In the second quarter of 2014, 183 new applications for direct investments to the economy of Andorra were submitted, 163 of them for the total amount of 12.6 million euro were approved, according to the report of Andorran Ministry for Economy. This index exceeded the figure for the first quarter of 2014, when 94 applications were approved for the investment volume of 6.3 million euro. Thus, since the Law “On Foreign Investments” has been adopted in the mid of 2012, the total number of applications for direct investments in the economy of Andorra has made up 883 investment projects with 64.2 million euro volume of investments. “In case of ratification of all applications filed since the year of 2012, the total volume of minimum investments in the Principality would make up 82 million euro,” said the representative of the Ministry for Economy Josep Misse (Josep Maria Missé).
In general, the amount of investments has doubled in comparison to the previous year. The major quantity of applications are submitted by the representatives of Spanish business (50 approved applications), however, the second quarter of 2014 shows a significant intensifying of investment interest into the economy of Andorra from the side French businessmen (40 approved applications compared to 23 in the last year).
Russia and the Netherlands still keep 3rd and 4th position with 7 and 5 applications correspondingly, filed in the second quarter of 2014. According to the preliminary data, the third quarter will demonstrate the growth of the number of applications from Portugal where the relevant Ministries and Departments of the Government of Andorra conducted advertising and PR campaigns.
The second quarter showed a significant growth of the volume of initial investments of each application. On average it made up 20000 euro (it has increased from 76,000 euro to 95,000 euro). The major spheres for investments are commerce and tourism, this quarter demonstrated the growth investments to the sphere of healthcare.
«All investments specified herein, are direct investments into the economy of Andorra, which means that all companies will conduct business on the territory of the Principality, and therefore are subject to 10% profit taxation – stated Josep Misse and added – the report does not include the information on the registration of companies in Andorra that implement their business activity outside the country and tend to 2% profit tax». Desides, the launch of all these investment projects will create 306 new working places for the citizens of the Principality.