Ecuador Plans Multi-million USD Investments

Quito, Jun 22 (Prensa Latina) Ecuador expects to receive this year about 542 million USD in investments from private companies, of which 280 million USD will be targeted for telecommunications and 262 million USD for productive sectors, an official source reported.

General Coordinator of Investment and Business Development, Carlos Pinzon, said Ecuador attracts companies looking to invest in strategic sectors because they find opportunities to keep growing.

In statements to news agency Andes, Pinzon said the telephone company “Movistar” will invest 100 million USD in coverage expansion while its competitor “Claro” will invest 180 million USD in the same area. The processed food sector will receive an investment of 180 million USD; 65 million USD will be spent in technology (hardware and software); 40 million USD in trade and 20 million USD in the pharmaceutical and chemical sector.

Private companies will invest in environmental services 9 million USD, and other industrial companies 20 million dollars, he said.

Investments for 2.72 billion USD, 570 million USD in strategic sectors and 2.15 billion USD in productive sectors are projected within five years, he said.

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