Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani, yesterday met with Pablo Campana Saenz, Minister of Foreign Trade and Investments of the Republic of Ecuador and his accompanying delegation.
DOHA: The Latin American country of Ecuador, which has embarked on a $34bn “Invest Ecuador” global campaign, expects some big-ticket investments from Qatar in key sectors like oil, economic free zones, mining sector and hospitality.
Ecuador’s Minster of Foreign Trade and Investments Pablo Campana Saenz said here yesterday that he expects Qatar is interested in investing the refinery sector, both in downstream and upstream. The minister will hold discussions with Qatar Petroleum authorities, today.
Campana was speaking to The Peninsula in an exclusive interview after holding high-level discussions including with H E Sheikh Ahmed bin Jassim Al Thani Minister of Economy and Commerce.
2018 will be ‘historic’ for investments in Ecuador. The country is targeting foreign investments worth $24bn for the next five years. Ecuador believes Qatar can be a critical partner in its ambitious ‘Investment Ecuador mission’. Ecaudor and Qatar are complementary economies. Both the countries would like to strengthen the bilateral trade relations and boost mutually beneficial investments.
During the meetings with Qatari entities, the Ecuadorian minister discussed the opportunities in hydropower projects, real estate and social housing projects. The discussions were very productive, he said.
Explaining on “Invest Ecuador” theme, the minister said it took him to 14 countries, the latest being Qatar, where investment projects of Ecuador were presented.
“The estimated value of our short term foreign investment portfolio is $34bn.We are looking for a $24bn projects to be completed in next five years.. This year we are going to sign a series of deals in several sectors, including in mining, hydrocarbon, industries, roads and infrastructure”, the minister said.
Campana said a delegation of industrialists and top business personalities from Ecuador will visit Qatar during the last week of April. In June, the country will be receiving a high-level trade and business delegation from Qatar.
With a stable political environment and a dollarised economy, Ecuador is a very attractive destination for foreign investors. The Minister said Ecuador is very keen for international partnership in the PPP sector. Ecuador’s PPP law provides huge incentives. The country has high standard of living and low security risks, with nears zero corruption rate.
As part of the country’s “Invest Ecuador” mission, the country has re-entered into the markets like Colombia, and rediscovered the markets in Brazil and Russia for its globally popular banana and shrimps.
