The Ministry of Commerce, Industry, and Tourism of Colombia announced that two groups of Ecuadorian entrepreneurs will invest in the agriculture and tourism sectors. One of them is Provefrut, which will inject capital of 10 million euro in the production of Hass avocado for export in the form of frozen fruit.
Provefrut specialized in the export of broccoli and in recent years it has exported cauliflower, kale, Romaine lettuce, and spinach to the United States, Japan, Taiwan, and the European Union.
The company, which has two production plants in the Ecuadorian provinces of Cotopaxi and Pichincha, has plans to expand its product portfolio and expand, stated Alfredo Zeller, the president of the company, in an interview with Primicias.
One of the reasons that led Provefrut to invest in Colombia was to escape Ecuador's bureaucracy and do business in a country where processes are more agile. 11 steps are required to register a company in Ecuador. Meanwhile, in Colombia, only 7 are needed. This procedure, on average, takes 48.5 days in Ecuador and only 10 days in Colombia, according to data from the Doing Business report.
According to the director and shareholder of the company, Francisco Correa, another thing that attracted Provefrut to Colombia was that, unlike Ecuador, Colombia had signed several free trade agreements, which is essential to develop exports.
The lupine adventure
Another of the projects in which Provefrut has been working on is the production and export of lupine.
"We have been working for 18 months with local and American investors on a plan for the industrialization of lupine in different presentations, ranging from flour to a cooked product," Zeller stated.
The investment in this project amounts to 15 million dollars.