‘Best in Gran Canaria’ establishes new business links in Iceland

The Chamber of Commerce of Gran Canaria, member of the ‘Best in Gran Canaria’ initiative, is organising and leading a direct trade mission to Iceland as part of the island’s ‘International Promotion Plan’, co-financed by Cabildo de Gran Canaria.

This action, taking place from September 4th to 8th, proves the public commitment to the internationalisation of the island’s business ecosystem, yet also the many opportunities that arise on Gran Canaria for foreign direct investment. 8 local companies partake in the business trip.

The Sociedad de Promoción Económica de Gran Canaria (SPEGC, Economic Promotion Company of Gran Canaria) and the ‘Best in Gran Canaria’ initiative, this time represented by the Chamber of Commerce, Industry, Services and Shipping of Gran Canaria, have re-commenced in-person trade missions with a joint public & private visit to Iceland. The aim is to promote business opportunities between firms and organisations in both areas and to spread awareness of expanding investment opportunities in Gran Canaria for Icelandic firms irrespective of the type of company and sector.

The SPEGC chose Iceland as the country to restart this type of meetings due to a strategic decision based on recent success stories and shared bilateral interests. Both Iceland and Gran Canaria are committed to ecological and digital transition; they have similar economies with a broad scope for collaboration in developing technological solutions, start-ups and audiovisual products, as well as in consolidating maritime and tourism relationships. In fact, Gran Canaria has had long-standing ties with Iceland as a result of its major economic drivers, the port and fishing industry and the tourism sector.

The financial year 2020 saw some positive news in the form of Icelandic investments in Gran Canaria in sectors as diverse as product design and digital animation. Now 2021/2022 looks much more promising for the Canary Islands due to the favourable economic situation, the recovery of tourism and the other advantages Icelandic firms can find on the island (location, tax regulations, cost of living, IT talent, etc.).

As a ‘Best in Gran Canaria’ member, the Chamber of Commerce is acting as a representative of the island’s organisations on this trade mission—arranged together with other institutions (Canarian Government and the Consulate of Iceland in the Canary Islands). The Chamber of Commerce is duly acting as organizer, technical leader and promoter of the island using resources prepared by SPEGC/‘Best in Gran Canaria’, such as the successful Tax Guide 2021 and the Relocation Guide to Gran Canaria.