The President of the Government, Pedro Sánchez, has promised to “continue offering certainty and predictability” to multinationals at the closing of the 10th Anniversary Multinational Congress with Spain. In particular, to those who choose Spain as a preferred destination for foreign direct investment.
Sánchez has defended that Spain is “without a doubt” a destination of excellence to be able to invest, to create jobs and to generate wealth and has stressed that Spain continues to inspire confidence and is evidence that all forecasts are endorsed, despite the “doomsayers of disasters.” According to the European Commission, the Spanish economy will grow 2.4% this year, 1.7% next year.
But, although the president sees it as “legitimate” for companies to increase their profits, he has insisted that they also have to “get involved and worry” about the social impact that their economic activity generates on the territory and the country in which they operate.
“For this reason, the commitment we make to stability, social peace, progress and coexistence has, I believe, an obvious economic dimension and we are going to persevere on that path,” highlighted the president.
“The commitment we make to stability, social peace, progress and coexistence has an obvious economic dimension”
Given the uncertainties and “extraordinarily relevant transformations” that the country faces, the president has stressed the importance of public-private collaboration. “Companies need the public sector and the public sector needs companies,” he stressed. “Despite the uncertainty, what I want to tell you is that Spain shows solidity in the macroeconomic field and this is also perceived by the financial markets,” he insisted, after emphasizing that the prospects in the field of foreign investment in the country are ” frankly favorable”.
Main objectives of the executive
The President has set as priorities the improvement of the qualifications of workers, addressing the improvement of incentives for the long-term unemployed, the reduction of inflation and establishing a simple fiscal policy, which allows compliance with the European conc commissions. .
Another of the main points for Sánchez this term is based on completing the reindustrialization process in a green and digital key. “I have to tell you that I am very excited about this entire reindustrialization policy because it means uniting our country in the social field and, above all, in the economic field,” he remarked.
To this end, the recent approval by the European Commission of the Addendum to the Recovery Plan and therefore of European funds, will mean the mobilization of up to 163,000 million euros until 2026. Along with this, Sánchez believes that Spain has to continue consolidating the leadership role in the international European sphere and be an active part in the global conversation on issues that also “relevant as leaders of their multinationals.”
Multinationals ask for legal security and stability.
The president of Multinationals with Spain, Paloma Cabrera, highlighted at the closing of the Congress that multinationals play a “key” role in the construction of a solid and larger business fabric. Specifically, she explained that Spain has more than 14,700 subsidiaries of foreign companies that generate 27.5% of business activity. They are companies that employ 2 million people directly and another 2.6 million indirectly.
“We compete in a global market and in this context it is necessary to have a political, economic and social environment that facilitates business and commercial activity in Spain,” claimed Paloma Cabrera. In this sense, the president of the association has insisted that stability in the political sphere and legal security are “essential” to maintain the confidence of investors in the country. “Our country must aspire to lead the attraction of global investment in the coming years,” she stressed.
To contribute to this end, Cabrera has advanced that the association has developed the ‘Plan Atrae’, which includes a battery of improvement proposals and in which progress in the social, territorial, physical, regulatory and administrative to attract and maintain investments in Spain.
