The industry accounts for 60% of the increase in foreign investment – Pysn People and Society News

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The economic crisis forced economies such as Catalan and Spanish to rethink its production model and promote a neglected sector in the years preceding the bubble burst: the industry. Governments rushed to rediscover and re-industrialize economies. In the case of Catalonia, the indicators are mixed: one can not say unanimously that the industry is recovering positions on other sectors such as services, contribution to GDP or job creation. Anyway, one of the indicators which itself noticeable improvement in this sector is in foreign investment. Specifically, “the manufacturing industry has been the main component of the growth of foreign investment in Catalonia, and has concentrated 60% of the total increase in all sectors,” according to the Economic report of Catalonia Chamber of commerce presented yesterday.

However, the evolution of foreign investment year after year is very variable, according to Carmen Poveda, responsible for memory and director of economic analysis of the House. Therefore, he explains, it is more accurate to take a longer time period (five years, for example) to determine if the trend is favorable. Thus, according to data of the report, between 2010 and 2015 foreign investors allocated 1,066 million average in the Catalan manufacturing sector, 30% more than the 735 million invested on average between 2004 and 2009. During this period, companies as Volkswagen have announced huge investments in plants of Seat in Martorell; Nestle and Noel Food in Girona; Hartmann and in Mataro.

According Poveda, another indicator pointing the progressive improvement of the industrial sector is that for the first time in history, in the last year the industry has been responsible for the creation of 50 % of employment, a weight that traditionally fell in services.

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the president of the Generalitat, Carles Puigdemont, participated in the closing presentation of this study and used these data to rebut criticism that this week launched the president of the Fomento employer Labour Joaquim Gay Montellà. On Monday, the business leader accused the independence process to stop investment and lead along with the fiscalitat- company relocation. In fact, Gay Montellà said that much of the foreign investment coming is for the real estate sector and not for industrial, which considered that is what needs Catalonia. A statement that the report questions.

Fuga companies

“in Madrid more flight companies in Catalonia” proclaimed yesterday Puigdemont, at the same time called “falsehoods” arguments whoever says otherwise. To demonstrate this, the President put on the table the data of the report of the House (which is based on statistics from INE), according to which by 2015 Catalonia lost 815 corporations, 0, 32% of the Catalan business, while Madrid lost 1,035, 0.5% of the total.

The memory also stands out as one of the key factors for the growth of the Catalan economy’s ability internationalization of companies, which between 2014 and 2015 have grown exports “to a higher than world exports “pace. However, the presentation concluded with prudence. “We are on track but there are still outstanding challenges and growth prospects have been lowered,” said Poveda.

Source Ara.cat