Foreign multinationals ask Sánchez for economic and regulatory stability to attract investment

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Foreign multinationals established in Spain yesterday asked the Prime Minister, Pedro Sánchez, for a stable macroeconomic policy that is predictable and reduces the regulation that affects the work of companies, with the aim of attracting more foreign investment.

The Multinacionales con España (Multinationals with Spain) association, which brings together around 60 large foreign companies operating in the country, presented the President of the Government, Pedro Sánchez, with a report on foreign investment in Spain and its future prospects. Sánchez closed the annual congress of the organisation, which is now in its tenth year.

The association brings together, among others, companies of the importance of Amazon, Bayer, British Telecom, Carrefour, Deloitte, EY, Google, Heineken, HSBC, IBM, Ikea, Leroy Merlin, L’Oreal, Michelin, Siemens and Thales.

In the document, to which the Expansión newspaper has had access, the large foreign companies ask the “new Government” to guarantee “macroeconomic stability, predictability and regulatory simplification that affects not only the regulations on foreign direct investment, but everything related to the operations of multinational companies in Spain”.
Compliance with these conditions, in the absence of “external circumstances” that could alter this macroeconomic stability, is “a necessary condition” for foreign investment in Spain to increase.
Secondly, the businessmen consider it “essential” that, in the application of European funds, “the mechanisms for controlling investments should be agile and transparent”.

The multinationals consider that “it is equally essential to draw up a plan to attract international investment to Spain until 2030”. The aim of this programme to attract international investment would be to achieve an average annual investment of €42,000 million, double the €20,584 million recorded in the decade between 2013 and 2022.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.