Asturias hosts all the components a company or entrepreneur needs to build a thriving business. The region enjoys solid legal and citizen security, political stability, and social calm. It features durable industrial spaces, efficient port facilities, a robust scientific and technological ecosystem, and leading educational centers such as the University of Oviedo that actively back entrepreneurship. Although located on the regional periphery of Spain, Asturias serves as a gateway between the Americas and Europe. Communications are continually improving, and in the coming years the region is expanding air links to dozens of destinations, with new High Speed rail connections anticipated to begin linking Asturias to major corridors. Attractiveness for investment is enhanced by more than a hundred multinational presence who, together with strong regional companies, drive investment momentum and create meaningful employment. As a place to live, visit, and work, Asturias offers both a high quality of life and strong business potential. In short, Asturias shines as a gem waiting to be discovered, a sentiment echoed by leaders whose regional operations emphasize the global nature of Asturias’ services. Some local facilities illustrate a thriving small business ecosystem in the area.
A strategy to attract investment was launched during the pandemic. What outcomes has it produced?
Early results have been very encouraging. Implemented in June 2020 as a public-private collaboration, the Attract Investment Strategy aimed to position Asturias as a compelling destination for investors, supporting economic recovery and offsetting pandemic impacts. Since its inception, eleven companies have announced projects in the region, including a major multinational expanding its footprint. A notable new commitment involved a Chinese group establishing a technical office in Gijón. Beyond that, ten MindFacilities Management companies have approved installations, alongside Basic Intelligence Group, TEAM EQ, foreko, Be Eight, Indaer, TSOFT, cialtronic, QuirónSalud, and NuevaRed Global. Together these undertakings represent almost 199 million euros in initial investment and are expected to generate around 700 jobs, largely in ICT, engineering, and healthcare sectors. The outcome reflects strong collaboration among IDEPA, the Chambers of Commerce, the Asturias Business Federation, the European Union, and think tanks aligned with the promotion agenda. Partners in the promotion committee contribute their international networks to attract investment.
And the Amazon project—why does it stand out?
Amazon’s involvement is particularly significant because of the company’s global prominence in e-commerce. The negotiations around its arrival were approached with careful due diligence and pragmatism, addressing a 100 million euro investment that is set to create thousands of jobs in the region. While some criticisms surfaced, the decision to establish a logistics hub in northwest Spain was influenced by the region’s proactive engagement, rapid responses from regional authorities, and the availability of strategically located land suitable for a major logistics facility. The project is expected to boost local activity and employment, and it stands as a source of regional pride, demonstrating that Asturias can attract world-class players and reinforce confidence in the regional economy.
Which sectors hold the most promise for investment in Asturias?
Asturias presents opportunities across numerous sectors. The regional government highlights the circular economy and renewable energy as key strategic avenues, along with the entire industrial value chain. A central focus is green hydrogen as an energy vector for development and as a pivotal factor in decarbonizing industry while revitalizing the regional economy. The region’s water resources, production, transport, and storage infrastructure support these initiatives, with a visible pipeline of potential industrial users and a value chain capable of accommodating ambitious projects. European authorities recognize Asturias as one of the leading regions for renewable hydrogen initiatives, with programs like ReCoDe and HyDeal Spain already under construction, bringing together substantial public-private investment. Projects involve major players such as ArcelorMittal, Enagás, Fertiberia, and DH2 Energy, underscoring the scale and strategic importance of hydrogen in the regional plan.
How is Asturias positioned for 2023 and beyond?
Asturias has demonstrated notable resilience and has recovered from earlier economic shocks, now prepared for a phase of stronger growth. The outlook rests on three pillars. First, investments supported by European recovery and resilience funds, complemented by funds from just transition mechanisms. Second, an active cycle of productive investment where private companies align the region with a digital, sustainable, and decarbonized production model. Third, ongoing improvements to logistics and communications infrastructure, along with expanding industrial land to accommodate growth. The trajectory emphasizes competitiveness, sustainability, and the ability to attract global capital while creating skilled employment across sectors. The region continues to position itself as a dynamic hub for innovation, logistics, and energy transition, inviting investors to participate in a forward-looking development agenda.