2023-05-24 02:15:35
© Reuters. President of Ecuador, Guillermo Lasso, in Quito 12/4/2021 REUTERS/Luisa Gonzalez
By Alexandra Valencia
QUITO (Reuters) – Ecuadorian President Guillermo Lasso signed a decree on Tuesday to attract private investment and create new jobs as the South American country faces heightened political uncertainty.
The decree would create regions with special customs, tax and foreign trade regimes, as well as tax exemptions, the government said.
“We are going to positively transform local and international trade,” Economy Minister Pablo Arosemena told journalists at the decree’s signing event.
Lasso is ruling by decree after dissolving the National Assembly legislature that tried to impeach him.
Tuesday’s decree, like the tax cuts he announced last week for middle-income workers and small businesses, is subject to approval by the constitutional court.
Lasso, a former conservative banker, called for early elections, citing Ecuador’s political crisis and domestic turmoil.
It is unclear whether Lasso will run in the election, which is likely to take place on Aug. 20. An international media outlet quoted him as saying no, but the government minister said on Tuesday that Lasso was weighing the decision.
Lasso is scheduled to deliver a speech marking the start of his third year in office on Wednesday.
#Ecuadors #president #issues #decree #boost #investment #Reuters