Benito Bergeruelo: A consensual labor reform is well valued by international investors

Twelve years and two economic crises separate the first edition of the Spain Investors Day (SID) and the last, which is celebrated between today and tomorrow an

Benito Bergeruelo: A consensual labor reform is well valued by international investors

Twelve years and two economic crises separate the first edition of the Spain Investors Day (SID) and the last, which is celebrated between today and tomorrow and that will bring together investors from all over the world, large Spanish listed companies and a broad representation of the government. Says Benito Bergeruelo, his president, who "the attractiveness of Spain as an investor destination is greater today that then", that the country companies have won in "internationalization" and in "diversification", but still Spain "needs larger companies "For the new economic stage that opens behind the pandemic.

From there maybe the interest of the appointment that starts this Wednesday and that will elapse, as the coronavirical canons mark, on horseback between the pressure and virtuality. "We believe that today, just as it was 12 years ago when we were in another fierce crisis, it is more important to be more important than ever to explain to investors how we are, what are the plans and how we are going to get out of the crisis," replies Bergeruelo since His office at one of the extremes of the Paseo de la Castellana de Madrid.

It is not the only one to give it that importance. A wide representation of the government, with President Pedro Sánchez at his head, will attend the event to expose the executive plans in full recovery, in the sixth wave of the COVID-19 and with inflation threatening the forecasts. "The government makes a good exercise of transparency, going to this forum, we believe it is very important to appear and explain to investors what their policy is."

So much effort coincides with the recent controversy as a result of the statements of the Minister of Consumer, Alberto Garzón, in The Guardian newspaper about the quality of the meat produced in macrogranjas. "The problem is not in the message, but where you give the message, you can politically consider that the macrogranjas are not good and it is better an agriculture of another type, but the forum to say that is not an international environment. In an international environment , any Spanish politician must defend the products, companies and the economy of Spain and not teach the world our possible defects (if he considers that we have them). The mistake, in that particular case, is where that message was given and not Both in the content of the message itself. A minister of a government of Spain should not speak ill of Spanish products, "says Bergeruelo on the controversy.

International investors have been noticing that legal uncertainty and regulatory uncertainty are two of the greatest risks encountered in Spain when deciding to bet by the country as a destination of their money. "The Spanish Government has taken some measures that do not help our country competes with force, such as the new regulation of SICAVs that has made many of these vehicles to close or leave to Ireland or other countries; the new regulation of socimis ; reduce the incentive to saving pension plans, put a tax that taxs financial transactions ... that are not well-visible political policies and place Spain in a fiscally less attractive position than other countries, "says the President of the SID.

"Now, I do not believe that this has seriously affected investment in Spain and the show is that last year we had important corporate operations, the listed companies carried out important capital extensions that were subscribed on their vast majority by foreign investors , 17 companies left on the stock market that also had a significant participation of foreign investors ... that is, we do not have a major problem as a country with foreign investors, now, could we do things that were more friendly? Surely yes "He reflects Bergeruelo.

Bergrain is also optimistic with the recovery of the economy for the next quarters. "The data is hopeful," he says. More than 200 investors from 13 countries are confirmed for this edition, with special mention of representation from the United Kingdom, France and the US. "Spain is firmly positioned on the radar of large international investors. It is one of the economies of the world that clearly awakens its interest because we are a solid country and because we also have companies that are leaders in some sectors such as construction, tourism or the Energy, "he argues.

He is also aware of the risks posed by inflation or crisis in the supply chain and also indicates the arrival of European funds. "There is a great expectation for European funds to help the Spanish economy develop, but in that topic what is more concerned is the calendar, that is, when funds will come to business tissue and companies, because Spain It goes with a little delay, "he warns.

Updated Date: 11 January 2022, 19:47

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