Even though Ecuador has experienced recent economical difficulties, the country is rapidly regaining stability and setting the conditions for a prolonged growth. Ecuador has reaffirmed its support for free market principles. On march 2000, the Congress approved the Economic Transformation Law, that encourages companies doing business in the country and will do much to attract new foreign investment.
In February 2001, Ecuador signed a contract with an international consortium to build a heavy crude oil pipeline, that now is fully operational. The consortium invested over US$ 1 billion. The new pipeline will allow Ecuador to double its oil exports.
Most significant economic indicators are dramatically improving. In 2001, the economy grew 5.4%, the highest in Latin America. For the year 2003, the forecasting of growth is 3.00%. Inflation for the period January 2003 - January 2004 was 3.92%.
Ecuador offers interesting investment opportunities. Options such as basic infrastructure and different possibilities in all the productive areas are quite appealing. According to studies carried out by the UNCTAD, foreign investors consider Ecuador to have the following strengths:
Ecuador also offers the following opportunities: