The president of the Balearic Government, Marga Prohens (PP), announced this Monday the Strategic Projects Acceleration Unit (UAPE), a new instrument with which the regional Executive aims to expedite the processing of initiatives considered strategic and simplify the relationship of their promoters with the different administrations, with the goal of boosting the arrival of investments to the Islands.
During her speech at the forum "Baleares, territory of opportunities for strategic projects," organized by the CEOE and the CAEB, Prohens emphasized the importance of reducing bureaucracy, reinforcing legal security, and generating a "climate of trust and tranquility" that encourages investment, while also claiming the role of companies in the transformation of the Balearic economic model.
The president insisted that administrations must "accompany" and "facilitate" economic activity, and not become a brake for those who wish to invest in the archipelago. In her words, "without the private sector, without a good health of the private sector, without a private sector that generates opportunities, that generates wealth, there is no sustainability of the public."
In this line, Prohens recalled that the Islands are undergoing a process of change in their productive structure that requires attracting new companies, capital, and initiatives, demanding an Administration capable of listening, coordinating, and shortening response times.
The UAPE, single window for strategic projects
Regarding the UAPE, the president detailed that its purpose is to accompany strategic projects from their arrival in the community and facilitate their procedures before the different administrations. Thus, she explained that the promoter will have "one inter-promoter, not dozens of them," avoiding having to face a "chain of administrative obstacles."
She stressed that "it is not about skipping the rules or eliminating guarantees," but about preventing a project that complies with the regulations from being forced to overcome an excessively convoluted processing.
In this same direction, the vice president of the Government and councilor of Economy, Finance, Innovation, and Energy, Antoni Costa, specified that projects declared strategic will have "priority and preference" in their processing and that, by law, the deadlines for procedures of regional competence will be reduced by half.
Costa has added that these initiatives will be able to access certain lines of funding and economic incentives and that their promoters will have the possibility to intervene in the design of training actions adapted to their hiring needs.
The president of CAEB, Carmen Planas, has supported the package of measures and has emphasized that the regulatory framework promoted by the Govern "allows, facilitates, and accelerates" the processing of projects considered essential for the transformation of the Balearic economic model.
For his part, the vice president of CEOE and president of CEIM, Miguel Garrido, has defended "business freedom" and private property as "the two pillars on which economic growth rests," demanding "more business, more investment, and more employment."
In this context, he pointed out that the Balearic Islands offer "the right climate to be able to develop our projects with economic freedom, with reasonable taxation, and working to simplify the situation that in many cases hinders our reality."
Grow in value and diversify the Balearic economy
At another moment in his speech, Prohens has maintained that the Balearic Islands must move towards a more productive, diversified, and innovative economy, emphasizing that "they do not want to grow simply to grow," but to do so by generating quality employment and greater added value.
The president has pointed out areas with greater potential such as innovation, new technologies, energy transition, blue economy, industry, research, and knowledge, which she considers key levers for this new stage.
In this framework, Planas has agreed on the need to diversify the productive fabric and has defended that "diversifying is not decreasing, diversifying is growing better."
The president of CAEB has also emphasized that the Balearic economy maintains a growth close to three percent, above the national and European averages, highlighting the strength of the tourism sector and the good connections of the Islands with the main European cities.
More space for companies, talent, and innovation
Within this strategy, Prohens has focused on ParcBit as one of the main poles of innovation, research, and knowledge in the Balearic Islands, a central piece in the commitment to high added value sectors.
It has also emphasized the need to facilitate housing for researchers, workers, and professionals, as well as to strengthen the presence of the University of the Balearic Islands, in order to consolidate a competitive ecosystem.
"If we want to attract companies, we need to attract talent. And if we want to attract talent, we need to offer an adequate and attractive ecosystem," the president has argued.
On the other hand, Costa has highlighted the initial approval of a catalog of investment incentives that groups together the different fiscal, financial, and support tools available in the Balearic Islands, with the purpose of especially facilitating external investors' knowledge of the advantages offered by the archipelago.
Incentives and taxation to attract new investments
In the fiscal area, Costa has highlighted the measures adopted by the Govern to boost economic activity, citing as an example the incentives linked to the transfer of family businesses and to the acquisition of primary residences by young people.
To conclude, Prohens has reiterated the need for the Balearic Islands to consolidate as an attractive territory for new investment projects and has argued that the goal is for "the next big investment to look towards the Mediterranean and the Balearic Islands."