THE CANARY ISLANDS BUSINESS HUB

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1 THE CANARY ISLANDS BUSINESS HUB

2 INDEX 1. TheCanary Islands Business Hub 2. Main factors 3. Reduced costs 4. Conclusions

3 1.1 The Canary Islands Business Hub Business Hub Foto: dmytrok, Flickr Singapur Foto: Wolfiewolf, Flickr Hong Kong Foto: brownpau, Flickr Miami Common Features Near to fragmented markets origin/ destination Excellent logistics and telecommunications facilities Highly qualified human resources Legal security and political stability Favorable business environment Local market highly developed Canary Islands Position European spot closer to Occidental Africa Port and airport facilities of first class; telecommunication infrastructures of high quality Public school available for the whole population at European standards Under Spanish legislation in a democratic state and fully integrated in the European Union Free market economy and free concurrency consolidated M$ domestic consumption

4 1.2 The Canary Islands Business Hub What can the Canary Islands offer? Canary Islands assist US and EU businesses in reducing their risks and costs for operating in Africa ( providing local partners in West Africa, distribution partners, logistic solutions, better access to multiple African domestic markets). EU standards in quality of life: 1 American school and 16 British, universal health care system, cosmopolitan culture (golf, windsurf, theater, music festivals,..) Canary Islands Government politics addressing Africa and point of reference for the Spanish National Politics towards African markets. Track Record: USA experience in the Canary Islands The International Red Cross Federation and the United NationsWorld Food Programs have set their logistic bases for Africa The Canary Islands is supporting the logistic operations of the USAID in Africa. Mining companies with operations in Africa and expatriate and operation basein Canary Islands. The only European Union Port located in West Africa. The Canary Islands provide all services to the OSV s, anchor handling vessels, research vessels and oil rigs tradingin the area.

5 1.3 The Canary Islands Business Hub: Geostrategical location Direct Flights to: MOROCCO Casablanca Agadir Dakhla Goulimime Marrakech Laayoune Others MAURITANIA Nouaktchott Nuadibú SENEGAL Dakar CAPE VERDE Praia GAMBIA Banjul

6 1.4 The Canary Islands Business Hub: Geostrategical location Sea Connections:

7 2.1 MAIN FACTORS European democracy International banks Transfers transparency Doble taxation agreements Political Data security EU Directives and framework Economy SECURITY Legal 80º average temperature Public Health(14 hospitals) Cosmopolitan culture World spot for nautical Sports 4 Natural parks, 3 marine and 5 biosphere reserves Quality of Life

8 2.2 MAIN FACTORS: THE CANARY ISLANDS KNOW-HOW 120 Canarian companies established in Africa 60 CAPE VERDE 10 MAURITANIA 15 SENEGAL 30 MOROCCO 15 Equatorial Guinea Main sectors:construction, distribution, logistics, services and tourism. Also canariancompanies are winning international tendersin the service, architecture and engineering sectors in Africa.

9 3.1 REDUCED COSTS Human Resources: Competitive Wages Engineers, biologists 33,149 $ minimum annual salary COSTS 7-9 $/sqmtrentprice Free TradeZones 4% CorporateTax Application of double taxation agreements with USA and african countries HUMAN RESOURCES Languages Qualified 40 bilingual schools 1 American and 16 British 2 Public Universities 300 R&D groups 4 Technological Institutes

10 3.2 REDUCED COSTS: Specific Fiscal Incentives Double taxation treaty agreements signed: Onprocess:

11 4. Conclusions What the Canary Islands can offer : Support to Virginia and DC based companies in their operations in the West coast of Africa, such as: 1. Regional corporateheadquartersbase 2. Base for expatriate personnel 3. Operations, repairs, maintenance and conversion on all typesof engineering and logistics issues. 4.Reducing their risks and costs for operating in Africa ( providing local partners in West Africa, distribution partners, logistic solutions, better access tomultiple African domestic markets). The Canary Islands Government is devoted to position The Canary Islands as main hub for American companies 5. We can provide free consulting services, linkage with local partners and institutions in the Canary Islands.

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