Galicia attracts 132% more foreign investment in 2023

Eighth autonomous community with the highest recruitment

The acting Minister of Economy, Industry and Innovation, María Jesús Lorenzana, held a meeting with the Economic Forum of Galicia.

---

The Galician government's economic policy is proving key to attracting foreign investment, as highlighted today by the acting Minister of Economy, Industry and Innovation, María Jesús Lorenzana , at a meeting with the Galician Economic Forum.

 

In 2023, Galicia ranked as the eighth autonomous community in terms of foreign investment, registering a total of €416,3 million, a 132% increase over the previous year. This remarkable growth places Galicia in a prominent position nationally, rising from 0,5% of the national total in 2022 to 1,5% currently.

 

Lorenzana attributed this success to the "positive climate" that the Galician government is trying to create for business investment. In this regard, she highlighted the strong commitment to reducing bureaucracy, accelerating industrial projects, and providing support to businesses through the Galician Economic Office . "The idea is clear: complete ease," the regional minister emphasized.

 

In 2023, Galicia was the eighth autonomous community that registered the most foreign investment, 416,3 million, 132 percent more than the previous year.

 

Strategic plans for six industrial sectors

 

The Galician government (Xunta) is developing master plans for six strategic industrial sectors: metalworking, automotive, shipbuilding, forestry and timber, ICT, and logistics. Three of these are already in the consultation phase (shipbuilding, automotive, and ICT). These plans, along with the industrial map of Galicia, are considered essential for, for example, "balancing supply and demand for industrial land."

 

Adequate electrical transmission network

Lorenzana also stressed the need for an adequate electricity transmission network for Galicia's industrial development. "We're late," he lamented, because the Ministry for Ecological Transition failed to identify the consumption points of new industries interested in establishing themselves in the region.