Canary Islands Internationalization and Economic Growth Initiative

Overview

The Canary Islands government has officially published a new collaboration agreement involving its Ministry of Economy, PROEXCA (the regional economic promotion agency), and the European University of Canary Islands.

This pact aims to support the internationalization of local businesses by funding up to 60 scholarships for master's programs in international business during 2025/2026, co-financed by the European Social Fund Plus (FSE+). The initiative is part of a broader strategy to:

• Boost exports
• Attract foreign investment
• Modernize regional companies

This aligns with the government's goal of making the islands a competitive platform in global markets.

Roles and Responsibilities

The agreement details the roles of each party:

• The government will:
  • Oversee the process
  • Fund the scholarships
  • Ensure compliance
• PROEXCA will:
  • Act as a mediator and implementer
  • Manage the distribution of funds
  • Monitor student progress
• The university will:
  • Handle student admissions
  • Deliver the courses
  • Issue academic certificates

Objectives and Impact

This project aims to:

• Equip young Canary Islanders with advanced skills in international trade
• Strengthen local economic resilience and growth

Significance

With increased education and international exposure, local companies can better compete globally.

The scholarships will help nurture a skilled workforce ready to navigate international markets, attract investments, and promote sustainable economic expansion in the islands.

This is a pivotal step in realizing the government’s vision of a globally connected Canary Islands economy.