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The agreement sets up a framework for bilateral cooperation between INTERES Invest in Spain and Aragón Exterior including areas such as information, promotion, investor services or training for agents capturing investment

 

INTERES Invest in Spain and the Aragón Government collaborate to attract foreign investment to the region

Madrid, 8 February 2008

 

 The main thrust of the agreement is to attract and consolidate foreign investment in the region.
 The cooperation framework established between the two agencies covers areas such as information, promotion, investor services and training for agents capturing investment in this Autonomous Community
 This is the seventh agreement the Government agency has signed with regional authorities, following those reached in the Autonomous Communities of Galicia, the Canary Islands, Andalusia, Castilla La Mancha, Extremadura and Cantabria

 

INTERES Invest in Spain, the Government agency dedicated to promoting and attracting foreign investment, part of the State Department for Tourism and Trade of the Ministry of Industry, Tourism and Trade and Aragón Exterior have signed a collaboration agreement today to promote Aragón abroad. The goal is to capture and consolidate foreign investment in the region. The ceremony was attended Begoña Cristeto, Chief Executive of INTERES Invest in Spain, and Alberto Larraz, Minister of the Economy, Treasury and Employment of the Government of Aragón.

 

The agreement sets up a framework for bilateral cooperation between INTERES Invest in Spain and Aragón Exterior including areas such as information, promotion, investor services or training for agents capturing investment. The main thrust of the agreement is promoting and attracting investment of interest to the region of Aragón.

 

One of the objectives of the Government agency is to create quick, efficient and fluid communication mechanisms with all local and regional institutions involved in promoting and attracting investments, in order to join forces in pursuit of a common goal: increasing foreign investment in Spain. This aim has already led INTERES Invest in Spain to sign collaboration agreements with regional bodies in Galicia, the Canary Islands, Andalusia, Castilla La Mancha, Extremadura and Cantabria.

IED in Aragón

According to the latest data for the financial year 2006, FDI flows in Aragón amounted to 91.4 million euros. By sector, machinery and electrical equipment manufacturing attracted the highest proportion of FDI with 78%. Machinery and mechanical equipment was in second place with 6.5%, followed by the chemical industry with 4.1%.

 

The agreement signed today establishes a stable framework for collaboration between both agencies to develop areas such as information, training, investor services and promotion of Aragón’s image abroad – as a competitive destination for FDI.

 

As far as information sharing is concerned, INTERES Invest in Spain and Aragón Exterior are to collaborate developing tools for disseminating knowledge and basic and useful documentation for foreign investors. They will both place special emphasis on fostering the exchange of information that enhances knowledge of companies and sectors already set up in the region. INTERES Invest in Spain will therefore make its basic information database available to Aragón Exterior, along with any other information that could be of use when serving the needs of potential investors and those already established in Aragón.

 

Implementing reciprocality

As regards promotion, both signee agencies of the agreement will pursue reciprocality in their respective activities, and will study the most appropriate collaboration formulas to join forces when working to attract investments and to promote the most competitive sectors in the region.

 

Under the auspices of the agreement, INTERES Invest in Spain and Aragón Exterior will collaborate developing investment and fostering reinvestment to provide foreign companies with quality assistance and strategic and operational support appropriate to all eventualities. Both agencies will cooperate equally in training initiatives aimed at improving the skills of public and private players working in professional areas relevant to the capture of this type of investment.

 

INTERES Invest in Spain and Aragón Exterior will also coordinate respective actions abroad to leverage possible synergies and to promote the image of Spain in general, and more specifically that of Aragón, showing them to be competitive, modern and innovative places, which are increasingly internationalized and equipped with the human and technological resources able to handle globalizing markets and economies.

 

INTERES Invest in Spain
INTERES Invest in Spain is the Government agency dedicated to promoting and attracting foreign investment, part of the State Department for Tourism and Trade of the Ministry of Industry, Tourism and Trade. Its mission is to promote, attract and maintain foreign investment in Spain, serving as the reference point for foreign investors and the point of contact for all state, regional and local institutions engaged in promoting and attracting investment.

It focuses on implementing pro-active promotion policy, targeting sectors where Spain holds competitive advantages in the medium and long term. INTERES Invest in Spain also aims to strike strategic alliances with all Institutions that attract and promote Foreign Investment (FDI), with a view to leveraging initiatives and setting up a network to enhance their impact.

 

Aragón Exterior
Aragón Exterior is a public body attached to the Ministry of the Economy, Treasury and Employment of the Regional Government of Aragón. Its mission is to promote Aragón as a business destination and to attract foreign investment projects to the region.

It offers investment projects a one-stop service, guiding foreign investors through the procedures required to establish their business effectively in Aragón. It also provides an overview of the tools available in order to implement an investment project of this nature such as grants, incentives or training agreements.
The Aragón government’s commitment to foreign investors continues after they have set up in the region and, through Aragón Exterior, it runs the INVEXTA program to bolster the success, consolidation and expansion of existing projects in the Autonomous Community.

 

 

For more information: www.interes.org
INTERES Press Office INTERES Communications and Marketing Director
Tel: 91 788 32 00 / 91 788 32 31 Ana García Camarillo
monica.vicente@ketchum.com Tel: 91 503 58 00
silvia.allende@ketchum.com agarcia@interes.org

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