ENGINE of growth

Contributing around 21% of the country’s GDP, Guayaquil holds the key to positioning Ecuador as one of the fastest-growing markets in the region.

“Guayaquil is home to the largest port in Ecuador

and the seventh-largest port in Latin America and the Caribbean.”

What does Guayaquil represent for the Ecuadorian economy?

Guayaquil is the economic engine of Ecuador. When we talk about Guayaquil, we have to include the greater Guayaquil and the impact it has had on its sister cities of Daule, Durán, Samborondón, and Milagro, as well as the rest of the Guayas province. Guayaquil is a vibrant city that is open to new businesses. It is home to important industries such as manufacturing, professional activities, real estate, trade, construction, and agriculture. Notably, the city generates 21% of the country’s GDP. Guayaquil is home to the largest port in Ecuador and the seventh-largest port in Latin America and the Caribbean. In 2018, the port moved a total of 19,794 tons for cargo. Additionally, we have the deepwater Port of Posorja, which was recently inaugurated. It promises to be one of the most important ports in South America. It will position Ecuador as one of the fastest-growing markets in the region and boost the country’s competitiveness in global trade. Guayaquil has 15 universities, including the Escuela Superior Politécnica del Litoral, which is among the top-100 universities in Latin America. Guayaquil offers an ideal business climate and it is renowned nationally and internationally for its political and institutional stability. The city has always stood out for having a public administration model that focuses on infrastructure development and the overall living conditions. Our goal is to attract more private investment for large developments. To that end, we work hand in hand with the chamber of commerce, the chamber of industry, the chamber of SMEs, the chamber of construction, and the chamber of aquaculture to meet the needs of different sectors.

Guayaquil will inaugurate Aerovía in 2020. What benefits will it bring?

Aerovía Guayaquil is a cable-drawn urban transport system. It will be inaugurated on October 9, 2020, which will mark the 200th anniversary of Guayaquil’s independence. Construction started in June 2018 under the PPP model with a USD134-million loan awarded by the Agence Française de Développement. Aerovía Guayaquil will also be linked with Metrovia and Corredores Viales. It will have the capacity to transport 40,000 passengers per day, 2.1km over urban areas, and 2km over a river. In total, Aerovía Guayaquil will cover 4.1km with five stations.

Guayaquil stands out for its infrastructure thanks to developments such as Posorja Port. The government is also working on a plan for a new airport. What will the new airport represent for the region and the country?

The project will be developed on an area of 2,020ha. The goal of this megaproject is to ensure that Guayaquil, the region, and the country have a state-ofthe-art airport in a location that will not face limitations or restrictions, enabling the city and the region to boost tourism and trade. The new airport will be a development hub and will be fully aligned with other megaprojects that we have planned for the next 50 years. At present, we estimate that the new airport will start operations somewhere between 2020 and 2026, depending on how the growth in air traffic will evolve at José Joaquín de Olmedo International Airport. According to our estimates, the construction and operation phases will require around six years, which includes the certification period for the new aerodrome. The airport will be located 28km away from the city of Guayaquil, in a sector named Via a la Costa. The location is around 50km away from the new deepwater Port of Posorja. Linking all three means of transport will add value to the city of Guayaquil, the new airport, and the region.