Foreign investments in Spain are still rising

14 April 2008

According to the financial statement of the Bank of Spain for the Year 2007 there was an increase in the number of foreign investments in Spain, which last year resulted in a growth of 156%.

Today 33 % of the GDP and 7% of the employment of the country are sustained by foreign capital expenditures, figures that underline the importance of foreign capital for Spain.

In order to increase the number of foreign investments even further the Ministry of Industry has taken measures to attract more foreign capital and has founded the society “Sociedad Estatal para la Promoción y Atraccion de las Inversiones Exteriores, S.A.” (INTERÉS Invest in Spain). According to the Bank of Spain, it currently has a portfolio of 227 new projects with an estimated value of 8.6 billion Euros,

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According to the Bank of Spain, companies all over the world are viewing its economy as secure and stable, and see Spain as a country that guarantees high yield returns and therefore is a strategic centre for their business projects.

The Ministry of Industry is furthermore tying to adjust its approach with the aim of adapting to a new competitive scheme and increasing the attraction of the country for foreign investors. The new program defines two groups of priority sectors, according to three criteria: Their potential for growth within the economy, their potential for creating employment and wealth, and their feasibility of increasing the attraction of Spain for foreign investors.

According to the Ministry the first group unites the sectors with the highest potential for growth, for example industries such as IT and communication technologies, renewable energy, biotechnology, pharmaceuticals and environmental technologies. Included in the second group, would be the following: aeronautics, automotive industry, logistics, food industry, tourism and real estate.

A recent survey, conducted by INTERÉS Invest in Spain and the Business School EASDE, predicted that there will be an increase in foreign investments in Spain during the next financial period. According to the poll 70 % of the surveyed companies expect their investments to increase during this financial year. Additionally 63 % of the participants assured that they will also create new employment this year.

For further information, please contact Philipp von Wolffersdorff :