Prado says 228 investment contracts will create about 24,000 jobs

about 24,000 Careers will be born 228 shrinkage from investmentwith nearly 5 billion US dollars, approved during the first year of the government William Lasso. But expectations are that about 130,000 jobs will be reached directly, said the Minister of Production, J.July Jose Prado.

Between 2021 and the first four months of 2022, 228 investment contracts were approved, equivalent to 4,988 million US dollars, according to statistical data released by the country. Ministry of Production.

“This will generate a minimum commitment to create about 24,000 jobs,” Prado said. He explained that it is a condition for the company to obtain an investment contract.

However, after our own systematic studies, “We believe that, through these approved contracts, we can reach approximately 130,000 direct jobs in Ecuador. The Minister emphasized that if we multiply by international standards, we can reach approximately 260,000 non-working jobs in Ecuador.” Direct, created during the validity of these contracts.

it’s about shrinkage from investment only coming from private sector. 60% of these correspond to investments Local businesses From Ecuador, these represent approximately $3 billion USD; While 40% is direct foreign investment.

According to Prado, investments this year will be reflected in two aspects: in numbers foreign investment subordinate Central Bank of Ecuador And in the number brutal training of fixed capital.

Lorena Konans, Deputy Minister of Export and Investment Promotion, specified that foreign investment mainly comes from Canada, Spain, Australia, Mexico s United kingdom. Foreign investment is divided into two sectors: energy Renewable and mining.

investment increase

The government’s goal is to move from 0.7% in investment attraction at 1.6% until the end of the lasso period. However, this depends on legal environment in the country, so they are in demand Legal reformswhich justified health Investment LawAdmin added.

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“We will continue to insist when there is political will in the National Assembly for a new investment law. Or we will look for what can be done, for example, you have a file Free Zone Law Not as complete as we suggested, Prado said.

Sinovac Factory

Prado said that China’s intention to locate a factory for manufacturing from Vaccines in Ecuador. He added that the issue was still under discussion and did not stop due to the submission of the draft investment law.

In addition, there is a “very high interest from pharmaceutical companies International to locate in Ecuador. I think we will be able to get good news soon,” he confirmed.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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