News Lehendakaritza

“Invest in the Basque Country” is born

2011 March 24

A new tool designed to attract foreign investment to the Basque Country

National and regional governments all over the world are making great efforts to attract foreign direct investment in order to modernise and diversify their production models. With this in mind, the Basque Government has given a new boost to internationalisation by creating a new initiative known as "Invest in the Basque Country". This new tool will be used to attract foreign capital to the Basque Country and will be managed by SPRI and presided over by the Lehendakari, Patxi López, and the Minister for Industry, Innovation, Trade and Tourism, Bernabé Unda.

The Lehendakari examined the latest data on foreign investment in the Basque Country and noted that, during the first half of 2010, this type of investment grew by "20% in relation to the same period during the previous year". However, he went on to stress that "we have to make an effort to better organise our capture of foreign investment; therefore, we have created Invest in the Basque Country ..... to attract foreign direct investment and talent to the Basque Country". The Lehendakari also said that Invest in the Basque Country will serve to create "a continuous, high-quality relationship with the foreign companies present in the Basque Country, which today number more than 400".

The Guggenheim Museum in Bilbao was the setting for the official presentation of Invest in the Basque Country, a new initiative created by the Ministry of Industry, Innovation, Trade and Tourism to attract foreign investment.

As an example of the benefits this new tool has already brought, the Lehendakari stated that Invest in the Basque Country has succeeded in convincing a Mexican biotechnology company to "start the process of establishing itself at the Miñano technology park, a centre for business and innovation in Álava". According to the Lehendakari, this company "is already actively collaborating with Basque centres of science and technology". He went on to declare that the company "plans to create 30 jobs over the next three years".

The Lehendakari also stated that "we want to assume a leadership role and support the Basque Country's integration into the global economy", and assured those present that "combining our efforts and looking for partners for our strategic projects is the best way to improve our quality of life, generate wealth and employment, strengthen and modernise our economy and, above all, make a firm commitment to the future of our society".


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Politicians attending the event