Approves Law on Productive Development, Attraction of Investments and Generation of Employment

On 21 August 2018, the Government of Ecuador approved the Law on Productive Development, Attraction of Investments and Generation of Employment establishing new incentives to promote Foreign Direct Investment. The law also provides that disputes arising out of investment agreements are to be resolved through arbitration, and arbitral awards arising therefrom are immediately enforceable in Ecuador, without the need for any further recognition by the courts.

• Type:

  • Treatment and operation (Dispute settlement)
  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Corporación del Seguro de Depósitos, Ley Orgánica Para El Fomento Productivo, Atracción De Inversiones, Generación De Empleo, Y Estabilidad Y Equilibrio Fiscal, http://www.cosede.gob.ec/wp-content/uploads/2018/08/Ley-Org%C3%A1nica-para-el-Fomento-Productivo-Atracci%C3%B3n-de-Inversiones-Generaci%C3%B3n-de-Empleo-y-Estabilidad-y-Equilibrio-Fiscal.pdf, 21 Aug 2018
  • DLA Piper, Ecuador reforms investment law, https://www.dlapiper.com/en/us/insights/publications/2018/09/ecuador-reforms-investment-law/, 24 Sep 2018