[Economics] Government announces measures for the economic reactivation of the country

[#Steeven.™]

The Executive will present the Law of Labor Opportunities, soon. President Guillermo Lasso led the first Productive Cabinet of this period.

After a meeting of approximately three hours, the ministers that are part of the Government's Productive Cabinet announced some measures that will be taken for the economic reactivation of the country and, consequently, the generation of employment.

At the beginning of the meeting, President Guillermo Lasso stated that the objective is to promote investment and generate employment and, for this, they seek to make the most appropriate decisions.

The Minister of Labor, Patricio Donoso said that the Government will implement three measures to generate employment: progressive return to work with biosafety measures, Plan 2/14, two doses of vaccines in fourteen days so that citizens can return to work; presentation of the Law of Labor Opportunities, for the informal or unemployed employee who tries to find a source of work; promote investment with legal certainty; and the Violet Economy Law, which, among other things, seeks to provide tax incentives to companies that employ women at hierarchical levels, and which analyzes other measures because a large part of the Economically Active Po[CENSORED]tion (EAP) is in the informal sector.

The Minister of Production, Julio José Prado, pointed out that more than 22,000 formal companies have disappeared in Ecuador during the pandemic, the real losses exceed $ 14,500 million in sales during the pandemic, and it is the worst crisis in the productive sectors.

For this reason, he announced a tariff reform to lower production costs in more than 60 industries, the start-up of the National Council for Competitiveness and Innovation with public-private collaboration and the start-up of twenty sectorialized and territorialized industrial blocks to find mechanisms reactivation.

In addition, the Minister of Agriculture, Tanlly Vera, said that long-term loans will be provided to farmers through BanEcuador or Banco Nacional de Fomento. Targeted credits and new lines of credit. They will implement parcel irrigation in approximately one thousand hectares throughout the country, in the first one hundred days of Government.