After the Ministry of Environment (MA) signed a resolution authorizing Google to install a data center in the Science Park in Canelones, the tech giant announced an investment of over $850 million in Uruguay to construct this center on August 29, 2024. This significant Google data center investment in Uruguay marks a pivotal moment in the country’s technological and economic development.

Strategic Importance of the Data Center

During his speech, Eduardo López, President of Google Cloud in Latin America, emphasized that today, in economies, “processing, information, and connectivity are fundamental factors for economies to develop, to generate talent, and to create jobs.” Therefore, he considered it essential for Google to create a data center that would allow it to “evolve”; “not only for Google but also by providing a tool of transformation for the countries and societies where we are located.” The Google data center investment in Uruguay is expected to play a crucial role in this transformative process, benefiting the region and contributing to a global network of 28 data centers in 11 countries that support all Google products worldwide.

In that sense, López noted that the data center “will not only serve the region” but is “part of the network of 28 data centers in 11 countries that provide services to all our products worldwide.” The broader impact of the Google data center investment in Uruguay is anticipated to extend beyond national borders, making it a strategic hub in Google’s global infrastructure.

Sustainability at the Core

The Minister of Industry, Energy, and Mining, Elisa Facio, highlighted that the project is “innovative” from a sustainability perspective, as it “will use air instead of water for cooling.” “This is a factor highly valued by us as a government, as we are firmly committed to promoting environmentally friendly production.” She also stated that Uruguay “has made sustainability a part of its production strategy,” which she considered a “key factor” for economic development. The sustainable approach of the Google data center investment in Uruguay aligns with the country’s environmental goals, ensuring that technological advancement does not come at the cost of ecological integrity.

“We believe that the ability to develop this project without significantly altering CO2 emission levels is a value in itself,” the minister emphasized, expressing her gratitude for “the work carried out with UTE, which provided support and assistance in addressing this and other concerns that could be associated with a project of this nature.” The Google data center investment in Uruguay is thus being hailed for its economic potential and commitment to sustainability.

Government Support and Future Prospects

Meanwhile, the Minister of Foreign Affairs and former Minister of Industry, Energy, and Mining, Omar Paganini, expressed the government’s “satisfaction” with “this project finally coming to fruition” and that “this is the kind of thing Uruguay needs to keep doing”: “being very open to projects from this type of company, these kinds of ventures that aim at the future.” Completing the Google data center investment in Uruguay represents a successful collaboration that will likely pave the way for further high-tech investments in the country.

Advocacy and Strategic Planning

In a press conference, the vice-presidential candidate for the Frente Amplio (FA), Carolina Cosse, said that the project was developed “with a great team from Antel” that managed to create an undersea fiber optic cable with Google, which “enabled a work trajectory.” According to Cosse, during this trajectory, they insisted “over and over” that the multinational should establish its data center in Uruguay. The advocacy and persistence in securing the Google data center investment in Uruguay underscore the strategic importance of this project for the country’s digital future.

Confidentiality and Environmental Impact

The presidential candidate for the FA, Yamandú Orsi, recalled in a press conference that during the previous government term, Google approached them “without revealing what it was about and requesting confidentiality.” “I was fortunate, as the mayor [of Canelones], to have conversations with the former Minister of Industry, Paganini, at that time, to ensure that this never fell through,” he said, adding that what is essential is “looking forward and understanding that this will trigger other types of related investments that will greatly help us as a country.” The strategic discussions that led to the Google data center investment in Uruguay were marked by careful planning and confidentiality, ultimately benefiting the country’s long-term economic prospects.

Controversy Surrounding Environmental Impact

However, one of the controversial points regarding the installation of Google’s data center in Uruguay was that, in a 2020 report by Eleanor Applications SRL—a subsidiary of Google—on the environmental feasibility of the project’s location, the pages where the “water details,” “wastewater details,” and “energy details” were supposed to be appeared as “confidential.” Given the potential environmental impact of the Google data center investment in Uruguay, this confidentiality raised concerns.

For this reason, in 2022, Daniel Pena, a researcher from the Faculty of Social Sciences, submitted a public information request to the MA to learn about the volume of potable water required for the project’s operation. Finally, in 2023, it was revealed that the center could use up to 7,600,000 liters of potable water daily. The revelation brought attention to the environmental implications of the Google data center investment in Uruguay, sparking public debate.

When asked about this issue, Orsi said that “it’s not secrecy for the sake of secrecy so that no one finds out,” but rather that “when a deal isn’t finalized, it’s logical that the parties involved don’t expose themselves to competition or other factors that might work against them.” “In our case, they requested confidentiality because they were deciding whether to establish here or in Brazil.” The Google data center investment in Uruguay was thus subject to confidentiality, which Orsi justified as a standard business practice rather than a lack of transparency.

Balancing Confidentiality with Environmental Responsibility

“I believe that my country, through various governments and particularly under mine, the FA, has created the necessary conditions for land-use planning and environmental regulations so that one must go through certain stages before finalizing any venture,” he pointed out. Therefore, he considered that “confidentiality, in this case, is more about business plans, and, during discussions, they decided to switch from water cooling to air cooling.” “I have great confidence in the regulations we have and the technical expertise from universities trained on environmental issues; confidentiality doesn’t always equate to a lack of transparency,” he concluded. The approach taken with the Google data center investment in Uruguay reflects a balance between business confidentiality and environmental responsibility.

Conclusion: A Transformative Milestone for Uruguay

The Google data center investment in Uruguay represents a significant milestone in the country’s journey toward becoming a technological hub in Latin America. Despite the controversies surrounding environmental impact and confidentiality, the project underscores Uruguay’s commitment to sustainable development and its strategic vision to attract high-tech investments. The collaboration between Google and the Uruguayan government highlights the nation’s ability to create a conducive environment for global companies, fostering economic growth and innovation. As the data center becomes operational, it is poised to enhance regional connectivity and solidify Uruguay’s global position, marking a transformative moment in its economic and technological landscape.

Surge in Foreign Private Investment in Chile

According to an analysis conducted by InvestChile based on the survey by the Capital Goods Corporation (CBC) for the second quarter of this year, the $37.478 billion in foreign private investment in Chile represents a 24% increase compared to the previous quarter.

Foreign Projects Lead Private Investment

Foreign projects lead the private investment in Chile during the 2024-2028 period, as revealed by an analysis by InvestChile’s Strategy and Investment Climate division of the latest Capital Goods Corporation (CBC) report.

The review showed that foreign private investment accounted for 77% ($37.478 billion) of the CBC’s survey, while national private investment in Chile made up the remaining 23% ($11.193 billion). The situation was entirely different six years ago, as in 2018, only 45% of the projects included in the report came from foreign capital, compared to 55% from local capital.

Significant Growth in Energy and Mining Sectors

The amount associated with projects owned or involving foreign capital represents a 24% increase compared to the first quarter of this year ($30.118 billion). The most significant growth in private investment in Chile was seen in the energy and mining sectors, which account for more than 70% of the total difference between the two surveys.

Government and Industry Leaders React

Economy Minister Nicolás Grau stated, “This is good news because it shows that we can convert the international interest we see in presidential tours into investments, which translates into more jobs and economic growth.”

Meanwhile, Karla Flores, Director of InvestChile, noted that the figures align with the significant contribution foreign investment makes to Chile’s GDP, which is considerably higher than in other regional economies. We have recorded high flows of FDI in recent years.

Chile’s Institutional Strengths Attract Foreign Investment

“We are talking about companies setting up projects with a development horizon of many years or even decades and whose analysis incorporates elements where Chile has clear strengths: institutional solidity, robust fiscal responsibility and macroeconomic management, legal certainty, and opportunities in high-potential sectors. Although we have faced challenges like other economies worldwide, we are a country that can resolve them in an institutional and orderly manner, which is highly valued. The day-to-day and local debates often distract from the significant opportunities Chile offers for private investment in Chile, which foreign companies do see. Foreign investment is a powerful development tool for our country, and all indications are that it will continue to be so,” said Flores.

Number of Projects and Progress Status

In addition to the amount, another aspect worth highlighting is the number of projects related to foreign investment. In the second quarter of 2024, 221 such projects were recorded, explained by the inclusion of 22 new projects and 16 that moved from a ‘no schedule’ classification to a ‘with schedule’ status, where the existence of a precise disbursement timeline is determined. These 38 projects account for more than a $7.3 billion difference between the two reports.

Project Stages and Environmental Approvals

It is also essential to consider the stage of the projects involved, as their progress implies greater certainty of their materialization. 70% of the amounts considered are in the Construction and Detailed Engineering stages, providing greater certainty regarding their completion. These stages account for $27 billion in private investment in Chile.

In addition to the degree of progress, it is crucial to highlight the status of the projects mentioned: 56% corresponds to projects that already have environmental approval, totaling more than $20 billion. Meanwhile, projects under ecological review, meaning they are already under analysis, involve an amount close to $8 billion, representing 21% of the total. In summary, 76% of the projects are already in the environmental assessment system, either approved or under review.

Chile’s Continued Attractiveness as a Global Investment Destination

The growing dominance of foreign private investment in Chile underscores the country’s attractiveness as a global investment destination. With significant capital directed toward critical sectors such as energy and mining, Chile can benefit from sustained economic growth and job creation in the coming years. The robust institutional framework, fiscal responsibility, and legal certainty that characterize Chile’s economic environment continue to draw international interest. As the country moves forward, this influx of foreign capital will play a crucial role in shaping its future development, ensuring that Chile remains a competitive and dynamic player on the global stage.

Official Opening of the Dominican-Guatemalan Chamber of Commerce

During President Bernardo Arévalo’s recent visit to the Dominican Republic, the Guatemalan leader made a significant announcement on the occasion of President Luis Abinader’s inauguration. He revealed the official opening of the Dominican-Guatemalan Chamber of Commerce, a strategic move to promote stronger commercial relations between the two countries. This initiative marks a critical step in deepening economic ties and fostering greater collaboration, focusing on attracting new investments to Guatemala and the Dominican Republic.

Strengthening Bilateral Trade and Investment Opportunities

The official establishment of this chamber is not just a formality but a reflection of the commitment both nations have to enhance bilateral trade and investment opportunities. As globalization continues to shape economies worldwide, such initiatives are vital in ensuring that countries like Guatemala and the Dominican Republic can harness the full potential of international trade. The creation of the Dominican-Guatemalan Chamber of Commerce is expected to act as a catalyst for new business ventures, encouraging both nations to explore untapped markets and innovative business models, all while attracting new investments to Guatemala.

Engagement with the Guatemalan Diaspora

President Arévalo engaged with the Guatemalan diaspora residing in the Dominican Republic as part of his working trip. This vital and vibrant community plays a crucial role in maintaining the cultural and economic ties between the two nations. This meeting, also attended by prominent business leaders, served as a platform for discussing the new chamber’s opportunities. The president took the opportunity to inform attendees that this chamber would be officially established next week, signaling a new era of collaboration and mutual growth, with a strong emphasis on drawing new investments to Guatemala.

A Bridge for New Investments

“The inauguration of the chamber will strengthen bilateral trade, creating new opportunities for our businesses and attracting new investments,” stated President Arévalo. His words underscore the strategic importance of this initiative, which aligns with Guatemala’s broader economic goals of diversifying trade partnerships and attracting foreign direct investment. The chamber will serve as a bridge, facilitating easier market access and fostering an environment conducive to business expansion and innovation. This effort is expected to significantly contribute to drawing new investments to Guatemala, further bolstering its economy.

Founding Companies Leading the Way

According to information from the Presidential Secretariat for Social Communication (SCSP), the trade group comprises 11 founding companies. These companies, representing diverse industries, are at the forefront of this initiative. They bring a wealth of experience and resources, ensuring the chamber is well-positioned to make a meaningful impact. With this structure’s establishment and official launch, the inclusion of more businesses is not just anticipated but actively encouraged. The chamber aims to become a comprehensive network that supports businesses of all sizes, from startups to large corporations, in their efforts to expand into new markets and attract new investments to Guatemala.

Guatemala’s Appeal as an Investment Destination

“The increase in Guatemalan companies in the Dominican Republic reflects the country’s political stability and economic growth,” said President Arévalo. This statement highlights the broader economic context in which this initiative is taking place. Guatemala’s political stability and consistent economic growth make it an attractive destination for investors looking to enter new markets. President Arévalo’s invitation to Dominican businesses to consider Guatemala a valuable option for expanding their operations is a testament to the country’s growing reputation as a hub for innovation and commerce, further driving efforts to secure new investments in Guatemala.

Direct Flights: A Reflection of Strong Relations

Among the significant projects for this commercial union is the progress in establishing direct flights between the two nations. This initiative is more than just a logistical convenience; it reflects the strong relationship between Guatemala and the Dominican Republic. Direct flights will not only facilitate business travel and tourism but also enhance the efficiency of trade between the two countries. The improved connectivity is expected to increase the exchange of goods, services, and ideas, further solidifying the economic partnership between the two nations.

Current Trade Dynamics

According to the official account of the Dominican Republic’s Ministry of Industry, Commerce, and MSMEs, in 2023, trade between the Dominican Republic and Guatemala reached an impressive 253 million dollars. This figure is a clear indication of the robust economic ties that already exist between the two nations. Of this total, Dominican exports accounted for 36 million dollars, while imports from Guatemala amounted to 217 million dollars. These numbers highlight the significant trade imbalance between the two countries, allowing both nations to explore ways to diversify and balance their trade relationship.

Key Export and Import Products

The Ministry further notes that the main products exported from the Dominican Republic to Guatemala include therapeutic medications, beef, polyacetals, grits, corn semolina, and various food preparations. These products represent vital industries in the Dominican Republic, which have found a receptive market in Guatemala. On the other hand, critical imports from Guatemala include organic surface-active agents, oral hygiene preparations, and bakery and confectionery products. These imports indicate Guatemala’s strong manufacturing sector, which produces high-quality goods that meet the demands of Dominican consumers.

Future Prospects for Commerce

Establishing the Dominican-Guatemalan Chamber of Commerce is expected to enhance the trade of these existing products and open up new avenues for commerce. As both countries continue to grow and evolve economically, there is significant potential for introducing new products and services that cater to the changing needs of their populations. This chamber will play a crucial role in identifying and capitalizing on these opportunities, ensuring that both nations benefit from the shared prosperity that increased trade and investment can bring.

Conclusion: A New Era of Economic Integration

In conclusion, the inauguration of the Dominican-Guatemalan Chamber of Commerce represents a pivotal moment in the economic relationship between Guatemala and the Dominican Republic. It is a bold step towards greater economic integration and a testament to the commitment of both nations to fostering a dynamic and mutually beneficial partnership. As this initiative takes root and grows, it will undoubtedly create new opportunities for businesses and investors in both countries, paving the way for a more prosperous future by securing new investments in Guatemala and the Dominican Republic.

In recent years, the economic ties between Canada and Mexico have deepened significantly, with Canadian investment in Mexico reaching new heights. Public announcements of Canadian investment in Mexico have accumulated expectations of $2.369 billion, which would generate 6,630 new jobs, according to Alejandro Encinas, Undersecretary of Foreign Trade at the Ministry of Economy (SE). Encinas made this statement on Thursday during the inauguration of the Mexico-Canada business forum ‘CanCham Day 2024′ in Mexico City, emphasizing the growing importance of this bilateral relationship.

Encinas detailed that from 2023 until July 2024, 21 public announcements have been made by Canadian companies, contributing significantly to Canadian investment in Mexico. This surge reflects Canada’s growing confidence in the Mexican market and the strategic benefits of closer economic integration within North America. “Not all investments are necessarily accounted for, as not all companies make public investment announcements,” Encinas clarified. “However, the Ministry of Economy closely monitors these announcements, which allows us to understand where Canadian investment in Mexico is heading and at what pace it will arrive in the coming years.”

The Role of Nearshoring in Canadian Investment

One of the critical factors driving the increase in Canadian investment in Mexico is the trend of supply chain relocation, also known as ‘nearshoring.’ This strategy involves moving production closer to consumer markets, and Mexico, with its proximity to the United States and Canada, has become an attractive destination for this trend. Encinas pointed out that there has been “a greater territorial distribution of these investments, not only focused on the mining sector but also on the food sector.” The diversity of investments highlights the multifaceted nature of Canadian interest in Mexico.

“For instance, Tim Hortons is preparing its expansion throughout Mexico, and we are also seeing important industries for North America, such as auto parts, expanding their presence in Mexico,” Encinas noted. The entry of iconic Canadian brands like Tim Hortons signifies the broader impact of Canadian investment in Mexico, as these companies bring with them not just capital but also expertise, job creation, and a cultural exchange that benefits both nations.

Expanding industries like auto parts is crucial for integrating North American supply chains. These sectors are vital for maintaining the competitiveness of North American manufacturing on the global stage. Encinas also indicated that when analyzing ‘nearshoring’ data, “the key players are not new investments or new companies, but rather companies that have been in Mexico for several years.” This suggests that established Canadian companies in Mexico are doubling their investments, recognizing the long-term benefits of operating there.

Strengthening Bilateral Trade

The robust economic relationship between Canada and Mexico extends beyond direct investment. Encinas highlighted that Canada is Mexico’s third-largest trading partner, with trade between the two countries reaching record figures last year. In 2023, the trade between Mexico and Canada amounted to $31.131 billion, representing an average of $3.6 million in trade per hour. “Compared to 2022, trade between Mexico and Canada increased by 8%,” Encinas stated, underscoring the dynamic nature of this partnership.

Mexico’s exports to Canada are a significant component of this trade relationship. Canada is the second-largest destination for Mexican exports, valued at $18 billion in 2023. Encinas says these exports are “mainly concentrated in the top five industrial productive sectors: automotive and auto parts, mechanical appliances, electronic equipment, agribusiness, and real estate. ” The automotive industry, in particular, has been a cornerstone of Mexico’s export strategy, with Canadian investments in auto parts manufacturing playing a crucial role in this success.

The integration of these sectors across North America is facilitated by the United States-Mexico-Canada Agreement (USMCA), which has provided a stable framework for trade and investment since its implementation. The agreement has encouraged companies to view North America as a single economic region, fostering closer ties between Canada and Mexico.

Canadian Investment and Economic Diversification

While the automotive sector remains a dominant force in Canadian investment in Mexico, there is a noticeable trend toward diversification. Encinas noted that the traditional focus on mining, a significant area of Canadian investment in Mexico, is now complemented by investments in other sectors such as food and beverage, technology, and services. This diversification is crucial for Mexico’s economic resilience, as it reduces reliance on any single industry and creates a more balanced economic landscape.

The entry of Canadian companies into the food and beverage sector, exemplified by Tim Hortons’ expansion, highlights the growing consumer market in Mexico. As the Mexican middle class expands, demand for a wider variety of goods and services increases, creating opportunities for Canadian businesses. Moreover, Canadian investments in technology and services are helping to modernize Mexico’s economy, introducing innovations that improve productivity and competitiveness.

Future Prospects for Canadian Investment in Mexico

Looking ahead, the future of Canadian investment in Mexico appears bright. Encinas mentioned that direct foreign investment from Canada in Mexico reached $3.49 billion in 2023, and in the first half of 2024 alone, Canadian investment in Mexico amounted to $2.408 billion. These figures indicate a sustained commitment from Canadian businesses to the Mexican market, driven by the advantages of geographic proximity, a favorable trade environment, and the growing opportunities in various sectors.

Encinas also emphasized Canada’s role as a major source of remittances and a significant contributor to Mexico’s foreign exchange earnings. Canada is the second-largest source of remittances to Mexico, which is crucial in supporting the livelihoods of millions of Mexican families. Additionally, Canada is the second-largest country of origin for tourists to Mexico, with popular destinations like Puerto Vallarta and Playa del Carmen attracting a growing number of Canadian visitors.

As Mexico prepares for a change in administration, with Claudia Sheinbaum set to become the new president on October 1, the continuity of policies that encourage foreign investment will be critical. Encinas hinted at the potential for expanding health or geriatric tourism, areas where Canadian investment could play a significant role. With an aging population in Canada, the demand for affordable, high-quality healthcare services in Mexico could open new avenues for Canadian-Mexican cooperation.

Conclusion

In conclusion, the growing Canadian investment in Mexico is a testament to the strong economic ties between the two nations. With $2.369 billion in announced investments and a potential to create over 6,000 jobs, Canadian businesses are not only contributing to Mexico’s economic development. Still, they also benefit from the opportunities presented by Mexico’s strategic location and dynamic market. As both countries continue to deepen their economic integration, the partnership between Canada and Mexico is set to play an increasingly important role in the broader North American economy.

In recent years, Ecuador has increasingly become a focal point for international franchises seeking to expand their global footprint. The country’s strategic location in South America and its expanding consumer market have made it an appealing destination for well-known European and American brands. The unique benefits these international franchises bring, such as their diverse offerings in sectors like clothing, food, and beverages, have not only transformed the retail landscape but also stimulated local economies through various means.

Strategic Alliances with Local Businesses

One of the most noteworthy aspects of this trend is how these franchises integrate into the local economy with the help of local businesses. Many companies forge strategic alliances with local businesses upon entering the Ecuadorian market. These partnerships are often centered around creating a robust production chain directly benefiting local suppliers, particularly those providing raw materials. This collaboration ensures that the economic benefits of foreign investment are felt not only by the consumers who enjoy new products and services but also by the local businesses that contribute to these supply chains.

The Economic Context: A Boost Amid Low FDI

The influx of foreign franchises in Ecuador, such as Starbucks, Krispy Kreme, and others, is particularly significant given the country’s current economic context. Ecuador has been experiencing a relatively low Foreign Direct Investment (FDI), which has raised concerns among policymakers and economists about the economy’s overall health. According to figures from the Central Bank of Ecuador (BCE), the country recorded a total FDI inflow of just USD 372 million in 2023, the lowest amount since 2011. This decline in FDI has been attributed to various factors, including global economic uncertainty, domestic political instability, and concerns about the country’s regulatory environment. However, the arrival of these foreign franchises in Ecuador provides a much-needed boost to the economy by injecting fresh capital, creating jobs, and generating foreign currency inflows.

Job Creation and Economic Dynamism

The employment opportunities generated by foreign franchises in Ecuador are multifaceted. On one hand, establishing physical retail outlets creates a range of permanent jobs, providing a stable job market. Positions such as store clerks, accountants, and administrators are essential to the day-to-day operations of these businesses. These roles provide stable employment for many Ecuadorians, reducing unemployment and underemployment rates in the country. On the other hand, setting up these franchises often involves significant construction activity and creating temporary jobs in the building, electrical work, and interior design sectors. While these construction jobs may be short-term, they provide a crucial source of income for workers and contribute to the overall dynamism of the economy.

Broader Economic Impact and Consumer Activity

The presence of international franchises also has a broader impact on the local economy. Opening new stores often attracts large crowds of curious consumers eager to experience the products and services offered by these global brands. This surge in consumer activity can lead to a ripple effect throughout the economy, as increased foot traffic in retail areas benefits not only the franchises themselves but also surrounding businesses, such as restaurants, cafes, and local retailers. The increased economic activity can also boost government revenues through sales taxes and other forms of taxation, which can be reinvested into public services and infrastructure.

Enhancing Ecuador’s Investment Attractiveness

However, while the arrival of foreign franchises is undoubtedly positive, it also underscores the need for Ecuador to take further steps to enhance its attractiveness as a destination for investment. According to economic experts, while these franchises contribute to the economy, the ultimate goal should be to attract long-term investments in industries that offer greater added value. One such industry is mining, which has already contributed significantly to Ecuador’s FDI. In 2023, the mining sector accounted for 43.8% of the country’s total FDI, demonstrating its potential as a catalyst for economic growth. Mining investments create long-term employment opportunities and drive the expansion of related industries, such as hospitality, food production, security services, and textiles.

Leveraging Competitive Advantages

To capitalize on this potential, experts suggest that Ecuador must leverage its competitive advantages, particularly in terms of tax incentives and legal security. Investors carefully consider these factors when deciding where to allocate their capital, and even a small difference in tax rates or the perceived stability of the legal environment can be decisive. For instance, an investor might choose between Ecuador, Peru, or Colombia based on the relative attractiveness of each country’s tax regime. Therefore, Ecuador must strive to offer a compelling value proposition that differentiates it from its regional competitors.

The Role of Public-Private Partnerships

Another strategy that could bolster Ecuador’s appeal to investors is strengthening public-private partnerships. These collaborations allow private companies to invest in local industries with the government’s support, thereby sharing the risks and rewards of investment. Public-private partnerships can be particularly effective in sectors that require significant capital investment, such as infrastructure, energy, and manufacturing. By fostering an environment where private capital is welcomed and supported, Ecuador can create a more sustainable and diversified economic base that is less reliant on volatile sources of FDI.

Conclusion: Building a Sustainable Economic Future

In conclusion, while Ecuador has made significant strides in attracting foreign franchises, much work still needs to be done to realize its potential as a destination for investment fully. By focusing on long-term industrial investment, enhancing its tax and legal environment, and promoting public-private partnerships, Ecuador can build on its recent successes and lay the foundation for sustained economic growth in the years to come. The arrival of international franchises is a promising sign, but it should be seen as just one part of a broader strategy to ensure the country’s economic future.