Economy

Ecuador’s national minga aims at creating 50.000 new jobs in the countryside

Ecuador’s national minga (community work) will be inaugurated Saturday with the aim of promoting agriculture development with an investment of 2.5 billion dollars by 2021. The president will officially present the program in Quevedo, coastal province of Los Rios.

China organizes its first exclusive fair to promote Latin American companies

China International Chamber of Commerce and the government of Zhuhai will inaugurate next November its first international fair for Latin American and Caribbean companies, says vice Mayor of the province Zhu Qingqiao.

President Moreno announces actions for oil sector development

President Lenin Moreno announced Tuesday the new policy his government will apply in order to attract greater investment in the Ecuadorian oil sector.

Ecuador will promote trade agreements with Asia, Middle East and Europe, says minister Pablo Campana

Minister of Foreign Trade Pablo Campana announced he will begin his trip to Asia, Middle East and Europe late August with the aim of promoting trade agreements and attracting investments to the country.

President Lenín Moreno will visit Esmeraldas Refinery on Tuesday

Ecuadorian president Lenin Moreno is expected to visit the Esmeraldas Refinery on Tuesday with the aim of learning about the current situation of the industrial platform, said minister of Hydrocarbons Carlos Perez which he referred to as critical.

Ecuador’s economy goes through a period of recovery but needs dynamization: experts

Ecuadorian experts Victor Hugo Villacres and Marcelo Varela agree on the fact that the country’s economy is no longer in recession and faces is going through a period of recovery in which they said, it needed to be boosted with initiatives that allow overcoming development obstacles.

“There will be no price hikes,” says advisor to President Lenin Moreno

Ricardo Patiño, advisor to President Lenin Moreno, affirmed Wednesday that there will be no price hikes in Ecuador and denied that the national economy was badly administered in the last ten years of the Citizens’ Revolution.

Ecuador will request renegotiation of Generalized System of Preferences and looks forward to reaching trade deal with the US

Ecuadorian minister of Foreign Trade Pablo Campana informed Tuesday that he will travel to the United States in September to officially request the renegotiation of Generalized System of Preferences and reach a possible trade agreement with Ecuador’s greatest commercial partner.

Economists consider economic plan announced by Ecuadorian president feasible

The measures announced by President Lenin Moreno to tackle the country’s economic situation triggered reaction from different sectors. Economic Victor Hugo Villacres told Andes Agency that one of the ways to tackle the fiscal deficit of nearly 4.7 billion dollars is to look for internal and external funding.

President Lenín Moreno announces immediate measures to keep economy afloat

During a televised address tonight, Ecuadorian President Lenin Moreno presented a diagnosis of the economic situation and affirmed that the nation’s economy is facing a difficult situation but added that it will recover with all citizens’ efforts and with the application of five immediate austerity and investment promotion measures.

Ecuador’s government aims at promoting entrepreneurship with loans from public bank

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The Ecuadorian government plans to invest 960 million dollars in the next four years to promote the development of small and medium-sized enterprises through credits granted by public banks, according to the announcement made by President Lenin Moreno on Wednesday.

Rural sectors participate in dialogue on agriculture in Ecuador

Hundreds of producers participated in a dialogue on agriculture in Guayaquil on Wednesday. This is part of the government’s initiative to define actions of its development policy by including different sectors.

Tax collection in Ecuador grew by 11% in the first semester of 2017

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Leonardo Orlando, Director of the Internal Revenue Service (IRS) informed that tax collection in the first semester of 2017 grew by 11%.

“The Ecuadorian economy is expanding,” says Central Bank manager

Manager at Ecuador’s Central Bank Veronica Artola affirmed that the Ecuadorian economy is expanding and that figures for the following months are promising. “According to statistics of the forward cycle of the GDP, the economy will grow. We’re growing,” she ratified.

Ecuador’s economy grew 2.6% in first quarter of the year

The Ecuadorian economy showed a 2.6% growth during the first quarter of 2017, informed Friday Central Bank’s manager Veronica Artola when announcing the results of the quarterly National Accounts and Balance of Payments of the first quarter of the year.

Ecuadorian exports to the EU increased $100m in the first quarter

The European Union (EU) is the main destination for Ecuadorian non-oil exports and these increased by 100 million dollars in the first quarter of the year, according to minister of Foreign Trade.

President Moreno: This is the political time for entrepreneurs to work in serenity

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President Lenin Moreno participated Thursday night in the inauguration of a dairy plant, considered the most modern in the country and the region in a ceremony in which he invited the entrepreneurial sector to invest because they have the support of the government.

Ecuador’s president creates Productivity Advisory Council to boost economic growth

Ecuadorian president Lenin Moreno signed Thursday an Executive Decree to create the Productivity Advisory Council, led by vice president Jorge Glas, which is composed of public and private representatives “as a form to consult, advise and promote social dialog on proposals of policies and regulations to boot production, investment, employment and foreign exchange generation.”

President Lenín Moreno, “This has definitely been a decade of achievements”

Ecuadorian President Lenin Moreno highlighted the achievements made in the last decade under the administration of Rafael Correa which he referred to as “a decade of achievements” and called upon the private sector to make the most of the country’s conditions “to produce more and better.”

Investment in the energy sector is a long-term asset for Ecuador: Latin American Energy Organization

Secretary of the Latin American Energy Organization (OLADE) Alfonso Blanco pointed out that there are greater water-resource-exploitation rates to generate energy in Latin America and that there are countries where the energy generation mix is almost 100%. He praised Ecuador for investing in renewable energy projects for energy generation.