Collaboration agreement with Proexca to coordinate the attraction of International Investment to the Archipelago

ZEC Promoción

Canarias.- La Zona Especial Canaria (ZEC) y la Sociedad Canaria de Fomento Económico (Proexca) han suscrito un convenio de colaboración para la coordinación y seguimiento de las actuaciones de apoyo a la promoción para la atracción de inversión internacional a Canarias. Suscrito por el presidente en funciones del Consorcio de la ZEC, Pedro Alfonso Martín, y el director general de Promoción Económica en calidad de consejero delegado de Proexca, Laureano Pérez, el convenio cuenta con una vigencia de cuatro años, prorrogable por otros dos ejercicios, y supone otro paso en la actuación coordinada para evitar duplicidades institucionales en las diferentes iniciativas, por lo que se pueden adherir otras entidades públicas y privadas implicadas en la captación de inversiones a Canarias.

This new agreement represents a further step in the collaboration of both institutions that work with the common objective of attracting investment, promoting the set of opportunities of the Canary Islands as a territory within the framework of the (EU) together with its unique fiscal framework, among the that highlights the ZEC. One of the first points included in the agreement is the establishment of a collaboration framework to coordinate the execution of the respective annual promotion plans within the framework of the sectoral orientation. Both entities structure their promotion strategy according to two key axes: the sectorial and the geographic. In the case of the ZEC, this is included in the 2014-2020 Promotion Plan, a document approved by its Governing Council and subject to annual review to establish the precise adaptations.

In order to promote more effectively and optimize the investment attraction system for the Islands, a selection of opportunities has been made combining the following elements: investment angles (international platform with advantageous taxation, hub for West Africa, gateway entry to Europe or test market or “showcase”); functions (call centers, purchasing center, digital marketing and online sales, R&D center, expatriate base and back office, among others); strategic moment of the company and priority countries and sectors for foreign direct investment (FDI).  

In accordance with these lines, intensive work is being carried out in six main sectors:

1. Audiovisual, Animation, Videogames and Cultural Industries.

2. Biotechnology, Health and Pharmaceutical.

3. ICT and Outsourcing.

4. Renewable Energies, Environmental Sustainability and Waste and Water Treatment.

5. Marine-maritime, Transport and Logistics, Oil & Gas and Mining.

6. Multisectoral, including new emerging sectors (all the new opportunities detected that were not contemplated and have no place in the previous division are included and those that develop R & D & I, the circular economy and sustainable growth are prioritized, as well as such as female entrepreneurship).

They will work together on the definition and implementation of mechanisms for attracting and consolidating investments. This objective responds to four lines of action: detection of investment opportunities in the Canary Islands; identification and collaboration with external prescribers that contribute to the promotion of the Canary Islands as a destination for investments and “leads”; development and implementation of a procedure for the support (soft landing) of the companies in their implementation phase and another for the follow-up (after care) of the companies once the investment has been made. In this way, it is about consolidating the investor or established company to maximize its impact over time. Both entities will collaborate in the execution of actions to attract investments derived from:

1. International economic events that represent an opportunity to reinforce the Archipelago’s role as an international business center;

2. holding forums or organizing events;

3. the prospecting work of consultants and advisers aimed at large business groups;

4. and programs to attract existing investments of interest. It is established that all actions that involve geographical displacement, for security reasons to stop the spread of COVID-19, will be replaced by other alternatives that allow maintaining the promotional effectiveness of the actions, giving preference to those that develop virtual supports of according to the new technologies available.