Investment Policy Review of Ecuador
Economic and political instability, aggravated by external shocks, had resulted in Ecuador´s becoming the lowest-ranking FDI recipient in Latin America. Yet it had a number of attractions for investors that could, with appropriate policies, be turned into opportunities. In order to reverse this situation, the IPR examined institutional, organizational and strategic changes in the FDI regime that were hindering the country´s ability to overcome its crisis. It recommended:
- further improving the legal framework for investment
- improving physical infrastructure
- designing policies aimed at increasing long-term benefits from FDI
- implementing an investment promotion programme.
Since the IPR was published, UNCTAD has, with the financial support of the Government of Switzerland, provided technical assistance to Ecuador´s Corporation of Exports & Investment Promotion (CORPEI) in a number of ways. It has:
- focused on strengthening investment promotion capacity through the formulation and launching of an investment promotion programme and the development of the Ecuadorian Investment Gateway
- elaborated a 10-year national plan on investment promotion and policy reforms, which was concluded and presented to major national stakeholders
- organized training workshops on topics such as investment promotion, policy advocacy, governance, consensus, image building and after care.