Government signed two investment agreements for the mining sector for $ 470 million

The pacts were given within the framework of the international event Ecuador Open for Business, which brings together representatives from 51 countries in the world.

The government of President Guillermo Lasso signed two investment contracts for the mining sector this morning.These are the crabs projects, in charge of the Lumina company; and rattlesnake, from Solgold.

Both represent an investment of $ 470 million and will generate 2,000 jobs.This was reported by the Vice Minister for Export Promotion and Investments, Lorena Konanz.

The firm occurred within the framework of the international event ‘Ecuador Open for Business’, which brings together representatives from 51 countries of the world and whose purpose is to get investments for the country. Lasso has ratified that the country's objective is to attract private investment for around $ 30,000 million in four years.

In crabs an investment of $ 35.6 million is expected with a project of four concessions that will last 25 years, and will take place in the Santa Rosa de El Oro canton. While the contract for rattlesnake, with a duration of fifteen years, amounts to $ 430 million. This second project, part of thetopWorld, is located in Imbabura.

The firm was attended by the President of the Republic, Guillermo Lasso; the Minister of Production, Julio José Prado; the energy, Juan Carlos Bermeo and the representatives of the miners: the president of Lumina, Marshall Koval; and Andrew Tauton, Vice President of Solgold.

The President of the Republic thanked the businessmen, congratulated them and wished them a lot of success. He also asked the attending investors to learn more about the country and "fall in love with this wonderful land."

He explained that the Government seeks to be a facilitator of the procedures and assured that it struggles with bureaucratic processes. "Many times the procedures kill the dreams of investors," he said.

On this issue there were also ads, as two decrees were signed for the creation of the National System of Investment Attraction and Facilitation (Senafi) and the Single Investment Window (VUI). The Technical Secretariat of Public-Private Alliances and Delegated Management was also created.

Lasso explained that in this way it is achieved that investors are not lost in a sea of ​​procedures and paperwork or displacements from one building to another.

In addition, the Secretariat will coordinate the necessary institutions to specify the investment processes. He commented that the Government seeks to expedite the processes, and therefore, for example, the preparation of the contracts signed in the mining field have lasted two months, when they delayed normally were two years.