"12%" provision for communities Ecuador's President Correa mentioned on Saturday that he is asking the National Assembly to prioritize several laws. Among the top priorities is Hydrocarbon Law which includes 12% provision for communities. Everyone is interested in seeing the initial exploitation contract in Ecuador, perhaps with logical candidate Dynasty (T.DMM), as it will set the stage for long-term investment. Gov't will hopefully keep the mining exploitation contracts fair and in line with one another, even though they are arranged on a project-by-project basis, in order to maintain credibility and continue to attract investment.
https://www.elciudadano.gov.ec/index.php?option=com_content&view=article&id=12179:ejecutivo-pedira-priorizar-varias-leyes-a-la-asamblea-nacional-&catid=2:politica&Itemid=43
(basic translation)
Executive will ask to prioritize several laws to the National Assembly.
Saturday, April 24, 2010 16:14
CY Presidency of the Republic.
Pomasqui (Pichincha).- The President of the Republic, Rafael Corea, during the Civic Link Nº 169 announced that will be asked to the National Assembly to give priority to the most important laws than the country requires, under the criterion of socioeconomic and political transformation.
The First Proxy indicated that inside the legislative waybill is the Law of Hydrocarbons, in which is proposed that at least the 12% of the "utilities that generate the projects of exploitation" -- or "profits generated by the mining projects" per another translation) remain in the communities.
Law of Regulation and Control of the Market.- On this theme, the Head of state notified that "he is going to arise opposition by this regulation on the part of the large industrialists, land owners, the chambers of production because do not want anyone to control them".
He indicated that this Law in the United States has more than one century and in Chile more than 50 years and Equator is the only country of South America that does not count on that law. Other government bills of importance are: the Public Finances Planning Code, the Code of the Production and Commerce and the Law of Supportive and Popular Economy.
Law of Telecommunications.- Jaime Guerro, minister of Telecommunications, indicated that the Law of Telecommunications is obsolete, all the laws that govern this sector have changed in the years 80, from services, management of networks and the implementation of new concepts of the company of the information.
Because of it, the minister indicated that there has to be a transformation in the Law of Telecommunications that governs in the country with the objective that the company of the information I arrived at all the Ecuadorians.
/CY Presidential Press