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Investment & Legal Framework
Behavior
- Make appointments about two weeks in
advance
- Have business cards printed in English
on one side and the translation in Spanish on the other.
Present the card with the Spanish side facing your
Ecuadorian colleague
- Lunch is the customary time for the main meal and is
the usual businessmeal. Ecuadorians are used to alcohol
with lunch
- Women should note that while it is acceptable to drink
wine, Ecuadorians are not accustomed to seeing a
woman drink whiskey or other hard liquor
- If a businesswoman wishes to pay for an Ecuadorian
man’s meal, arrangements should be made ahead of
time, otherwise the man will refuse to let her pay
- If you are given a gift, be very effusive in your thanks
- Fine wines and liquors make good gifts. Avoid lilies and
marigolds, which are used at funerals
- Let the host make the toast first, then you may wish to
make one.
Communications
- Handshaking common when arriving and when leaving
- Men friends embrace and women friends kiss
- Titles are important and should be included on business
cards. Address a person directly by using his or her title
only. A Ph.D or a physician is called Doctor. Teachers
prefer the title Profesor, engineers go by Ingeniero,
architects are Arquitecto, and lawyers are Abogado.
Persons who do not have professional titles should be
addressed as Mr., Mrs., or Miss, plus their surnames. In
Spanish these are
• Mr. = Senor
• Mrs. = Senora
• Miss = Senorita
Most Hispanics have two surnames: one from their father,
which is listed first, followed by one from theirmother. Only
the father’s surname is used when addressing someone
- Relations with neighbor Peru have always been strained
- A famous part of Ecuador are the Galapagos Islands
- Good conversation topics: family, culture, history
- Bad conversation topics: politics, U.S. political influence
INVEST ECUADOR
Camilo Pinzón
General Manager
Coruña E-2558 y San Ignacio Edificio
Altana Plaza,
4° piso, Quito
Tel.: (593) 2 3815600
www.investecuador.ec
Activity: Promote and attract investment
Date of creation: 2010
InvestEcuador supports the development of productive
investment projects, in order to promote specific
investment opportunities and attract investment for
their implementation. This is an institution under the
MAIN ENTITIES
COORDINATION MINISTRY OF
PRODUCTION, EMPLOYMENT
AND COMPETITIVENESS
Econ. Nathalie Cely Smith
Minister
Av La Coruña N2558 and San Ignacio.
Altana Plaza Building Floor 4, Quito
Tel: (593) 02 3815600.
www.mcpec.gob.ec
Activity: Coordination Ministry
The Coordination Ministry of Production, Employment and
Competitiveness was created with the purpose of coordi-
nating, promoting, implementing and evaluating policies,
strategies and initiatives to transform the initial production
model of Ecuador, increasing its competitiveness and
boosting employment initiatives.
Strategic Goals:
a.
Promote the transform of the production model gen-
erating better performance and employment rates.
b.
Contribute to the systematic competitiveness of produc-
tion sectors.
c.
Promote public policies using a comprehensive and ho-
listic approach in order to coordinate government actions in
the field of production, under the principles of social respon-
sibility, solidarity and sustainability.
d.
Facilitate foreignand local investment in compliancewith
national policies.
In order to achieve its strategic goals, theMinistry has elab-
orated aNewProductionCode, a set of legal decisions that
help the country to get better engaged in productive activi-
ties. It emphasizes the importance of innovation, entrepre-
neurship and technology transfer. The expected result of
this change will benefit lives of many Ecuadorian people in
the medium and long run.
The Ministry is also distinguished by its numerous pro-
grams aimed at boosting the development of productive
sectors in different directions, such as EmprendEcuador,
InnovaEcuador, CreEcuador, No paperwork, InvestEcua-
dor, among others.
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