The Economic Development Institute of the Principality of Asturias has received 59 applications for aid from companies that want to invest
What can Asturias do to attract economic activity? Eva Pando, Managing Director of the Economic Development Institute of the Principality of Asturias (IDEPA), outlined the keys to our region’s strategy to remain an attractive destination for both domestic and foreign investment during a debate organised by the Asturian newspaper La Nueva España,
Pando presented some data that gives an idea that, despite the crisis associated with the coronavirus pandemic, there is interest in companies to develop projects in our region. “We have received 59 applications for aid from companies that want to invest,” she said, adding that IDEPA is also working with 22 technology-based companies that have plans for Asturias.
We at IDEPA take care of the business fabric we have, build up its loyalty, and make it easier for them to invest. We apply the same effort to the more than 80 companies with foreign capital present in our region, that were employing 31,856 people in 2018.
Today it is very difficult to attract industrial investment to Europe, according to Pando. In the face of global competition, Asturias stands out with a value proposal that mixes aid, infrastructure, talent, business environment, knowledge, brand as a region, close Administration, and quality of life.
Just ecological transition in Asturias
We look for projects that contribute to a just ecological transition and for which our value proposal as a region is fundamental. For example, advanced manufacturing projects in the field of renewable energy, circular economy, biotechnology, or food technology.
Additive manufacturing is critical to the future of the global industry. We have great capacities in Asturias to attract this type of project, as shown by the success story of Aciturri, which was taken over by IDEPA and IDONIAL Technology Center to set up here and now manufactures parts for the new Airbus plane.
Success stories of foreign investment in Asturias
Cases such as thyssenkrupp and Arcelor Mittal show that Asturias has the conditions for the development of powerful industrial and technological projects. And other success stories such as Capgemini, DXC, Merkle, or Merkator prove that we can diversify investment.
And now we must attract talent. Asturias has the conditions for the setting-up or installation of technology-based companies that can collaborate on industrial projects in the future. Our #SafeWorkParadise campaign seeks to attract that talent.
European aid, transition funds and talent to return to Asturias
The debate What can Asturias do to attract economic activity? counted with the participation of Belarmino Feito, president of the Asturian Federation of Entrepreneurs (FADE), Ignacio Huici, from EIT InnoEnergy, and Cándido Pérez, from KPMG Spain.
In the opinion of Ignacio Huici, “there is a great opportunity now because of European aid, because of the transition funds, and because of what we have in Asturias for talent to return. We need to work for being the Asturias Entrepreneurial Natural Paradise”.
And according to Cándido Pérez, to attract investment, Spanish regions need to bring in more skills than just their industrial assets. Projects submitted under the European recovery plan must meet criteria for digitization, innovation, and ecological transition.