Minutes after Ferrovial’s shareholders voted to move the headquarters to the Netherlands, the Ministry of Economic Affairs issued a dual message. The government acknowledged the shareholders’ decision at the General Assembly, with confirmation from the directing department. Yet it also signaled skepticism about the rationale for listing in the United States, insisting there are no legal, regulatory, or operational barriers to a Spanish company choosing to cross borders for North American markets if it opts to do so, depending on the stock exchange analysis provided by CNMV and BME. This stance keeps the door open for dialogue while maintaining a critical view of the transfer as a financial strategy.
Observers noted that the debate remained unsettled in the days following the vote. On Thursday morning, Finance Minister María Jesús Montero, along with Inclusion and Social Security Minister José Luis Escrivá and the Presidency Minister Félix Bolaños, reiterated their opposition to relocating the corporate domicile. They underscored that any tax advantage claimed by the regime would require a clear economic motive behind the move, a criterion they argue Ferrovial must meet to justify its headquarters shift and any related corporate restructurings. The government’s position reflects a broader preference for strategic decisions to support domestic employment and national economic stability.
Following the vote, the Ministry of Economy stated that it would continue engaging with Spanish companies to defend their interests while supporting growth and expansion. The objective is to help firms access international capital markets from within Spain on favorable terms, fostering investment, job creation, and long-term competitiveness. The government emphasized a constructive approach aimed at attracting investments and ensuring that Spanish businesses can grow and compete globally without unnecessary disruption to their operations or to the domestic economy.
Additionally, the government highlighted strong indicators from Nadia Calviño’s foreign investment portfolio, noting that Spain attracted foreign investment of up to 34,178 million euros in 2022. This data is presented as evidence that Spain remains a competitive country capable of drawing talent and investment, even amid high-profile corporate maneuvers. The overarching narrative points to a country that is actively shaping its economic environment to support innovation, investment readiness, and sustained growth across industries.