For the fourth year running, IPEX has hosted the BAROMETER OF BUSINESS ENVIRONMENT AND FOREIGN INVESTMENT IN SPAIN AND CASTILLA-LA MANCHA within the FORUM OF FOREIGN CAPITAL COMPANIES, which was held in Cabanillas del Campo (Guadalajara) on 8 May.
The number of companies taking part in the barometer is increasing year after year, highlighting corporate interest in this event. In addition, this provides us with very valuable information to improve support to companies, as we aim to make it easier for them to reinvest and to encourage them to act as ideal ambassadors for Castilla-La Mancha to attract and support new foreign capital projects.
It is worth noting that most respondents belong to large European multinationals, although there are also American, Japanese and Mexican companies. The main investors in Castilla-La Mancha are European, which is in line with the influx of foreign investment to the whole of Spain.
We can consider the business environment to be favourable, with most respondents showing positive development and a moderately optimistic outlook.
Although they show no intention of hiring new employees, having a moderate outlook for the next year, companies do have plans for reinvestment in the region and the vast majority have investments planned or underway to increase their productive capacity or modernise their facilities.
The areas companies value the most include quality of life, safety and real estate costs. They mention access to suppliers, digitisation and technology as aspects needing improvement.
As regards human resources, several aspects have been assessed very positively, especially the ease of movement, technical knowledge and ongoing training, although language training has been repeatedly identified as an area needing improvement.
Lastly, the following are the main areas we need to work on to improve the business environment in Castilla-La Mancha: Reduction of the administrative burden, greater investment incentives and work flexibility.
The main conclusions of the Fourth Barometer
- This is a good time for foreign companies in Castilla-La Mancha, as they show favourable development and a positive outlook.
- Companies are growing in our region and have reinvestment plans to increase competitiveness, investing in increasing their production capacity and modernising their facilities.
- European companies are the main investors in our region, although the presence of American, Asian and Latin American companies is also on the rise.
- The business environment in Castilla-La Mancha is viewed in a positive light
- Human capital does not tend to be a cause of concern for companies. However, there are certain aspects that need improvement, especially knowledge of foreign languages.
- Companies have good relations with the Regional Government and are aware of the support programmes and incentives on offer. Nevertheless, we should ensure they make use of the available resources when needed.