| Ecuador's national industry warned on a slow development |
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The warning, however, is not new. In 2004, the Organization of the United Nations for the Industrial (Onudi) Development affirmed that "the Ecuadorian manufacturer is crossing the critical moment." It is possible that this has been a consequence of the financial crisis that the country lived between 1998 and 1999, when banks and financial institutions went bankrupt. However, there is also another explanation.Esteban Vega, the Secretary of Competitiveness for Ecuador, believes the problem lies elsewhere. "Ecuador lacks an industrial politics from the 80s when the laws of industrial development were small and where the national industry was managed free, without government support," Vega says. Carlos Ribadeneira, president of the Small Industry of Pichincha (Capeipi) supports the notion that small business lack government support: "Not support politicians have existed to the industrial sector," he said. |
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