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Law passed to create unity across Spain's regions

Source: Xinhua - Sat 6th Jul 2013
Law passed to create unity across Spain's regions

Yesterday's weekly meeting of the Spanish cabinet saw the passing of a new law to enhance the unity of market rules across all 17 regions, making it easier for Spanish companies to do business in different parts of the country.

The law unifies rules and procedures for Spanish businesses, so that if a company meets the law of a particular region, other regions cannot ask for additional requirements when the company wants to do business in another region.

At the press conference after the cabinet meeting, Deputy PM Soraya Saenz de Santamaria said that the law is a big support to businesses and will help to create jobs.

Minister of Economy Luis de Guindos stated that this rule could increase GDP by 1.5 points, or €1.5 billion per year, improving Spain's competitiveness in the international arena.

De Guindos also said that this rule would benefit small and medium size companies, which are very important for Spain's economic recovery according to the government.

The minister explained that small and medium size companies do not have so many resources as large companies in order to have legal departments which could advise them on how to expand their services in other regions of Spain where there are different rules.