“It’s Time to Invest in Spain”, says Prince of Asturias
January 17th, 2013
Prince Felipe of Asturias said on Tuesday that it’s time to invest in Spain, because it is heading towards the exit from the crisis. During the inauguration of Spain Investors Day the Prince said that, although the changes have not yet been completed, the reforms are paying off because the financial sector is making a “huge effort” to go down the right path, and the public sector is also striving to be more efficient.
This is the third edition of this event which, on this occasion, brought together 200 investors, with executives from companies which make up 70% of the Spanish companies listed on the Ibex-35 (Spain’s principal Stock Exchange). According to the organisers, the objectives of this year continue to be “attracting foreign investment to Spain, creating channels of contact between Spanish companies and global investors and encouraging investment in the Spanish stock market.”
The Prince of Asturias said that although the “difficulties” and the “complicated” time the Spanish economy is going through cannot be ignored, and acknowledged that “much remains to be done”, he said that Spain is now an “attractive” destination for investment. In this connection, he highlighted the strength of the human capital of the Spanish as one reason for the success of enterprises, as well as infrastructures, renewable energies and telecommunications being developed in Spain, which place the country in the lead of these fields.
The Secretary of State for Trade, Jaime García-Legaz, said that “sooner rather than later” the Spanish economy will return to growth and get out of the crisis, thanks to the benefits resulting from the reforms being carried out. He also stressed that, according to the forecasts of national and international economic organisations, in 2014 the Spanish economy will start to grow and see the fruits of their efforts.
ABC News reported that García-Legaz then went on to praise the increase in exports as signs of recovery in the Spanish economy. He also highlighted the efforts that are being undertaken to reduce the deficit, the reforms of the financial system, the changes in trade and in the labour market, which will allow the recovery of competitiveness in the Spanish economy.
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