The Cádiz Free Zone Consortium could receive 5,4 million euros from the European Union's Brexit Adaptation Reserve Fund

The Executive Committee of the Free Zone Consortium has authorized

The Cádiz institution has attended by presenting the Campo-Gibraltar venue for this aid, which aims to provide financial support to mitigate the adverse effects of the withdrawal of the United Kingdom from the European Union.

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El Executive Committee of the Free Zone Consortium has authorized that the Cádiz Free Trade Zone Consortium can receive 5,4 million euros from European Union Brexit Adaptation Reserve Fund for the construction and commissioning of the Bay of Algeciras Tax Precinct.

 

The Cádiz institution has attended by presenting the Campo-Gibraltar site to this aid, which aims to provide financial support to mitigate the adverse effects of the withdrawal of the United Kingdom of the European Union. The granting of this fund will be made with the signing of the Document Establishing the Conditions of Aid (THIS SIDE), which will shortly send the European Funds Directorate and that will allow us to begin with the certification of the expense and the recovery of the investment made.

 

Thus, one of the sections that was valued in this fund was the taking of measures that guarantee the functioning of the customs controls of the European Union, as well as the economic revitalization, both requirements that made the project of the Free Zone for Gibraltar Field met the criteria and was eligible to receive this aid, which has a subsidy rate of 100%. Furthermore, it happens that it must be executed before December 2023, which is also true in the case of the Bonded warehouse.

 

Thus, the 5,4 million euros of aid that the European Union contributes to the financing of the project includes both the work of the perimeter fencing, as well as the facilities and infrastructure that are already carried out in the Tax Precinct, as well as the costs of leasing the land in the years in which the project has been carried out. This means that the Free Trade Zone recovers from FEuropean waves an investment which had been executed with its own resources, which represents a significant income for the institution's accounts.

 

Among the arguments that have weighed for the Bahía de Algeciras Tax Precinct to be able to compete and obtain this aid is that it is located precisely in the only area in the entire European Union, along with Northern Ireland, that has a direct border with one of the territories that leave the European Union with Brexit.

 

The State delegate in the Free Trade Zone, Fran González, has expressed himself very satisfied with the news “which mitigates the investment made for the implementation of our new fiscal space in the Campo de Gibraltar, the Bahía de Algeciras Tax Precinct, in addition to the fact that these 5,4 million euros confirm that we are carrying out good management of the European funds".

 

The Free Trade Zone of Cádiz -hand in hand with the Government of Spain- has completed the processing of this productive space that multiplies the logistics potential of the area around the port of Algeciras, a strategic enclave in international trade and that will add competitiveness and opportunities to investment compared to the Brexit. And it will become an element of economic certainty in the face of so much uncertainty.

 

With 130.000 m2 of surface, access control, special security conditions and an unbeatable location in the municipality of Los Barrios, the venue responds to the needs of the business and industrial fabric of the County -closely linked to port activity-, since it offers them a productive space with important tax and customs advantages for commercial operations.

 

Therefore, the facility meets the repeated demands of the business community and business associations of the Campo de Gibraltar that demanded a logistics space with tax and customs advantages that would give added value to operations around the port of Algeciras. Added to this historical demand was the interest of Zona Franca de Cádiz in contributing to the development of this region, an undisputed first-class logistics focus, with an important industrial fabric made up of large industries and logistics and freight forwarding operators that make it the first industrial hub. from Andalusia.