PRINCE OF TOSSELL TO LAUNCH TRADE AREA
Prince Jonathon, the leader of the Principality of Tossell today announced that he intends to use his powers to control certain taxes within his state to create what he is calling the Tossel International Trade Area (TITA). The area, which will be located some 20km along the coast from the regional capital of Tresta, is designed to bring about foreign investment while also helping create jobs among younger people. The Principality of Tossell has the highest youth unemployment rate out of the four Principalities that make up the nation. The move has the support of High King Isaac II, Prince Jonathon's cousin, who is reported to have said, "It is vital that all Derians who can work do so. It is only through increasing our nations industrial output we'll achieve the aim of nobody being out of work. For young people it is currently hard to get experience of work because people stay in their jobs such a long time. This hopefully will create those chances."
The TITA will see companies who establish themselves there given lower tax rates, import duties being waived and low business rates. Prince Jonathon explained, "The idea will be that we will not charge companies for the land so long as they sign an agreement to employ at least 200 workers and that 80% of these must be recruited locally. Companies may bring materials and semi completed products into the nation and avoid import tax on the condition that at least 65% of the processes needed to complete the product being sold in Derian is carried out within the zone. Finally the more Derians a company employs the larger discount we'll give them on business rates, they employ 200 Derians they get 5%, 300 will see 10% reduction all the way up to a 60% reduction. It is our hope that these measures will bring foreign companies into our nation and give young people greater opportunities to work."
It is expected applications for companies wishing to invest is to open next week.
KING TO LAUNCH "FESTIVAL OF NATIONS"
King Isaac II today has spoken of his hopes for a new annual event he hopes will see tourists flock to the nation. The King has set his council to the task of organising a multi-day and multi-national event celebrating the cultures of different nations. The King explained his idea at a meeting with the Press. "Derian is a beautiful land and our people are warm and welcoming. This alone should be enough to have people see us as a great tourist destination, and open up a new economic oppurtunity for our nation. But I think many see us as an unknown. This festival will plant us firmly in the minds of tourists and hopefully bring a boost to the economy."
It was revealed that invites would be sent out to all nations giving them the oppurtunity to set up a stand or stage to highlight their nation. In addition there will be food and craft markets allowing chefs and companies from across the world to showcase their talents. "This is a two for one kind of deal. We get to showcase our nation to the world, but the world also get to showcase themselves to us. Its a chance for other nations to entice the Derains to go and explore their homeland as tourists." It is also announced that the final day of the festival will see a State Banquet thrown where it is hoped several other nations will send delegates. "Who knows" the King added, "This could be the first steps down the road of early diplomacy among many nations. That'd be a nice thought."
It is likely that plans will be further unveiled in the coming days.