Ecuador: Worried about future of natural resources for revenue, attempting to build a silicon valley

Posted on August 13, 2014 • Filed under: Ecuador, Internet reported Ecuador is trying to build a high-tech city, which it hopes will spur a more diverse economy. The tiny South American country is concerned about possibly running out of the natural resources it relies on for most of its revenue. MELISSA BLOCK, HOST:

Now to Ecuador which is rich in oil and gold deposits. But the country’s natural resources may one day run out. So Ecuador is now trying to develop a high-tech economy by building a South American Silicon Valley. John Otis takes us there.

JOHN OTIS, BYLINE: Near the snow-capped Andean peaks of Northern Ecuador workers are constructing a brand-new city from scratch. Plans for this 12,000 acre site include a science and technology park and a world-class research university. There will also be a campus for companies like Microsoft, Cisco Systems and China Telecom that plan to set up shop here. Like Brasilia and other planned cities, it’s going up far from other urban centers in an effort to develop Ecuador’s interior. This new city of knowledge has been dubbed Yachay, a Quechua Indian word that means to learn. Even as construction continues some classes at the Yachay University have already begun. Read Article/listen to interview

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