Encuentro entre Ortega y Olivera

CanariasZEC and the government are analysing new measures to keep moving forward towards internationalisation


Pedro Ortega, the minister for Economy, Industry, Commerce and Knowledge of the Government of the Canary Islands and Antonio Olivera, president of the Canary Islands Special Zone (ZEC), analysed today the future implementation of new promotional activities to allow the Canary Islands keep moving toward the internationalisation of its economy, by attracting new foreign investments from the British and Chinese markets. The vice president for Economy and Economic Affairs with the European Union, Ildefonso Socorro was also present in this meeting.

Olivera pointed out that a complementary planning has been proposed which is included in the Action Plan of the company. The latter has a framework of multiannual programming 2014-2020 in accordance with the effect of the European Guidelines (EU) on national regional aid. The president of the Canary Islands Special Zone (ZEC) noted that this planning has a two-fold purpose: on the one hand, attracting investments arising from the Brexit and, on the other hand, conducting an analysis of the Chinese market.

In particular, the government and the Canary Islands Special Zone (ZEC) agreed that the current Brexit process offers an opportunity to try and attract new investment projects from companies located in the United Kingdom looking to stay within the European Union (EU), using the competitive advantages that the low taxation system of this incentive offers to companies.

Additionally, both departments agree to undertake new steps to help open the Chinese market through, for example, prospecting trips for companies from said Asian country to the Canary Islands.

Pedro Ortega highlighted the good results obtained in the Canary Islands, as the gross productive investment has increased from 87.7 million euros in 2005 to more than 173 million euros registered in 2018.

These results, he explained, “are a direct consequence of the implementation of the approved Operational Strategy for the Internationalisation of the Economy of the Canary Islands 2016-2020 and of the effort that the Government of the Canary Islands has made, in collaboration with the rest of companies and organisations involved in the expansion of the Canarian economy, throughout their period in office with the aim of branching out into new markets and advertising the opportunities offered by the Canary Islands as a logistics hub for international business”.

Promoción de la ZEC en La Asamblea Oil and Gas

CanariasZEC attends the Africa Assembly Oil & Gas Council held in Paris


Canarias.- The Canary Islands Special Zone (ZEC) has introduced the tax benefits of the incentive for the development of businesses related to the offshore industry during the Africa Assembly Oil & Gas Council, which took place in Paris.

The ZEC attended the event to promote Europe’s best tax scheme, with a 4% tax corporate tax rate, under The Canary Islands The One-Stop-Shop for the offshore industry in the Mid- Atlantic, together with the Canarian Society for Economic Development (Proexca), organising entity of this event which is part of the Government of the Canary Islands and which also introduced the other advantages the islands offer for this sector, such as: some of the best ports located near Africa; top-tier infrastructures for offshore; the application of the European legal framework; the excellent climate and quality of life, and the legal certainty.

The Africa Assembly Oil & Gas Council has been recognised as one of the main events for the African energy industry -Oil & Gas- to do business through investors who support innovative projects in this sector across the continent.

Promoción de la ZEC en Alemania



Canary Islands – The Canary Islands Special Zone (ZEC) presented the advantages of this incentive to internationalisation to 25 entrepreneurs at the seminar ‘Investment possibilities in the Canary Islands’, which was organised by the Canary Islands Economic Development Company (Proexca) and Génesis Consulting in Hamburg (Germany).

During this meeting, which has been added to the calendar of institutional promotion of strategic markets, the opportunities of the Canaries, and especially those of the ZEC, were shown as a European business hub. The Canaries offer a special rate of 4% on corporate tax and the retribution of dividends without withholding tax, which make them the most attractive tax system in Europe. During the time spent on successful companies established in the islands, the ZEC company Simon & Focken, which is part of the Invitel group, gave a description of their experience in the Canaries.