On Wednesday, May 30, Quito hosted the 2018 Latin American Cities Conferences of the Council of the Americas, a meeting in which MSI's Ecuador law member Expertise Advisor Abogados participated and which was intended to promote the change of focus in Ecuador's economic policy in order to attract private investment. Gitty Villarroel Moreno from Expertise Advisor Abogados summarises the key points of the conference.
It was attended by the President of the Republic, Lenín Moreno and by Susan Segal, President and CEO of the Americas Society/Council of the Americas, both in the opening speeches. It included presentations by Pablo Campana, Minister of Foreign Trade; Richard Martínez, Minister of Economy and Finance; Carlos Pérez, Minister of Hydrocarbons; and, the participation of several panelists and CEOs of major companies in the region.
The Council of the Americas, which focuses on promoting free trade, the rule of law, the opening of markets, the generation of investment, and the economic and social development of the region, was founded in 1965 by David Rockefeller and has a membership of more than 200 U.S. companies with significant capitalization and high levels of liquidity. It also includes presidents, ministers, government officials, bankers, and economics, politics, business, and finance experts. The conference in Quito brought together the country's economic sector to launch its new vision of a capitals’ opening-up process and to present Ecuador, to both the region and worldwide, as a safe and promising investment destination.
In his speech, the President of the Republic stated emphatically that Ecuador is making an important shift in its macroeconomic policy, to welcome socially responsible capital, respectful of labor and environmental fairness, so that it can execute long-term investment programs and become the great creator of jobs, opportunities, development, and prosperity, while maintaining a close public-private cooperation. This shift is being supported by the issuance of clear and transparent rules that offer to provide legal certainty, fight against corruption, compliance with international obligations, and tax incentives, among others.
In turn, Minister Campana spoke about the bill he presented to the Executive in January of this year, highlighting its benefits in terms of attracting investment. He outlined the path that foreign trade policy would follow, commented on the commitments made by Ecuador to strengthen trade relations and to open up its market, and concluded by inviting the private sector to become the driving force behind the Ecuadorian economy.
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