Arcadi Spain, Minister of Finance and Economic Model of Spain, announced that the deadline for requesting subsidized financing lines of the Valencia Institute of Finance (IVF) for 200 million and large tourism and industrial companies has been extended. As well as SMEs carrying out new investment projects that increase the competitiveness of the Valencian productive fabric until December.
These are IVF AFIN Major Tourism Corporation, IVF Invests Major Industrial Corporation and IVF Invests Pyme React EU Feder lines, which expire on 1 June and are now extended until 31 December. take advantage of the maximum number of companies possible“.
Arcadi Spain, at its request, appeared in Parliament to report on the policy outlines of the Department of Finance and Economic Model.
In his speech, the person in charge of the Generalitat’s financial affairs, He called for “second generation regional agreements”. This ensures, among other things, the adequacy of resources through the urgent reform of regional finance and the cancellation of the debt arising from insufficient financing”.
In addition, Arcadi Spain advocated “avoidance of tax havens in Spain and the unfair competition they create” and called for “State intensification without drama”.
In line with this, the Minister of Finance argued that we have an obligation to “maintain the welfare state and demand a dialogue that enables us to guarantee financial adequacy and equality in economic resources”.
Arcadi Spain also emphasized that energy audits will be carried out in all public buildings of Generalitat in order to obtain efficiency certificates. energy efficiency actions and use of renewable energiessomething that is strategic in the current situation”.
He noted that the Ministry of Finance has processed a 6 million framework agreement to contract these energy audits “to manage these services in a unified way in order to gain agility in processing and save costs”. outside.
In this context, Spain has stated that it intends to transform its public heritage into “eco-sustainability, where it seeks to implement energy efficiency and photovoltaic actions in public buildings”.
The main role of IVF
The head of the treasury stressed at the time of his debut that institutions are “the engine of stimulating the economy. Thus, Generalitat has been providing coverage to companies, freelancers and individuals since Covid with its Resist and Resist Plus Plans, and now with its Reactive Plan”.
“While this body carried out 72 years of operations amounting to 3.1 million in 2015, in 2021 it moved to 2,836 operations amounting to 321.2 million across subsidized financing lines for companies affected by covid, entrepreneurship, business growth. AFIN-SGR and social lines”, announced Spain.
“We must finance entrepreneurship through proactive action by promoting venture capital lines and programs to support the growth of Valencian companies; a hybrid financing strategy consisting of subordinated and participatory loans; and Supporting the IPO of Valencian companies“.
Transformation of the Valencian economic model
In his speech, Arcadi Spain underlined the key investment incentive strategy driven by the Autonomous Secretary of the Economic Model through “major transformative challenges: digitalisation, climate transformation and inclusive growth”.
In this sense, the minister reminded that the call for grants for commercial investment projects that contribute to the transformation of the economic model of our land of 12 million euros is open until 30 June. , more efficient and cohesive Valencia company contributes to increasing the competitiveness of our business structure”.
Importance of Digitization
Arcadi Spain also detailed that the General Directorate of Information Technologies (DGTIC) “sets the cornerstone of Consell in terms of digitalization” and that this department is “working on the implementation of digital platforms and applications that increase the efficiency and agility of the Administration”. “.
“One of Generalitat’s challenges is to have an efficient management,” said the Minister, “whereas the previous Consell paid Generalitat’s suppliers the bills within 90 days, today with this Consell we are in 15 days, thanks to greater availability of funds and increased efficiency in the electronic management of invoices.
He continued: “The Valencia cybersecurity model is a benchmark that allows us to work on the implementation of the ‘blockchain’ currently in Spain to provide transparency in data processing, guarantee protection and improve new security needs.”
The effectiveness of regional cuts
Arcadi Spain also highlighted the effectiveness of the regional cuts “as they have a social basis and stimulate our economy”, detailing that the Consell cuts saved more than €55 million in the last financial year.
“This Consell put an end to tax injustice in the Community of Valencia, where the lowest incomes paid in personal income tax are above average and the highest are below average. On the other hand, our region has the largest progressive income tax and continues its policy of social deductions,” he said. added minister.
preservation of heritage
Likewise, Spain has opted for the “purchase of landmark buildings” while stating that Generalitat’s heritage policy “focuses on the preservation of our buildings, making them open to the public and making them transparent and functional”. in the three provinces where all Valencian men and women should be the public heritage and property”.
In this sense, the Minister of Finance announced that “the acquisition of the Rafal Marquis Palace in Orihuela has been completed to house the water study center and become the center of the Vega Renhace Plan.”
A different response to the crisis
According to Arcadi España, we are now “in the context of a political change marked by tensions in the energy and raw materials markets leading to strong inflation, the activation of European funds and the gradual overcoming of the consequences of the pandemic.” .
“We are in the Valencia era, the arrival of business projects such as Valskwagen, Hewlett Packard, TMEIC or Stalwart Overseas to the Valencian Community only confirms that we are now a region of opportunity,” the minister said.