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At the Congress of Multinationals for Brand Spain

Pedro Sánchez announces the first call for 500 million euros for the digital transformation of SMEs and the self-employed plan

Wednesday 24 November 2021

During his speech at the opening of the Eighth Annual Congress of Multinationals for Brand Spain, Sánchez explained that "soon" the first call for the Digital Kit will be opened, with 500 million euros and aimed at companies with between 10 and 49 workers.

Foto: Pool Moncloa/Fernando CalvoThe programme, which has an overall budget of three billion euros financed with funds from the Recovery, Transformation and Resilience Plan, aims to improve the digital transformation of one million SMEs and the self-employed, through a bond "that allows them to finance a set of services available on the market from a digital point of view", the head of the Executive detailed.

In addition, Pedro Sánchez said that it is planned to continue to open new calls for the Digital Kit programme, aimed at businesses of other sizes.

With executives from the main multinationals, the President of the Government of Spain highlighted the challenge and the opportunity that the Recovery Plan represents for Spain, while defending the importance of involving companies in the transformations that the country needs. In particular, he said that "on this path it is clear that we cannot leave SMEs behind, because they represent the bulk of employment and also of the business fabric".

Spain, a preferred destination for foreign investment

"We have no time to lose", insisted Pedro Sánchez, pointing out that more than 200 calls for funds have already been published at state level, so that by the end of October the General State Administration had authorised two thirds of the more than 24 billion euros of the Recovery Plan included in the General Budget for 2021. Of this, he said, almost half is already committed.

Foto: Pool Moncloa/Fernando CalvoAt an event attended by the Minister for Industry, Trade and Tourism, Reyes Maroto, Sánchez pointed out that Spain is home to more than 10,600 subsidiaries of multinationals, which employ 1.7 million people and account for 38.4% of business spending on R&D in Spain. In this regard, the President of the Government of Spain highlighted that foreign direct investment in our country grew by 52% in 2020, in the midst of the pandemic, compared to the 71% fall in the European Union as a whole, which proves the confidence in the Spanish economy.

The head of the Executive also took the opportunity to assure that Spain is a preferential investment destination due to "differential values" such as the solid and fair economic recovery, experienced thanks to the vaccination process and the public policies deployed in the face of the pandemic; the Recovery, Transformation and Resilience Plan, and the commitment to the country's talent and human capital.

Unprecedented modernisation

During his speech, Sánchez stated that, over the next three years, the economy will undergo "unprecedented modernisation". "From the evidence that we are a privileged destination for foreign investment, I would like to reiterate the willingness of my Executive to count on large multinational companies in this historic process, both for Spain and for Europe", he concluded.

Non official translation