Page 120 - economic report 2021

June

8 June, the Chamber of Commerce, Industry and Services of Andorra joins Eurochambres, the European
association of chambers of commerce and industry, to promote the internationalisation of businesses and
work together with other similar institutions.
8 June, presentation of the brands Andorra Business, Andorra Recerca + Innovació and Andorra Digital, to
attract businesspeople and investors. These brands are created with the goal of positioning Andorra on three
fundamental pillars – the economic model and its business sector, knowledge and digitalisation.
11 June, the Government and the IMF present the final conclusions of the Article IV mission for 2021, which
the IMF prepared on the Principality.
Approval of Law 15/2021, of 17 June, to create the National Housing Institute.
Approval of Law 17/2021, of 17 June, on further special, urgent measures during the health emergency
caused by the SARS-CoV-2 pandemic. Law 17/2021 regulates temporary suspension of employment contracts,
reduced working hours and support for self-employed people. From 1 July to 31 December 2021, these
measures focus only on a few sectors directly affected by restrictions or impediments to normal activity under
the relevant Government decree.
23 June, approval of an extension until 31 December 2021 of Decree 44/2021, of 17 February 2021, on
temporary, partial easing of the special requirements to access one-off financial aid for involuntary employment.
26 June to 31 July, the Andorra Mountain Music festival is held. The festival was due to be held for the first
time in 2020 but had to be suspended due to the COVID-19 pandemic.
30 June, the Government approves by Decree 214/2021 a new special aid scheme toward rents and mortgage
payments of authorised establishments such as pubs, discotheques, nightclubs or similar and travel agencies
for the month of July.

July

1 July, the mini hydroelectric power station in Aixovall is put into operation (on Ós river).

118 1 July, Naturlàndia becomes Naturland and starts a new stage focussing on altitude-based activities, the
creation of competitive products and boosting outdoor activities.
8 July, approval of the amendment of Law 27/2008, of 20 November, on special taxes, supporting the creation
of the so-called green tax on hydrocarbons.
11 July, the Tour de France arrives in Andorra.
Approval of Law 21/2021, of 15 July, amending Law 17/2018, of 26 July, regulating the Andorran educational
system.
20 July, Standard & Poor’s rating agency confirms Andorra’s rating as BBB/A-2 with a stable outlook.
23 July, Fitch Ratings rating agency confirms Andorra’s rating as BBB+ with a stable outlook.

September
Timeline of the most significant economic developments in 2021
1 September, the Government approves by Decree 271/2021 a new special aid scheme toward rents and
mortgage payments of authorised establishments such as pubs, discotheques, nightclubs or similar and travel
agencies for the month of September.
10 September, publication in the Official Gazette (BOPA) of the amendment to the annex to the Monetary
Agreement between the Principality of Andorra and the European Union, signed in Brussels on 30 June 2011.
22 September, the Government approves Decree 301/2021 repealing Decree 44/2021, of 17 February 2021, on
temporary, partial easing of the special requirements to access one-off financial aid for involuntary employment.
26 September, Crèdit Andorrà closes an agreement to acquire 100% of Vall Banc, owned by the fund J.C
Flowers & Co.
29 September, the Government approves by Decree 304/2021 a new special aid scheme toward rents and
mortgage payments of authorised establishments such as pubs, discotheques, nightclubs or similar.
29 September, the Government approves Decree 323/2021 regulating the return or conversion into a loan of
the pending debt for the first and second special guarantee schemes for companies and businesses during the
health emergency caused by SARS-CoV-2.
30 September, official presentation of the Court of Arbitration of Andorra (TAPA), intended to become an
international benchmark in resolving conflicts out of court. The Bar Association of Andorra (Col·legi d’Advocats)
and the Chamber of Commerce, Industry and Services of Andorra are its promoters and members of the Plenum.