The law sent by the Executive to the Assembly must be approved until this Thursday, March 24, 2022.
The vote to know if the Investment Law will be carried out on Thursday, March 24, 2022, after Assemblyman Daniel Noboa request the suspension “so that the text returns to the Commission and changes are incorporated”, such as the one mentioned by Yeseña Guamaniof the Democratic Left (ID), who says they will support the free trade zonebut through a customs control.
No support from the Investment Law
To the government his prognosis of being able to reach the 70 votes required in the Assembly for the bill to be approved is uphill. Investment Law, which was sent almost a month ago with the urgent economic nature.
Carlos Jijón, spokesman for the Presidency of the Republic, recalled that the initiative aims to attract around 30,000 million dollars in foreign investment, and the creation of free zones that allow generating employment.
Reactions of the benches
The bench of the Union for Hope (UNES), which concentrates 48 votes; Pachacutik (PK), 25; and the Democratic Left (ID) 15, they will not support the law.
Christian Yocalla, assembly member of Pachakutik, anticipates that the movement will vote for the file of the norm. This political sector is concerned about certain aspects, such as public-private partnerships. “Pachakutik rejects privatization, a law that benefits foreign investment cannot be allowed,” he says. He mentions that within the project everything is “uncertain”.
Marlon Cadena, head of the Democratic Left (ID) caucus, announced that he would also will vote for the file. He points out that after a deep and serious analysis, the block considers that it is urgent to generate employmentbut with the conditions that are established in the law, this is not possible because the formula of delegations means a privatization with deadlines.
On the other hand, the Social Christian Party (PSC) announced its support for the Executive’s initiative “to solve democracy,” said Assemblyman Carlos Falquez. (SC)
#Legislative Plenum | @juanflores18 highlights that the #InvestmentLaw promotes job creation for 7 out of 10 Ecuadorians. It calls for support for the bill that is not for the benefit of the President of the Republic, but of the 17 million Ecuadorians. pic.twitter.com/rZILAxVFaj
– National Assembly (@AsambleaEcuador) March 22, 2022
