The Xunta will approve this Wednesday a line of loans for 97 million for 3,000 SMEs

The Council of the Xunta will approve at its meeting on Wednesday a line of loans with 97 million euros for 3,000 small and medium, which will be awarded by the Galician Institute for Economic Promotion (Igape) with funding from the European Investment Bank- Walkfit Platinum-reviews.

This was announced Monday by the president of the Xunta, Alberto Núñez Feijóo, at the close of the XVII General Assembly of the Galician Association of Family Business, where he stressed that this line of loans will involve mobilizing more than 425 million euros.

Feijóo has also advanced that the Consello on Wednesday will expand the line of loans to finance investments in the field of technological renovation in the industry and to provide money for “companies that have needs for internationalization projects”.

In his speech, the head of the regional government recalled that the Xunta is expected to revise up the growth figures of the Gross Domestic Product (GDP) Galician for this year, currently set at an advance of 2.4%.

As an example for this, Feijóo has put the latest data published this Monday by the National Institute of Statistics (INE) to increase the billing of services and industry, as well as industrial orders.



He also referred to the draft law on industrial implementation in which the Galician Government works, so that it foresees that before the end of the current period of sessions, “that is, before the summer”, this text enters the Parliament.

In this regard, Feijóo points out that this law will have the “objective” of “eliminating obstacles” so that companies can be installed in Galicia. Here, he stressed that work will be done on the reduction of the tax burden, reduction of administrative procedures, as well as the impulse for access to industrial land.

On this point, has reiterated the proposal of the Xunta to municipalities to reduce taxes to attract companies in exchange for counterbalancing.

Next, the head of the regional government has indicated that just as the counsellers can recognize errors, “nothing happens to ask the municipalities, just as there are other municipalities in neighboring countries that are aggressive fiscal policy to capture investments, the Galician town councils can also eliminate or rebate to 99% a lot of municipal taxes “.

As an example of taxes that can reduce the Feijóo municipalities has put “the IBI, the IAE, the ICIO and may also decrease the time of licensing of opening licenses and work licenses.” To which he adds “discounts on industrial land”.

A law that will seek that Xunta “and other administrations do their homework.” “It is a commitment of all,” the leader of the Galician Government has warned.

In this line, has valued that in the year and a half, between 2015 and 2016, in Galicia 800,000 square meters of industrial land was sold, which “is more” than between 2009 and 2014. Along with this, it emphasizes that the transactions in the Galician rural environment in 2016 rose 18% after the policy of “zero taxes”.

Previously, it has drawn attention to the fact that the Xunta granted since 2009 about 3,400 guarantees to companies -with an average of 55,000 euros each-, more than “in the whole history” of the Community until then.



This Monday the leader of Grupo Nogar, Víctor Nogueira, has been elected as the new president of the Galician Association of Family Business, replacing Emilio Pérez Nieto.

During his speech, the president of Grupo Nogar has said that he expects to “match” the bar left by Pérez Nieto at the head of this association while thanking the support received.

In this way, Víctor Nogueira points out that the mistakes he may make will never be due to “lack of constancy or interest”. After that, he referred to the “optimistic” data of growth, where he considers that “if the family business grows, surely Galicia too”.

Facing future challenges, Nogueira has focused on the need for family businesses to “gain muscle.” For this, before the president of the Xunta, he has asked for measures such as regulatory simplifications or a competitive fiscal framework.

On the other hand, Feijóo has highlighted the importance of the family business in Galicia, which accounts for 92% of the companies and 86% of the employment that is generated.

In addition, Núñez Feijóo has praised the work of Pérez Nieto during his time at the Galician Association of Family Business as an “excellent” president, while acknowledging Víctor Nogueira’s trajectory as an entrepreneur “for a very long time”.

To this assembly have come, among others, the high commissioner for the Spain Brand, Carlos Espinosa; the president of the Institute of Family Business, Ignacio Osborne, and the vice president of Albania, Juan Carlos Escotet.



On the doorstep of the Hostal dos Reis Catolicos was a group of workers from 112 – separated from the entrance by several policemen – who are on strike to protest the transfer of the headquarters from Santiago to A Estrada (Pontevedra).

Workers have begun to shout on several occasions ‘Feijóo escoita or 112 is in loita’ after getting off the official car the president of the Xunta on arrival at the event and before being received at the entrance of the Parador by various attendees to the assembly.

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