The Government attracts 233 million of foreign investment to Canary Island creating 2,900 jobs

Tuesday, 03 March 2015

The Canary Islands government, through the public enterprise Proexca has captured a total of 233 million euros since 2012 in foreign business investments that have led to the creation of 2,908 new jobs in the Islands. With the mediation of Proexca, 86 foreign companies have settled in the archipelago in the last three years. "Result of economic promotion conducted", according to Gonzalez Ortiz, Minister of Economy, Finance and Security.

The main destination of this investment has been directed to strategic sectors such as audiovisual diversification, information and communication technologies, logistics and transport, informatics and electronics, biotechnology, renewable energy, and advanced services in tourism and health areas.

In this respect, the Minister of Economy, Finance and Security, Javier González Ortiz, highlights the intense promotion undertaken by the Government of the Canary Islands in national and international ambits to promote the advantages of the Canary Islands and tax aspects of the economic and trade regime (REF, in its Spanish acronym) as a centre of attraction  for foreign capital.
González Ortiz explains "We seek business initiatives that provide innovation and diversity to our economy which have wide impact on job creation". For the Minister "to position the Islands as a business logistics base in Africa is another pillar of our promotion".
In this regard, he stressed the "big step" that has led to the creation of the brand Canary Islands as a strategic HUB in Africa was to consolidate in 2014 as common strategy for attracting investment, driven by the Government and supported by the Island councils, city council, enterprise confederations, chambers of commerce and other institutions and entities.
Supporting Canary Enterprises
Moreover, between 2012 and 2014, 163 local businesses have managed to be outward and conduct business out of the Islands through the program of supporting internationalization "Canarias Aporta" executed by Proexca.
These companies have generated a turnover of 42 million euros through technical support and funding provided by the Government of Canary Islands. The main economic sectors that did business abroad, and went mostly to African and Latin American countries, have been construction, architectural and engineering services, consultancy, and technology companies.

In this impulse to internationalization has given great importance to the training. About 400 youths have been specialized as experts to advise the Islands entrepreneurs in their external openness. Most of them work in Canary societies, Spanish embassies, Proexca offices in other countries and international organizations like the United Nations or the World Bank.
With the last institution, Proexca recently signed a collaboration agreement that will allow six Canary trainees to develop their internship in order to complete their training at its headquarters in Washington, Johannesburg, Lima and Quito.
Source: Government of the Canary Islands



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