Guayaquil has thrived under the mayorship of Jaime Nebot Saadi since 2000. From new transport infrastructure and tourism facilities to green initiatives and other quality-of-life improvements, it has been a colorful and prosperous 19 years.

Only by reining in bureaucracy, smartening regulations, freeing up private sector investment, and fighting corruption can Ecuador's new government bring about the needed economic transformation for which it was elected.

An important new productivity law unveiled in August 2018 is expected to have a huge impact on garnering much-needed foreign investment in critical sectors.

In their bid to confirm the country's long-term economic health, Ecuador's largest consortiums remain focused on adding value and sustainability, in addition to greater private investment.

Capitalizing on its export strengths and how it handles foreign direct investment, Ecuador is expanding into new markets and laying the precedents for long-term ties with Beijing.

The Central Bank is enacting a series of forward-thinking new laws to boost international reserves and strengthen the economy.

Longer-term tenure, increasing investments in large-scale mining, and local synergies are helping banks capitalize more regions than ever before.

The country's two stock markets have yet to operate on an equal footing, but both are working hard to ensure that investment, transparency, and smart regulations are maximized.

Insurance companies face an uphill battle in educating customers, remaining true to their calling, and reconciling themselves to slower growth.

In a market already somewhat saturated, insurance companies are being forced to hone their skills, better adapt to customer needs, and grow in a sustainable fashion.