It will offer a product catalog and its own payment system. The company of Argentine origin is expanding its operations in the region.
The Minister of Production, Foreign Trade, Investment and Fisheries, Julio José Prado, announced on the afternoon of March 4, 2022 that the multinational Mercado Libre will be physically installed in Ecuador from this month.
“It will expand its payment platform, link entrepreneurs and SMEs to e-commerce, and create a distribution center (warehouse),” the official assured.
This company of Argentine origin was considered the most valuable company in Latin America during 2021, with a price of $40,000 million.
It currently leads the online sales sector in the region and has expanded in recent years in various countries.
The firm has implemented logistics centers in Mexico, Chile, Colombia, Peru, among others.
Although the platform has been operating in the country for several years, currently it only offers the service of buying and selling products for registered users. That is to say, something like a portal for classified ads for buying and selling online.
The incursion of the firm in the nations it has reached involves the commercialization of products with its own catalog and those of other suppliers, with home delivery of online purchases with its own logistics and payment system.
Guillermo Lasso’s government is betting on a foreign investment shock to boost growth and employment. That shock should be boosted with the Investment Law which is currently being discussed in the Assembly.
FACT.- Mercado Libre’s revenues amounted to $7,069 million in 2021, which meant a growth of 78% compared to 2020.
???? FREE MARKET @Free market It is physically installed from this month in Ecuador.
It will expand its payment platform, link entrepreneurs and SMEs to e-commerce, and create a distribution center (warehouse).#MoreWorldInEcuador https://t.co/UZVClUwHLT
– Julio José Prado (@pradojj) March 4, 2022
