The Government takes its chest out of its first year to convince investors and the King highlights the role of Spanish companies

Minister Jose Luis Escriva has defended the pension reform and the approval of the Minimum Living Income, while Minister Reyes Maroto has highlighted the modernization plan of the tourism sector


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The Minister of Inclusion, Social Security and Migration, Jose Luis Escriva, and the Minister of Industry, Tourism and Trade, Reyes Maroto, have taken advantage of the inauguration of the economic forum Spain Investors Day (SID) to take stock of his first year in government and try to convince international investors of the convenience of betting on Spain despite being one of the countries most affected by the coronavirus crisis.

Both ministers, as well as the rest of the members of the Executive who will participate in the event between now and tomorrow, have taken the appointment as a key examination before the markets. The fall in the Spanish economy, one of the largest among the major economies, and the uncertainty generated by some of the measures promoted by the Government have caused investors to be suspicious. For this reason, the Government faces this meeting as an opportunity to present its plans for the recovery and provide an image of clarity and transparency that convinces foreign capital.

In this context is framed the intervention of Josà © Luis Escrivá, who has highlighted the changes promoted in the pension system, especially with regard to collective pension plans and retirement reform; changes in the labor market, “negotiating with unions and employers”; the “unanimous” support for the Minimum Vital Income and the approval of the General State Budgets for 2021.

The minister has also guaranteed “surgical” protection for the coming months now that the “light at the end of the tunnel” of the Covid pandemic with the vaccine is seen. These days the Government negotiates with employers and unions a new extension until May 31, Extraordinary ERTEs linked to the effects of the pandemic, which expire on January 31 and Escrivá has made progress in adjusting this model to incorporate it into the labor market in a structural way, so it will be part of the reforms that will accompany the recovery and resilience plan that the Government will refer to Brussels.

In addition, the Minister has been “convinced” that the combination of efficient policies and investments and structural reforms will boost growth in the short term and achieve a “productive, inclusive and resilient” economy in the medium term.

The person in charge of Industry, Tourism and Commerce, for her part, has assured that “there are still tough months”, but has been optimistic because “With the arrival of vaccines we are at the beginning of the end.”

With regard to its work areas, Maroto has assured that in terms of industry, the Government’s priority is “to increase its weight in our economy with the conviction that it constitutes a key element for the improvement of our production model and the job creation “.

For this reason, he explained that they are working on the elaboration of the Industrial Policy Strategy 2030, which constitutes the roadmap to reinforce the weight of the industry in our economy by promoting the double green and digital transition.

Regarding trade, he remarked that he is going to continue supporting local trade, and in relation to tourism, he assured that the modernization and competitiveness Plan of the sector will be launched, which has as a priority to maintain the leadership of Spain. a in tourism competitiveness while helping to reactivate the sector and modernize the entire tourism value chain. “We must take advantage of the crisis caused by the pandemic as an opportunity to accelerate the transformation of the tourism model, incorporating digitization and sustainability in its triple dimension with levers: environmental, socioeconomic and territorial”, he assured.

King’s support

After the intervention of both ministers, the King Felipe VI he has taken the floor and his speech has also focused on highlighting the strengths of Spanish companies and the suitability of Spain as an investment destination. The objective, once again, is to convince the thousands of investors that these days they will approach the productive fabric of the country in search of opportunities to bring their money.

“Even under the current circumstances, the highly developed Spanish business sector continues to act with great strength and dynamism. There is a large number of first-line Spanish companies established throughout the world, and with international recognition in many industries: from infrastructure and renewable energy to medicine, biotechnology and pharmaceuticals, as well as the automobile industry, fashion, tourism and culture, financial services or software and communications. Spanish companies have the necessary experience and capacity to become partners in all kinds of international projects around the world “, stressed the monarch.

In addition, the King has highlighted that “Spain offers foreign investors privileged access to third markets linked to our economy and within the reach of our corporations that may well be of special interest. In fact, still there is great potential here to serve as a platform for international business operations in third countries. ”

Almeida and Madrid

This Wednesday’s session began with the intervention of the mayor of Madrid, Josà © Luis MartÃnez Almeida, which as such has highlighted the attractiveness of the Spanish capital as a destination for international investors. Almeida also highlighted the effort being made by the emergency services and residents of the city in the middle of the pandemic and in the middle of the worst snowstorm in decades.

The capital is experiencing “difficult times” due to “the worst snowstorm and cold wave in decades” that has taken place “in the middle of the worst global pandemic in a century”. “Our emergency services are working hard since last Friday, helping citizens and removing snow, ice and tree limbs from our streets. And at the same time, our healthcare professionals work tirelessly every day in our hospitals to fight the pandemic. They are all doing the best they can, “he said.

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