Muy buenos días a todos y bienvenidos. Un saludo especial a quienes nos visitan de fuera de España para participar en este foro económico, el SID, tan relevante para conectar empresas españolas con inversores de todo el mundo. Es un verdadero placer volver a acompañaros en esta XV edición, como hice en otras ya hace algunos años. Permitidme ahora que continúe en inglés.
Good morning,
As Chair of the Honorary Committee of SID, I would like to welcome you all, and especially those of you who have travelled from outside Spain.
I have known Spain Investors Day well almost since it was first launched1. It emerged in a very difficult period, in 2010, when the painful aftermath of the financial crisis of 2008 was still present and the level of confidence was accordingly running low. At that time, the initiative came timely and was effective and successful in demonstrating the world that despite the impact of the crisis on Spain, our country still had resilient, reliable and competitive businesses.
This forum has taken place every year since then, as regular as clockwork, under global circumstances that have varied not only in complexity but also in terms of conflict. Over the course of these years, pivotal events have occurred, such as Brexit, the Covid-19 pandemic, the Russian war of agression against Ukraine, the supply chain shock of 2021 and the inflation crisis of 2023; or the severe aggravation of the crisis ─and open hostilities─ in different fronts of the Middle East, to mention the most relevant. This widespread instability poses severe risks for the world economy. The global context we face has brought with it a significant slowdown in globalization2 and a growing wave of protectionism, creating new challenges and uncertainty for us all.
That is why Spain Investors Day is just as vital today as it was 15 years ago. Over those years and to this very day, Spain has held its course in clearly supporting economic internationalization, multilateralism and international cooperation as key components of the global economic system.
Spain is an outstanding example of a country that has remained true to its spirit of openness in tumultuous times. Exports of Spanish companies are at record levels, for both goods and services; and, clearly, they are competitive at the global level. In fact, different Spanish companies are leaders in a good number of markets and sectors, including the most advanced and productive ones, or with greatest value added.
To mention just two examples:
"...Spain is an outstanding example of a country that has remained true to its spirit of openness in tumultuous times. Exports of Spanish companies are at record levels, for both goods and services; and, clearly, they are competitive at the global level. In fact, different Spanish companies are leaders in a good number of markets and sectors, including the most advanced and productive ones, or with greatest value added..."
Spain is a global frontrunner in renewable energy. In 2024, the country was the 1st large European economy to generate more than 50% of its electricity using renewable sources.
Spain is also a frontrunner in fibre optic coverage, with exceptional communications infrastructure. Therefore, our country has all the means at its disposal to be at the forefront of sectors that are the most intensive in technology and innovation and can contribute more to sustainable development.
This Spanish economic openness is not only represented by the expansion abroad of so many businesses, large companies and also SMEs, but also by how our internal market attracts foreign investment, making Spain one of the largest recipients of foreign investment in the world. At present, there are more than 18.000 Spanish companies with foreign capital in our country and their number is growing rapidly.
In just 10 years, the stock of inward FDI has grown by around 82%. Foreign businesses and investors like you have made a critical contribution over these past decades to the transformation of the Spanish economy, making it more open, competitive and innovative; in short, making it more international. It just shows that we more than welcome International investors here in Spain.
Ladies and gentlemen,
A country´s potential to attract foreign businesses and investments not only depends on the size of its domestic market. It also increasingly depends on both its capacity to convey its position as a solid, stable and reliable platform for international investments at the global level, and its ability to integrate into the complex international production and trade networks in which multinationals operate.
Spain’s prime geostrategic position makes it a perfect gateway to the European market for foreign businesses and investors. As you know well, our country serves a real junction between continents, which also facilitates access to non-EU markets, in the Mediterranean, North Africa, the Middle East and above all Latin America and the Caribbean.
Thus, Spain remains convinced that openness to the wider world generates wealth and prosperity for Spanish businesses and Spanish society. The evidence is hard to dispute, hence our strong and broad support for internationalization. We are committed to this principle as a country: our institutions, our business community, our entire civil society, and our citizens.
Spain Investors Day exemplifies the spirit of international endeavour and openness found in our country, in our businesses and in Spanish society as a whole. I hope that these two days of the forum are productive for all of you3, and may result in new opportunities to strengthen ties and to pursue your goals.
I hereby declare this XVth edition of the SID officially open.
Thank you very much and wish you all a great year.