Madrid expresses its ability to attract companies by launching the Open Market Law

Madrid has increased, since this Saturday, its capacity to attract companies already installed in other regions by not requesting any permit to operate in the Community as long as they already have them in their places of origin.

NewsEditor
NewsEditor
01 October 2022 Saturday 09:32
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Madrid expresses its ability to attract companies by launching the Open Market Law

Madrid has increased, since this Saturday, its capacity to attract companies already installed in other regions by not requesting any permit to operate in the Community as long as they already have them in their places of origin. This is the first region in Spain where any economic operator, from the entire national territory, can establish itself without having to apply for additional licences. "It is a way of making Spain", summarizes the Minister of Economy, Javier Fernández-Lasquetty.

In practice, the entry into force of the new legislation comes to “automatically” eliminate almost 40 administrative procedures on registrations, certifications, authorizations or communications.

This has been advanced by the Madrid Executive in a statement, in which it guarantees that this text reinforces the "economic freedom" of Madrid, in line with the campaign slogan used by the president, Isabel Díaz Ayuso, in the last elections of 2021.

The rule promised by the president of the Community of Madrid, Isabel Díaz Ayuso, seeks to advance in administrative simplification, "eliminating unnecessary barriers and obstacles" that may endanger growth opportunities "in line with the recommendations of the European Commission" , in addition to promoting investment, job creation and economic recovery.

The Community of Madrid calculates that the regional GDP will grow by around 1.6% "in the medium and long term", which translates into a creation of wealth close to 4,000 million euros per year and some 50,000 new jobs.

Finally, from the Madrid Government they assured that, within the scope of their competences, they will promote among the other autonomous communities "the adoption of regulations similar to this Law, in order to guarantee a true market unity".

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