Canary Islands Marine-Maritime. Key players to foster the industry.
- Novara Capital Group
- Jun 17, 2019
- 4 min read
The Canary Islands is a Spanish archipelago located in the Atlantic Ocean and belongs to the outermost regions (OMR) of the European Union. Historically, the Canary Islands has been considered a bridge between four continents: Africa, North America, South America, and Europe. Due to being an island with a strategic and privileged location, the Marine-maritime sector is one of the fastest growing, in fact, it is the second industry with the highest closing sales rate (13%).
According to the EOIEC Final Report, this macro-sector has a great potential in activities, which include naval repair, maritime transport, infrastructures and port services, sports and recreational boating, fishing and aquaculture, and marine research/marine economics. These activities have multiple internationalization channels, the main through the presence in destination countries (with subsidiaries, for example) and the international clients attraction.
The level of development of clusters and platforms for the internationalization of the marine-maritime sector in the Canary Islands is quite developed compared to other industries. The main actors to develop and promote it are:
Clúster Marítimo de Canarias (Maritime Cluster of the Canary Islands)
The Maritime Cluster of the Canary Islands is a non-profit association with a regional scope, whose main objective is to promote the development and international competitiveness of the Maritime Sector of the Canary Islands. It looks for an increase in the business, economic and social fabric of the Canary Islands through integration, creation, strengthening, and sustainability of the companies and institutions that are within the value chain of this sector. It also promotes its international presence and raises the technological and innovative level of all the agents involved.
The Cluster is the dialogue and meeting place of all the agents related to the sea. Its core values are cooperation, commitment, communication, and competitiveness.
It is driven by five strategic pillars:
1. Strengthening of the Marine-maritime sector, through the collaboration and coordination of the agents related to the industry.
2. Specialized training to improve the human resources skills of companies belonging to the sector, and their quick adaptation to technological and market changes, as well as new professional opportunities in the marine-maritime industry.
3. Enhance technological development and innovation among companies in the Canarian marine-maritime sector.
4. Encourage the internationalization of companies and the Cluster international dimension through business and institutional cooperation.
5. Improve the competitiveness and sustainability of companies that belong to the Cluster, promoting cooperation and business excellence.
Canary Islands Suppliers
Canary Islands Suppliers is a brand controlled by the Maritime Cluster of the Canary Islands, which is considered the first internationalization overview of exporting companies and service provider companies in the Canary Islands.
It focuses on the internationalization of the companies that belong to the Cluster, showing in other markets (national and international) their high level of professionalism, specialization, and qualification, positioning as a logistics and services hub in the Atlantic ocean. It also facilitates to Canary companies the attraction of potential national and international clients, at the same time that it simplifies the search and the localization of services for these clients.
Canary Islands Suppliers addresses to potential customers who need services across the West Africa coast or specialized services in their country of origin, and all those multinational companies that established their operations base in the Canary Islands.
La Plataforma Oceánica de Canarias (PLOCAN)
The Oceanic Platform of the Canary Islands (PLOCAN) is a Research Infrastructure (RI) labeled by the ICTS (Unique Scientific and Technological Infrastructure) Spanish National Roadmap, co-funded by the Economy and Competitiveness Ministry of the Spanish government and the Canary Islands government and by the European Regional Development Fund (ERDF) under the Operational Programme of the Canary Islands.
PLOCAN is a multipurpose technical-scientific service infrastructure that provides support for research, technological development and innovation in the marine and maritime sectors, available to public and private users. It offers onshore and offshore experimental facilities and laboratories, (operates the entire year thanks to the Canary Islands excellent climatic conditions). It also brings a broad experience in large national and EU marine/maritime projects.
PLOCAN provides:
● An ocean observatory for continuous and real-time monitoring in fields for the study of global change and ocean acidification, water-column and deep-sea ecosystems, ocean biogeochemistry, and geophysics.
● A testbed for the research, demonstration, and operation of marine technologies, especially those related to marine renewable energy.
● A base for underwater vehicles.
● A training platform for institutions and enterprises.
● An innovation hub that offers efficient and high-quality R&D&I project management services, as well as other user-oriented technological and non-technological services.
The Canary Islands have the requirements to develop and strength maritime projects in the long term. The Marine-maritime sector, besides being a fundamental industry for the Canarian economy has the potential to be exploited in the future.
The implementation of these hubs encourages confidence for foreign investment and for companies in the sector that wish to settle there.
If you have a company that belongs to the sector and you are looking for new opportunities, we invite you to contact us, so we can give you advice on the subject and explain to you the benefits that the island has, such as Tax Incentives.
Novara Capital Group is an international tax & capital investment consulting firm. We specialise in Corporate Structuring, European Union Tax Incentives, IP Positioning, and Transactions / M&A. We provide intelligent corporate structures, advice, and an integrated service which cross delivers in businesses. We advise companies globally to accelerate international growth, optimise net profits, and enhance equity value leveraging Intellectual Property and Licences. Our in-house experts specialise in International Tax Law, Company Law & Cross Border Jurisdiction, Investment & Asset Management, Mergers & Acquisitions, and Operational Management.
Get in touch today to arrange an introductory conversation for more information.
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