Canary Islands Launches Strategic Projects Office to Boost Investment Attraction
The Canary Islands establish a Strategic Projects Office to streamline investment attraction and bolster economic diversification.
Key Points
- • A Strategic Projects Office has been launched in the Canary Islands to enhance investment attractiveness.
- • The office is allocated a budget of 1.1 million euros for operations over two years.
- • Focus areas include aerospace, digitalization, and audiovisual sectors in line with economic diversification.
- • The government is also enhancing cybersecurity collaboration with local institutions.
The Government of the Canary Islands has officially launched a Strategic Projects Office under Proexca, aimed at enhancing investment attraction and supporting significant projects across various sectors. Approved on June 9, 2025, this initiative seeks to tackle bureaucratic challenges that often hinder timely project execution, ensuring that the region remains attractive to investors. The office will focus on pivotal sectors such as aerospace, digitalization, and film production, aligning with the islands' strategy to diversify its economy away from the traditional tourism sector.
A budget of 1.1 million euros has been allocated for the office's operations over the next two years, emphasizing the government's commitment to streamline investment processes. Vice Minister of Presidency Alfonso Cabello noted the necessity of this specialized office to enhance the Canary Islands' competitive edge and support projects that can significantly contribute to the local economy and society.
In conjunction with this investment initiative, the government has collaborated with the Cabildo de Tenerife to improve cybersecurity measures, joining the CSIRT-CAN initiative allocated approximately 7 million euros from the Next Generation EU funds to bolster local cybersecurity frameworks. This dual approach not only promotes investment but also ensures that local institutions can protect sensitive information effectively.
Moreover, the government is committed to implementing the 2030 Agenda for Sustainable Development, fostering partnerships with local business organizations to integrate Sustainable Development Goals (SDGs) into economic practices, thus positioning the Canary Islands as a leader in sustainable and innovative development in the region.