NEWS

The Canary Islands Special Zone (ZEC) will present today its fiscal framework for operating from the Islands in the webinar: ‘Opportunities and conditions for German industrial companies in the Canary Islands’ at the Handwerk International Baden-Württemberg. A technical seminar on those aspects related to the Islands, among which the ZEC will be one of its thematic blocks. In this context, the participating companies will be made aware of the possibilities of an incentive that provides very competitive conditions to operate from the Canary Islands. This intervention is part of the ZEC promotional activities calendar planned for this financial year, focused on attracting international capital and targeting key sectors for the economic diversification of the Islands.

The Handwerk International Baden-Württemberg is a division of the Chamber of Commerce of the Stuttgart region, Germany, representing nearly 135,000 associated companies related to industry and manufacturing. Thanks to digitization, the member companies, mostly SMEs, expand their possibilities by opening up to new markets and managing opportunities or synergies aimed at expanding their business networks, in this case having the Canary Islands as a destination. The Archipelago in its set of opportunities as a business platform, has the added value of an unrivaled low tax regime authorized by the European Commission (EC), which guarantees full legal and tax security in accordance with community guidelines.

In this context, Handwerk International’s foreign trade consultants will advise companies on issues related to the economic environment, legislation, access to international business networks, as well as investments abroad. This webinar is the first of three actions related to the Canary Islands, which are contextualized in the Handwerk International scheduled for 2021.

The President of the Canary Islands Special Zone (ZEC), Pablo Hernández, met today with the Vice president of the Canary Islands Government and Minister of Finance, Budgets and European Affairs, Román Rodríguez, as the first institutional contact, after the recent appointment of the head of the ZEC. The meeting focused on the role of the ZEC in the economic reactivation at such a crucial time for the Islands. As a next step, the commitment was announced to start a round of work sessions aimed at deepening the analysis of the ZEC, its role in the economic development of the Canary Islands and in relation to the rest of the fiscal and economic policy.

Hernández specified that “it is about evaluating the role of the ZEC for the generation of employment, as well as its interaction with the rest of the incentives of the Autonomous Community of the Canary Islands and the Economic and Fiscal Regime to enhance them as a whole with the purpose of that help in the global strategy aimed at reactivating the economy of the Canary Islands ”. Remember that last week, Hernández had his first contact with the President of the Government of the Canary Islands, Ángel Víctor and the Minister of Economy, Knowledge and Employment of the regional Executive, Elena Máñez, to outline the basic guidelines of work in this new stage .

Canary Islands.- The newly appointed President of the Canary Islands Special Zone (ZEC), Pablo Hernández, has maintained this morning, at the headquarters of the Presidency of the Government in Santa Cruz de Tenerife, a first contact with the president of the Canary Islands, Ángel Víctor Torres, and the Regional Minister for Economy, Knowledge and Employment, Elena Máñez. Hernández, who was the person proposed by the regional government to preside over the ZEC Consortium, acceded to this position after the Council of Ministers ratified his appointment last Tuesday.

At the meeting held today, both Torres and Máñez congratulated the new head of the ZEC for his recent incorporation to such an important position, something they did before proceeding to a basic analysis on what will be the operating guidelines of the ZEC at this stage with new address.

The ZEC is a productive area with low taxation of companies contemplated in the Economic and Fiscal Regime of the Canary Islands (REF) and a key element in attracting investments from abroad, especially in order to deepen the economic diversification of the Islands and in the promotion of projects related to R + D + i. The Special Zone is called to play a relevant role in the economic recovery of the Archipelago, as foreseen by the Plan Reactiva Canarias after the social and economic crisis unleashed by the COVID-19 pandemic.