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Ecuador's 2Q Foreign Direct Investment Totals $203 Million

QUITO -(Dow Jones)- Ecuador's direct foreign investment totaled $203 million in the second quarter of 2009, rising from the $103 million registered in the same period last year, the central bank said Wednesday.

The central bank added that investment in the oil and mining sector made up most of that total with $70 million, followed by manufacturing at $40 million, transportation and communications at $37 million and agricultural and fishing, $ 33 million.

Meanwhile, according to the bank, the electricity, gas and water sector saw a net $4 million outflow.

The central bank said $44 million of the FDI came from Argentina, $24 million from Mexico, $21 million from Spain, $15 million from Panama, and the rest from other countries.

Foreign direct investment in Ecuador totaled a net $121 million in the first quarter of 2009.

In calculating the FDI, the central bank strips out loans made by foreign companies to their Ecuadorian subsidiaries.

Analysts said the lack of juridical security, among other factors, make it very difficult for Ecuador to attract foreign investment.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@ dowjones.com

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  11-04-091043ET
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