Institutional visit to the ZEC of the founder of the Canadian Council on Africa (CCAfrica), Nola Kianza.
The president of the Canary Islands Special Zone (ZEC), Beatriz Barrera, has received in Las Palmas de Gran Canaria the institutional visit of Nola Kianza, responsible for promoting trade and economic development between Canada and Africa since 2002 and, founder and executive director of the Canadian Council on Africa (CCAfrica), and entity with which the ZEC collaborates in its economic promotion strategy as one of the opportunities within the initiative of the regional government, the Canary Islands, European hub towards Africa. Thereby, last March, the CCAfrica hosted a seminar, held in Calagary, where the ZEC participated together with the Canary Islands Economic Development Company (PROEXCA) to explain to Canadian investors the key strategies of the islands as an operation base into Africa.
Canada and the United States are target countries for the ZEC. Therefore, the promotion in the US market focuses on strategic sectors for the regional economy, create jobs and diversify the productive network of the Canary Islands. “The ZEC is now an incentive that, after its renovation, has multiplied its advantages. Advantages approved by the Community authorities, reinforcing its value to promote the Canary Islands as an investment destination. The economic and legal security of this system plays a determinant role.” The president emphasised that the incentive on the international markets as an opportunity of the Canary Islands must be projected, as its benefits are mainly linked to job creation.
Finally, Beatriz Barrera remind that in September 2014, the ZEC and the Canary Islands government through PROEXCA participated in the business Canada-Africa summit 2014 (Toronto) where the interest of the Canadian companies in the archipelago as a hub of services for the projection of their business activity to emerging markets in Africa was proved. The objective is to attract investment of the country to the Canary Islands and now, more than ever, we count with evidences and success stories that cast us internationally”, she said.
The Canary Islands receive the first business mission backed by the US Government to know the advantages of the islands as a logical ‘hub’
- Economy and the ZEC welcome the representatives of 9 American companies which make up the mission and that will participate in the ‘Africagua 2015’ Congress.
The Deputy Minister of Economy and Economic Affairs with the European Union of the Canary Islands, Ildefonso Socorro, has received today the first American business mission that visit the Canary Islands with the support of the US Government for knowing the competitive advantages the islands offer as an international logistic platform and participate in the Africagua 2015 Congress, to be held on 19th and 20th November in Fuerteventura.
Ildefonso Socorro took the opportunity to encourage American companies to first-hand the opportunities that the Canary Islands offer as an international partner in its relations with Africa and to establish contacts with local agents for the development of join projects.
The Deputy Minister of Economy was accompanied at the ceremony by the General Director of Economic Affairs with Africa of the Canary Islands Government, Pablo Martín Carbajal, and for the president of the Canary Islands Special Zone (ZEC), Beatriz Barrera, who presented the main attractions that the islands provide to the companies and foreign investment.
Ildefonso Socorro said that “the vocation of the Canary Islands as a tri-continental platform is stronger than ever now that the foreign presence of the Canary Islands has acquired weight and the relations with neighbour countries have been strengthened”.
In this context, he recalled that the conclusion of this business mission is the result of the internationalization strategy undertaken in the United States by the Canary Islands Government, in collaboration with other institutions such as the ZEC, to spread the competitive advantages that the islands provide as a European region from which to operate with the neighbouring continent.
Meanwhile, Beatriz Barrera pointed the importance of this business mission for the regional economy, due to the interest of the US capital for establishing alliances with local partners, which is an opportunity for the development of business initiatives and for the internationalization of the local business. “This shows that we count with companies prepared to project us internationally”, she marked.
The president of the ZEC emphasized that after the tax reform of the REF, the ZEC has become a great value for the international promotion of the Canary Islands as a business platform. “The full economic and legal security of this incentive, which tax advantages have been authorized by the European Union (EU), provides a full guarantee to international investments”, she said.
In this context, she stressed that all the activities of the companies participating in the mission are covered for their full development under this regime of low taxation, which aims to create employment in the sectors to diversify the productive structure.
In total, there are 9 American companies who have come to this meeting, among which there are companies of energy management systems, portable solar generators and providers of solutions for mobile power generation, together with consultants and advisors who have in their customer base companies linked to renewable energies.
With them, the Canary Islands were also visited by a small institutional delegation, composed of members of Foreign Trade of the United States Department, along with other representatives of the Federal Government, and of the Economic and Commercial Office of Spain in the United States.
The companies participating in the mission have economic interests in a dozen of African countries, including the countries of the west coast with which the Canary Islands maintain a great cooperation, such as Morocco, Cape Verde, Senegal and Mauritania.
Among the main reasons why, as explained, they have decided to visit the Canary Islands is the develop of international relations and partnerships in energy and research projects, creating a network of strategic contacts, identifying future local partners and learning about the opportunities that the infrastructures of the Canary Islands offer in the relations with Africa.
The program of the mission extends all week and includes various professional meetings and a visit to the port facilities in Santa Cruz de Tenerife and in La Luz in Las Palmas de Gran Canaria, the Canary Islands Technology Institute (ITC), the Renewable Energies Institute (ITER) and Casa Africa, among others.
The trip concludes on Thursday and Friday in Fuerteventura, where the American business will participate as special guests in the Africagua 2015 Congress, together with more than 200 participants, among companies, international organizations and institutions of the European Union, United States and Africa, for analysing the opportunities that the African continent offers for the realization of projects related to water and renewable energy.
The Canary Islands Special Zone (ZEC) will go to the Noah Conference 2015, which is going to be held in London on 12th and 13th November, one of the most prestigious conferences in Europe in the field of digital business and a key point for the Internet industry.
This important networking forum, which gather leading companies, CEOs and internet entrepreneurs, as well as relevant international investors, is the scenario in which the ZEC will meet with business interested in the opportunities that the Canary Islands offer as a technology platform with tax advantages for digital business.
London is one of the world’s most attractive centres of digital and technological innovation and a strategic point for the launch of global business, that is the reason why Noah Conference has become a reference to expose and deepen new trends and business models for the digital industry, besides providing contacts and business relationships in this area.
The Canary Islands Special Zone (ZEC) will participate from 7th to 10th November at the American Film Market, considered the leading independent film market, held in Santa Monica (Los Angeles) California, with the aim of presenting their tax incentives as one of the attractive of the Canary Islands for the audiovisual industry.
In this edition of this event, which is attended each year by more than 8,000 professionals from 80 countries, the ZEC has planned an agenda of business meetings to communicate these attractive tax incentives to attract investors for the audiovisual sector to the Canary Islands. To spread the benefits of filming in the Islands, the Films Commission of Tenerife and Gran Canaria and also the Canary Society for Economic Development (PROEXCA) come.
Canary Islands has received in recent times major film production from the likes of Universal, Fox and Warner. International shootings have been driven through the opportunities of the Canaries as a natural setting and through the incentives for the industry; on the one hand, the Economic and Fiscal Regime (REF) of the Canary Islands and on the other hand, the Corporation Tax Law in relation to deductions for investments in both domestic and foreign production and R+D+i.
For the audiovisual industry, the Islands have a unique fiscal framework, with a reduced rate of 4% in the income tax that the ZEC provides to develop, in the Canary Islands, production activities, post-production, production services, dubbing, photography, advertising, distribution, streaming, animation and videogames development among others.
To this is added that this ZEC fiscal tool is compatible with other fiscal incentives, including deductions, under sections 35, 36.1 and 36.2 of the income tax, with deduction rates higher than the rest of the national territory in, at least, 20 point percentage, with rates of 40-38% for investments in domestic production, 35% for the international ones and 45% for investments in R+D+i.
All these advantages make the Canary Islands the best destination in Europe for investment in the audiovisual sector.
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