PM tells Japanese investors this is a good time to invest in Spain
Prime Minister Mariano Rajoy has told Japanese investors at a business forum in Tokyo that Spain is a good place to invest because of competitive advantages, level of training of workforce, modern infrastructure and a sound legal framework.
The full story as published on the La Moncloa website is as follows:
“This is a good time to invest in Spain”, says Mariano Rajoy Tokyo (Japan),
Wednesday 02 October 2013
At a Spanish-Japanese business meeting in Tokyo, the President of the Government said that Spain “is a perfect destination for international investors” because of its competitive advantages, the level of training to be found among its human resources, modern infrastructure and sound legal framework.
At the opening ceremony of the business forum entitled “Japan-Spain: global partners for business and investment” , the President of the Government highlighted that the objective of this meeting is “to show the economic and business reality of Spain to Japanese companies and their executives, and thus foster new opportunities for business and mutual collaboration”.
Mariano Rajoy believes that the Spain-Japan Dual Year, which commemorates the 400th anniversary of the start of diplomatic relations between the two countries, is a great opportunity to further develop and strengthen economic relations.
Trade relations between Spain and Japan are growing in strength and have exceeded 5 billion euros per year over the last two years. However, Mariano Rajoy believes this figure does not fully represent the size of “our economies, the third and eighteenth largest in the world, meaning there is still potential for further development”.
From an investment point of view, Spanish companies are increasingly more interested in the Japanese market. Over 40 Spanish companies already have operations in the country in sectors ranging from fashion to automobile components and financial services, said the President of the Government.
In turn, he added, there are more than 145 Japanese companies with operations in Spain that generate more than 26,000 jobs in the country.
Mariano Rajoy believes that the presence of Japanese companies in Spain will continue to increase over the coming years because Spain “not only offers numerous competitive advantages already but is also undergoing a reform process that is enhancing its competitiveness and converting Spain into a perfect destination for international investors”.
The President of the Government went on to add that Spain is fourth in Europe in terms of people with higher university training in science or technology, it has a modern infrastructure and a sound legal framework.
A privileged market
The President of the Government stressed that when an international investor sets up business in Spain, not only is accessing a market of almost 50 million consumers with a high per capita income but is also accessing the EU market, which “is the largest market in the world with over 500 million inhabitants, a single market with free movement of goods, services, capital and people, and a stable and cohesive market”.
Furthermore, the internationalisation of Spanish companies means that Spain today is also a “privileged gateway” to the Mediterranean region, North Africa and Latin America.
For these reasons, Mariano Rajoy emphasised that “Spain is the perfect location for Japanese companies wishing to commercialise their products and services in these geographic regions”.
The President of the Government explained that the “decisive” reforms undertaken by his government, the effort made by the people of Spain and the promising results we are starting to see, allow a somewhat greater degree of optimism today than a few months ago and confirm that “the option chosen by my government was the right one and it is starting to produce results”.
This is already being reflected, said Mariano Rajoy, in the perception from international economic analysts on the Spanish economy and in the ten-year bond differential when compared with Germany, which has fallen from in excess of 600 basis points to below 240 basis points in less than a year.
For these reasons, he stressed that this “is a good time to invest in Spain”.