LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 6, 2023

How Can Noboa Encourage Job Growth in Ecuador?

Ecuadorean President Daniel Noboa, who took office last month, is pushing legislation to encourage job creation. // File Photo: Ecuadorean Government.

Q

A

Adrian Pérez Salazar, senior associate at Coronel & Pérez in Guayaquil, Ecuador: “Daniel Noboa emphasized job creation as one of his key campaign promises. Accordingly, on Nov. 28, less than a week after he was sworn in, he presented a bill to the National Assembly titled the ‘Economic Efficiency and Employment Creation Act’ aimed at revitalizing the economy and spurring job creation. Some of the bill’s highlights include the creation of free trade zones, a new framework for public-private partnerships and tax incentives for hiring younger workers. The National Assembly must now analyze and eventually approve, amend or veto the proposed bill. While most of these reforms are welcomed, it is still unclear whether they will address the more serious structural problems in the labor markets. In particular, analysts have long pointed out the necessity of reforming the very outdated Ecuadorean labor code. Common-sense amendments such as…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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