NEWSLETTER JANUARY 2016
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January 2016
Canary Islands consolidates as a gateway to Africa at FICA 2015 The first International Forum of the Canary Islands (FICA 2015), held on December 17, gathered more than 170 entrepreneurs and has established itself as a key business meeting to discuss the opportunities offered by the Canary Islands as the definitive gateway to do business in Africa. This event brought together well-known international companies such as Rolls-Royce, Otech, Atos and Zebec that have chosen the Canary Islands as their logistics platform for business with Africa, Europe, America and Asia. These multinationals did not expect the high level of infrastructure in the archipelago when they first arrived. Currently not only have they access to first class infrastructure, an excellent connectivity and the European legal security, but they also enjoy an enviable quality of life, skilled workforce and the lowest tax incentives in Europe with 4% rate. Jose Maria 0’Kean, renowned economist, compared the Canary Islands Hub with a mix between Ireland and Singapore Hubs. In this sense, he affirmed: “Ireland was the gateway to
Europe and the Canary Islands should be the gateway to Africa”. The main reasons for Otech and Rolls-Royce, companies engaged in oil rigs repair, to settle in the islands was the identification of an important potential market for them, since their customers were increasingly operating in the region. Rolls-Royce valued positively the European legal system that guaranteed an agile implementation process. While, Otech, particularly appreciated the strategic location of the islands in the Mid-Atlantic, central to main worldwide shipping routes. For ATOS, a technology consulting firm with an annual turnover of € 11,000 million and 93,000 employees in 72 countries, qualified workforce and corporate income tax at 4% in the Canary Islands Special Zone (ZEC), were key to making the decision. While Zebec, Korean multinational and world’s leading manufacturer of inflatable canoes and boards, highlighted the great connectivity of the islands with 170 weekly flights to European cities, and also noted the high quality
of life, which has facilitated attracting personnel from abroad. To wrap-up the event, FICA 2015 awarded the international company QSTAR SUBSEA SOLUTIONS, located in the Canary Islands since 2007. QSTAR provides maritime solutions to the offshore and onshore industries with the highest quality standards, complementing the specialized services offered in the islands. Beside having the first training center for ROV pilots and supervisors in Spain, with students coming from all around the world, QSTAR is member of the IMCA ROV Training Steering Group.
“Otech particularly appreciated the strategic location of the islands in the Mid-Atlantic, central to main worldwide shipping routes”