Last week, with only 46 votes in favor, the plenary session of the National Assembly failed to approve the Investment bill—a pillar of President Guillermo Lasso’s efforts to bring large foreign investments to Ecuador—and the project was ‘shelved.’ After the vote,...
Argentine company Pampa remains interested in energy projects in Ecuador even with failure of Investment Law
The company had been enthusiastic about the possible approval of the investment law, but despite the shelving of it indicated that it still has an interest. La Pampa Energía, an Argentine company that has played a leading role in the energy sector in its own country, is analyzing potential investments in Ecuador. Although in initial discussions […]
Azutaxi is legal, but are platforms like Uber, Didi and Cabify?
In Quito last week, a group of taxi drivers blocked streets in the Historic Center for more than three days to request that the operation of digital transportation platforms —such as Uber, Cabify and Didi— be regularized. The taxi drivers' claims have raised a...
A bumpy ride
I spent most of yesterday flying back to Denver for medical appointments. That’s been a norm for me over the last year. But things are good and much improved over 2021. The trip meant several connections, even though I wasn’t going for the cheapest route. Simply the way it worked out. And while I wasn’t […]
Ecuador has the second highest level of chronic malnutrition in the region
Right now, from March 28th to April 1st, government representatives from 33 countries and members of the Food and Agriculture Organization of the United Nations (FAO) are meeting in Quito for the 37th FAO Regional Conference for Latin America and the Caribbean, in order to define the path to follow to combat hunger and malnutrition […]
Entrepreneurs are furious over the filing of the Investment bill, cite lost opportunities for employment
Last Thursday, the National Assembly decided to file the draft Organic Law for Investment Attraction, Strengthening of the Securities Market and Digital Transformation that the Executive sent as an urgent economic order. According to several businessmen, this was a...
Exporters buy 685,000 clusters of bananas from producers in first week of plan to affront loss of sales to Russia and Ukraine
Acorbanec expects to close this first week with 480,000 clusters purchased and continue with the measure for seven more weeks. The banana export sector began this week buying from producers a part of the banana that could not be exported to the Russian and Ukrainian markets due to the war. The measure is a consensus between […]
Guillermo Lasso: ‘I must govern without considering that the National Assembly exists’
The president says he will push forward without the Assembly to help Ecuador’s economy grow. President Guillermo Lasso was consulted –this Tuesday, March 29, 2022– in the program Let's meet with the citizens, which is broadcast from the Government Palace, about what...
Petroecuador planning three major projects to double the country’s hydrocarbon production
Company’s manager says oil and gas partnerships will help increase yield. Through three megaprojects, two oil and one gas, Petroecuador hopes to double its hydrocarbon production by 2026 to 804,323 barrels per day. That was one of the announcements made Monday morning by Ítalo Cedeño, the manager of Petroecuador, during the rendering of accounts on the activities carried […]