>Foreign investment in the Basque Country
>Basque investments abroad
>The Basque Country: assets and special features
>Financial Assistance for Investment
>Investment initiatives in the Basque Country
>Aids to investment. e-delfos

   

Gross foreign investment, deducting the ETVEs, increased by 59.65% in 2006 with respect to the previous year, reaching 303.94 million euros.

This volume represents 3.2% of foreign investment in the Spanish State,  which amounted in total to 9,524 million euros.

The biggest investments in the Basque Country in 2006 originated in Hungary, followed by the Netherlands, United Kingdom, France, Germany and Luxembourg.

By sectors, the main destination for foreign investment was metallurgy, followed by real-estate industry, food and drink industry, wholesale and intermediary trade, construction, machinery and equipment industry.

  

Investment by Autonomous Communities:

Gross Investment Abroad without ETVEs(foreign stock holding companies).
Distribution by Autonomous Communities

 

COMUNITY	2005	2006
ANDALUSIA	301.79	228.17
ARAGON	57.03	90.34
ASTURIAS	8.28	32.55
BALEARIC ISLANDS	205.56	97.37
CANARY ISLES	26.72	40.00
CANTABRIA	1.09	4.48
CASTILLE AND LEÓN	20.71	30.59
CASTILLE -LA MANCHA	18.11	236.84
CATALONIA	2,497.96	2,521.53
COMUNITY OF VALENCIA	216.64	160.86
EXTREMADURA	8.88	3.71
GALICIA	190.33	91.90
MADRID	3,772.50	4,115.80
MURCIA	41.54	93.40
NAVARRE	11.27	136.36
BASQUE COUNTRY	190.38	303.94
LA RIOJA	3.79	0.5
CEUTA AND MELILLA	5.39	8.92
UNALLOCATED	6,190.13	1,326.76
Total	13,768.21	9,524.10

 

INVERSIONES ESPAÑOLAS EN EL EXTERIOR (Amounts in million euros)

Source: Registro de Inversiones Exteriores

N.C.: no calculabLe

 

 

> Foreign investment in the Basque Country

   

 

Foreign investments in Spain: Gross investment discounting ETVEs(foreign stock holding companies). Leading investor countries:

 

> Basque investments abroad

On the other hand, Basque investments abroad in 2006, excluding ETVE's, amounted to 2,455 million euros, 49.73% more than for the previous year, and represented 4.38% of the total investments of the whole of the Spanish State, which totalled 55,933 million euros.

 

 

 

> The Basque Country: assets and special features           

          

 

A long-standing industrial tradition and a chameleon-like ability to adapt are perhaps the Basque economy's two major strengths. But the Basque Country has other assets that are by no means lost on foreign investors. Such assets include a highly-skilled work force, a compact network of outsourcer companies, tax breaks, research centres, an advanced educational system, a strategic location and highly-developed infrastructures, as well as the finest cuisine this side of Paris  and some stunning scenery. Not to mention a firm commitment to avant-garde culture, of which the Guggenheim Museum Bilbao is the latest and perhaps the most influential example.

           

A fair number of major foreign companies are now installed in the Basque Country, which should help to keep investment stable and at a satisfyingly high level. Among the big names settled here are Daimler Chrysler, through its subsidiary Mercedes Benz, American multinationals like General Electric (Gepce), Pepsico (Pepsi-Cola España) and IBM (Ibermática). European capital is represented by firms like Swiss concern Nestlé, the UK-Dutch conglomerate Unilever , Sweden 's Ericsson and Swiss-Swedish group Asea Brown Boveri (ABB).

 

 

 

 

> Financial Assistance for Investment
                                                                                                                                                                                                                                                                                                                                                                                                                                             

 

The Basque Country's programme to encourage industrial development includes aids for investment, tax incentives, support for ventures that lead to employment creation, professional training, the realisation of R&D projects and to establish companies in technological parks.

The Economic Agreement between the Spanish Government and the Basque Country enhances the development of effective measures to support investment.

Amongst others, the most common instruments are the following:
- Grants up to a maximum amount
- Loans with low interest and exceptional payment conditions.
- Lease contracts under advantageous circumstances.

 

    

 

These grants have different sources: European Union, Spanish government, Basque government and the government of each historical territory (Araba, Gipuzkoa and Bizkaia). The number and variety of programs is significant. The Basque development agency, SPRI, offers help assessing which programs offered by the different Basque institutions apply to each case.

The Gauzatu program, offered by the Basque government, offers aids to small and medium-sized firms involved in technology and innovation.

Other programs offer help for R&D activities, (Etortek y Saiotek) the implantation of quality systems, the improvement of energy efficiency and investment in specific industries, such as tourism.

 

 

 

> Investment initiatives in the Basque Country
                                                                                                                        

Some major strategic projects and a series of investment initiatives are currently under way in several areas of the Basque Country. They might be of interest to you, so check them out at the links below:

- BILBAO Ría2000 - Company for the urban renewal of Bilbao and environs

- Alava Development Agency - Arasur Multimodal Platform of Alava

- SPRILUR Industrial land

- Bilbao Exhibition Centre

- Ficoba- International Basque Coast Fair

- Bahía de Bizkaia

- Investments in the Basque Country - Compilation of news items published in the media 2007

- Investments in the Basque Country - Compilation of news items published in the media 2008

  

> Aids to investment. e-delfos
                                                                                                                                                                                                                                                                                                                                                                                                                                              

This service is designed to facilitate access to public aid for Economic Promotion-related initiatives. It provides information on aid schemes and on tax measures affecting these areas..

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