You are in:

"Invest in Cities" meeting

"Invest in Cities is an opportunity to attract investment to cities and contribute to socio-economic revival", says Reyes Maroto

Tuesday 28 July 2020

Reyes Maroto stated that "Spain is an open and competitive economy, both for exports and to attract investment. We have a great opportunity under the European Recovery Plan to convert Spain into a platform for investment and the development of digitalisation technologies and the inescapable ecological transformation, which will be the drivers of the exit from this very serious economic crisis. Our country has the necessary competitive edge to achieve this".

Along this line, she mentioned the recent presentation of the "Digital Spain 2025" Plan, which seeks to boost the digital transformation process of the country, in line with the European Union strategy, for the next five years. The strategic cornerstones of this Agenda are the promotion of the removal of the digital gap between rural and urban areas and support for micro-SMEs and start-ups.

The minister highlighted the importance of collaboration between public authorities and the public and private sectors to facilitate the introduction of new companies and strengthen the business fabric, better structure regions and foster economic development and job creation. "We are aware that investors and business owners need certainty, transparency and a stable regulatory framework to plan their long-term investments", he said.

By way of instruments to support investment to further enhance territorial cohesion, she mentioned that the Council of Minister has approved a new round of proposals under the Programme to Support Productive Industrial Investment, with a provision of 341 million euros, with the aim of re-launching production and managing to reposition industrial companies in the market, and recalled other ministerial instruments such as the lines of ENISA financing, the tourism sustainability plans at destination and the Network of Smart Tourist Destinations.

She also referred to "Invest in Spain", attached to the Institute for Foreign Trade (Spanish acronym: ICEX), which seeks to promote direct foreign investment in Spain, offering advice and support for industrial and financial investors, acting as a meeting point for Central Government, the regional governments and foreign investors with potential local partners. "In 2019, it attracted 62 new projects, with an estimated investment of 3.15 billion euros and almost 3,800 jobs, a major increase on the results obtained in 2018. These good results confirm that Spain has a very favourable business climate to attract foreign investment", she explained.

Non official translation