Palma de Majorca.—At a meeting this week in Palma, regional Finance Minister Josep Ignasi Aguiló (pictured centre) told senior figures of the Balearic Business Association (CAEB) he would introduce the measures - originally discussed in September this year - to kick start the economy in 2012. Aguiló made the commitment at a budget presentation attended by around 50 representatives of key regional business organisations from all sectors of the community - construction, services, agriculture and other primary industries.

CAEB said after the meeting with Aguiló that the sooner the wide-ranging measures to help the economy were implemented, the better.
All business organisation in the region whether afiliated to CAEB or not, a spokesman said, were anxious to participate in what he described as a “revival of fortunes.” CAEB said that a key element of the economic recovery package involved providing legal security for the private sector - giving companies assurances that their investment would not fall foul of government policy and bylaws. Organisations prepared to finance the Balearic public debt would also be protected under such securities, said the Minister. Some of the measures, are deliberately designed to encourage investment in tourist resorts and their connections with their nearest airport, confirmed Aguiló.

The nautical sector is also on the agenda as the regional government views foreign interest in yachting and other water sports in the Islands as an important contribution towards economic recovery, he said. The government wants to see more private interest in the ports of Mahon, Alcudia, Ibiza and La Savina.

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