Why does the US want to continue investing in Spain?

Malet, CEO of strategic consulting firm Telam, is the only Spaniard to attend nearly all recent inauguration ceremonies for US presidents. As head of the chamber, his presence has been attentive during visits by delegations to the United States by different Spanish governments. During the ‘Procés’ he was one of the few representatives of the Catalan business and financial world who publicly opposed the independence movement without any ambiguity.

Because of the agenda he manages, his views always deserve attention. Malet reasons: “Spain’s image abroad is that of stability, despite politics.. From a place where it can be produced and close. In addition, in the United States, it is invaluable that Spain does not depend on Russia for energy and is beginning to strengthen itself as the ‘centre’ of new energies, “excessive administrative bureaucracy, unattractive taxation, and the difficulty of facilitating and speeding up visas to attract talent. In a big step that could benefit increased new investment, the new ‘start up’ law for digitization promoted by the Secretary of State, Carmen Artigas.

American companies stand out as multi-product investments, unlike what other countries can make in Spain with large, private, financial or direct investments. Historically, they have been involved in a wide variety of businesses as Spain’s leading investment country in terms of installed capacity. Initially, after the opening of the Spanish economy in the late Franco regime, investment in automobiles ford – then headed Jaime Carvajal, Honorary King Juan Carlos I- and a schoolmate of General Motors. Later, what was once a major American industrial and financial holding company, general electricity, started its investments in many different industrial business areas. as president of Spain Mario ArmeroSon of one of the key figures in the transition to Spain, José Mario ArmeroHe was the head of the Europa Press agency. Another Spaniard from the shadows who also fueled investments and relations with the United States was lawyer Antonio Garrigues, one of the faces of the failed 1986 reform operation led by another Catalan lawyer and former politician. Miquel Roca and Junyent. Large consumer, food, beverage and pharmaceutical companies had already set foot in Spain.

There are 2,900 US companies with direct investments. They provide employment to 228,000 people. Added to these are the financial ones run by US fund managers who invest in the capitals of companies based in Spain, whether or not they are listed on the stock market. Over the last five years (see chart), the US has invested an average of 5,672 million euros per year in direct investment, above France and the UK; this accounts for 17.6% of total foreign investment.

Malet hopes such as decisions made by technology companies Cisco and Intel. Investing specifically in Barcelona for the design and development of semiconductors in what’s been called the chip war to compete with Asian countries – these are only the first steps in what’s to come. The state expects to mobilize up to 12,500m euros thanks to Perte of semiconductors. Add to this the stakes Amazon has announced through its Aragon subsidiary AWS, where it expects to invest 2,500 million over 10 years, both in its logistics business and in the cloud. Google also announced that it has invested 600 million in its cloud in Spain by 2025. American Express, which created 400 jobs over the course of 202 in its central operating system, and Citi, which is immersed in expanding its investment center, are two other examples of bigger bets. More is on the way.