In recent years Ecuador has invested 7,600 million dollars to build and rehabilitate roads nationwide. Currently, the country has 9,200 kilometers of roads and highways of the first order. With this huge investment, we ensure the best conditions for internal and external trade.
Ports and airports
The infrastructure has grown considerably in Ecuador, and that can also be checked when it comes to ports and airports. The country currently has 17 new airports between opened and remodeled to meet the highest international standards. The largest terminal of the country is Quito, which has received more and more visitors for tourism and business. Moreover, the major port cities of Ecuador, Guayaquil, Manta and Esmeraldas, have substantially increased their business development through incentive government policies.
One of the most important investments of Ecuador has been energy generation. In 2014, the kilowatt of energy costs 8 cents, one of the cheapest and competitive rates in the region.
With an ambitious plan to build eight hydroelectric projects that will start operations in 2016, Ecuador will generate 8,300 megawatts, which will cover 93% of the national energy demand. In addition, Ecuador has invested in other energy industries such as wind power, photovoltaic and thermoelectric.
Potable water has been a key concern of the Ecuadorian State. The cost of water is $ 1.5 per cubic meter, one of the lowest costs in the region.
As for the water management in rural areas, 6 multipurpose projects have been built in the Ecuadorian coast, aiming to avoid floods in winter or ensure a steady supply of water for agriculture in dry seasons. In this way the country has managed to optimize the productivity of our agroindustry sector, which has great prospects of growth in the medium and long term.
The price of fuel is the second lowest in Latin America, with 29 cents per liter. This certainly lowers the cost of production and logistics, which contributes to business profitability.
Moreover, the recently reopened Esmeraldas refinery, operated by the state company Petroecuador, processes 110,000 barrels of oil daily, saves the country $ 300 million annually in fuel imports.
Ecuador is one of the country most connected to the Information Technology and Communication (ICT) in the andean region. Thanks to the public-private cooperation, the country has one of the most extensive coverage of Internet services. This is certainly a great benefit when investing in Ecuador.
Ecuador development regarding connectivity is important in recent years. Public investment in the installation of more than 13,000 kilometers of fiber optics to rural communities, has made the connectivity in 213 cantons of Ecuador. With this, we have over 90% of Internet coverage nationwide.
Investment in education
We are the country that has invested in education across the region in relation to GDP. In order to move towards a social knowledge economy over one billion dollars will be invested in four new universities: Yachay (technology, research in the hard sciences), Ikiam (life sciences and biotechnology), Uniartes (Arts) and UNAE (pedagogy). Each of these entities is directed to meet the needs of professionalization that more country needs to ensure sustainable long-term development.
Since 2007, the Ecuadorian government has launched an aggressive plan to invest in knowledge and human talent by providing scholarships to outstanding students in the system of secondary and higher education. The scholarship program provides a full economic aid and financing of races in the best universities worldwide. Already there are thousands of trainees who have undertaken undergraduate and graduate to contribute their knowledge in changing the productive matrix of Ecuador.