Press Release / Government / Spanish Business Leaders Visit Singapore and Japan as Part of their World Tour

Spanish Business Leaders Visit Singapore and Japan as Part of their World Tour

Madrid, Spain, May 20, 2013 - The Council for Competitiveness is stopping off in Singapore and Tokyo to set out the great business opportunities that the Spanish economy offers.

The Business Council for Competitiveness (CEC) has presented its report “Spain, country of opportunities” in Singapore and Tokyo (Japan). This marks the latest stage in the world tour that business representatives from 16 large Spanish companies and leading figures from the Spanish economy have been undertaking since April around 17 cities in Europe, the Americas and Asia, with the aim of attracting investment to Spain.

In Singapore, the businesspeople, headed by the former Secretary of State for the Economy, Professor Alfredo Pastor, and banker Juan Rodríguez Inciarte, a member of the executive board of the Santander group, told almost 50 executives from large public and private companies about the current situation of the Spanish economy and its future outlook.

Rodríguez Inciarte stressed that the Spanish economy is progressing along the path to recovery following the battery of cuts put in place by the government. “Our balance of payments is positive for the first time in 20 years”, he said, encouraging Singaporean companies to useSpain as a platform for entering or expanding in Latin American markets. Pastor, meanwhile, added that “Spain’s GDP will also be showing positive growth by the end of this year or the start of the next”.

The business leaders also assured Japanese investors in Tokyo that Spain can serve as a great springboard for companies wanting to enter Latin America, “because it’s easier to arrive with large Spanish companies, which can offer everything from financing to knowledge”, said Fernando Casado, director of the CEC. The Spanish delegation also stressed that Spain offers optimal conditions for vehicle manufacturing, making it particularly attractive to Japanese firms such as Honda, Toyota and Nissan.

The Spanish representatives also claimed that “Spain has unique conditions that make it attractive for foreign investment”, ranging from its plentiful and skilled labour force to financial products that generally offer favourable yields, such as its government bonds, for example.

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