The Vice President of the Canary Islands Government, Manuel Domínguez, questioned the management and promotion of the Economic and Fiscal Regime (REF) by previous administrations on Friday. He stated that “the REF, as such, is the great unknown of our land.”
Despite being “our major competitive advantage” for driving economic growth, Domínguez asserted that “the REF has had a serious problem all this time: the Canarian society does not know it, the Spanish general politics does not know it, and the world does not know it.”
Presentation at the Ibero-American Chamber Assembly
While presenting the 52nd General Assembly of the Ibero-American Association of Chambers of Commerce, Industry, and Services in Las Palmas de Gran Canaria, he cited the “surprise” expressed by foreign investors during a trip to the Dominican Republic when discussing the benefits that the REF could offer.
He acknowledged that various regional governments have made efforts to renew, disseminate, and promote the REF. However, he insisted that there is still a “need for promotion, both at home and abroad.”
A Call for Greater Awareness
He remarked, “Have things been done in the past? Yes, but not enough. Have things been done in the past? Yes, but not with sufficient clarity. Have things been done in the past? Yes, but not with the level of belief in the REF that exists at this moment.”
Domínguez indicated that the establishment of a new REF commissioner is evidence of the strengthened commitment of the Canary Islands Government to this economic tool. He believes this reflects the increased discussion of the REF at present compared to the past.
EFE
