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Investment and Business Opportunities for Chinese Investors in Spain March 2014 Investment and Business Opportunities for Chinese Investors in Spain “La.

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Presentation on theme: "Investment and Business Opportunities for Chinese Investors in Spain March 2014 Investment and Business Opportunities for Chinese Investors in Spain “La."— Presentation transcript:

1 Investment and Business Opportunities for Chinese Investors in Spain March 2014 Investment and Business Opportunities for Chinese Investors in Spain “La Nueva Ley de Emprendedores y su Trascendencia en China”

2 Investment and Business Opportunities for Chinese Investors in Spain 1. Economic Policy and Structural Reforms: Setting the Foundations for Sustainable Growth 2

3 Investment and Business Opportunities for Chinese Investors in Spain 33 EMU IntegrationSpanish Economy Policy Transformation of Spain´s Growth Model Single Monetary Policy Fiscal Coordination Structural Reform: BANKING UNION Fiscal Consolidation Structural Reforms for Competitiveness Restructuring the Financial Sector Economic Growth & Employment External Sector Contribution to Growth Correction of Past Imbalances Setting the Foundations for Sustainable Growth COMMITMENTCONFIDENCECOMPETITIVENESS

4 Investment and Business Opportunities for Chinese Investors in Spain 4 Business Friendly Oriented Structural Reforms Of special interest to Foreign companies Competitive Labor Costs Domestic and International Market Acces Resident and Work Permits Labor market reform. Index, 2005=100; Source: Eurostat February 2014 Investment Incentives Economic Regional Incentives, R&D and Funding mechanisms and Tax relief Ensuring Market unity regulation at national and E.U. level. Law on visa and work permits and flexible application to foreign investors. Public Sector Reform Fiscal consolidation at all levels of Administration Provisioning system redressed and restructuring process. Financial System Reform

5 Investment and Business Opportunities for Chinese Investors in Spain 5 Labour cost in Spain is below the EU-27 average and Labor Productivity is growing Labour cost & Productivity Source: Eurostat October 2013; Data: % change on previous period

6 Investment and Business Opportunities for Chinese Investors in Spain New specific framework for qualified immigration and investors 6 It is based on an agile and specialized system for visa and authorization concessions. THE PROCEDURES 10 days for visas and 20 days for authorizations A single authorization for living and working in Spain Valid for the whole of Spain The family will be able to apply at the same time GENERAL REQUIREMENTS Not being in an illegal situation in Spain Being 18 years old or older Not having criminal records Public or private health insurance in Spain Enough economic resources. VISA AND AUTHORIZATION CONCESSIONS FOR Investors Entrepreneurs Highly qualified professionals Scientists and researchers Intra-corporate transferred employees Freedom to live in Spain: Granted residence and work permits authorization

7 Investment and Business Opportunities for Chinese Investors in Spain 2. Spain: a Global Platform for International Business & Investment 7

8 Investment and Business Opportunities for Chinese Investors in Spain 8 Spain, key figures

9 Investment and Business Opportunities for Chinese Investors in Spain Spain, strong and sustainable external sector performance  A competitive combination: technology, innovation, productivity and lower Unit Labor Cost have lead to a competitiveness based expansion of exports during the last three years. Source: Eurostat, 2013. 9 Export of good and services, 2005-2013

10 Investment and Business Opportunities for Chinese Investors in Spain Source: UNCTAD, 2013 10 Source: UNCTAD, WIR, 2013 Leading economies Inward FDI, USD Millions Leading economies Outward FDI, USD Millions Position of China and Spain in terms of foreign investment Economy Outward FDI stock 2012Share 2012 1United States5,191,11622.0% 2United Kingdom1,808,1677.7% 3Germany1,547,1856.6% 4France1,496,7956.3% 5Hong Kong1,309,8495.6% 6Switzerland1,129,3764.8% 7Japan1,054,9284.5% 8Belgium1,037,7824.4% 9Netherlands975,5524.1% 10Canada715,0533.0% 11Spain627,2122.7% 12Italy565,0852.4% 13China509,0012.2% 14Australia424,4501.8% Other countries5,201,19822.0% TOTAL23,592,750100% Economy Inward FDI Stock 2012Share 2012 1United States3,931,97617.2% 2Hong Kong1,422,3756.2% 3United Kingdom1,321,3525.8% 4France1,094,9614.8% 5Belgium1,010,9674.4% 6China832,8823.7% 7Germany716,3443.1% 8Brazil702,2083.1% 9Singapore682,3963.0% 10Switzerland665,5962.9% 11Canada636,9722.8% 12Spain634,5392.8% 13Australia610,5172.7% 14Netherlands572,9862.5% Other countries7,976,62735.0% TOTAL22,812,698100%

11 Investment and Business Opportunities for Chinese Investors in Spain Spain is the world’s 1 st or 2 nd largest investor in Latin America among European countries. 11 Spain: Top- Outward FDI Stock by country EUR Millions Spanish Ministry of Economy and Competitiveness, 2013 Spain: Investment in Latin America 20102011% TOTAL 1BRAZIL 55.79268.264 15% 2UNITED KINGDOM 57.42251.672 16% 3USA 44.27149.636 12% 4NETHERLANDS 17.23227.221 5% 5LUXEMBOURG 29.21926.215 8% 6MEXICO 27.20726.073 7% 7PORTUGAL 25.04221.974 7% 8GERMANY 18.67520.552 5% 9ARGENTINA 16.40015.761 4% 10SWITZERLAND 21.23614.861 6% 11FRANCE 15.79014.828 4% 12CHILE12.22911.6123% 13BELGIUM7.6327.9642% 14IRELAND7.9496.6342% 15COLOMBIA6.2196.1772% 16VENEZUELA4.2244.9491% TOTAL366.539441.825100%

12 Investment and Business Opportunities for Chinese Investors in Spain Spanish companies are among leading companies in the world:  3 out of every 5 flights world-wide are controlled using Spanish air navigation systems.  Telefonica is one of the largest telecommunications companies in the world (by market capitalization and number of customers).  Santander Bank is the 2nd in the euro zone (by stock market capitalization) and BBVA now operates in 40 countries.  IBERDROLA is the 4th largest utility company in the world (by market capitalization).  In 2012, 6 of world’s top 10 concession companies are Spanish and held 36% of the world´s infrastructure concessions.  The Al Shoula Group, a Spanish-Saudi consortium, will manage the high-speed train between La Mecca – Medina. 12

13 Investment and Business Opportunities for Chinese Investors in Spain 13 Foreign Investment Openness Source: OECD’s FDI Restrictiveness Index 2013 Spain is 9 th most open country to Foreign Investment according to OECD’s FDI Restrictiveness Index Open=0 Closed=1

14 Investment and Business Opportunities for Chinese Investors in Spain 14 Domestic and EU Market Access  Domestic market of over 46 million consumers: Spain has a GDP per capita (PPP) above the EU-27 average  Spain grants free access to the world´s largest market, the European Union: more than 500 million consumers. Advantages to operate in EU:  Intra-European duty free market.  The free movement of goods & services, capital and persons.  Single currency: EURO. BYD signed an agreement with the Basque group Bergé on the distribution of BYD’s products in Spain. Barcelona became the first European city to have a pure electric 12 meters bus. Capacity for consumption of goods Source: IMF 2014. Country GDP Million per capita RKUSD 1 United States 10 51,703.95 2 China 89 6,071.47 3 Japan 12 46,706.72 4 Germany 2141,865.52 5 France 2241,223.31 6 United Kingdom 2339,160.58 7 Brazil 6211,358.54 8 Russia 4814,302.09 9 Italy 2733,115.01 10 India 1421,500.76 11 Canada 852,299.76 12 Australia 567,304.47 13 Spain 2828,670.09 14 Mexico 6710,058.50 15 Korea 3522,588.92

15 Investment and Business Opportunities for Chinese Investors in Spain SPAIN: International platform for doing business in MENA region, Africa and Latin America  Spain has superb relationships with the North- African and Mediterranean countries and geographic proximity.  The best European platform for doing business with Latin America.  Euro-Mediterranean Association Agreements  Agreements for Protection and Promotion of Reciprocal Investments  Agreements to Avoid Double Taxation The general manager of Cosco, Yang Lei, highlights the use of the geographical position of Spain and the language as a platform for doing business in South America and North Africa.

16 Investment and Business Opportunities for Chinese Investors in Spain  Over 12,800 foreign companies are currently located in Spain across all economic sectors. 70 of the FORBES Top 100 companies have branches in Spain. 90 out of 100 top R& D Companies according to Thomson Reuters has a subsidiary in Spain 16

17 Investment and Business Opportunities for Chinese Investors in Spain  Companies of USA, Italy, France, UK, and Germany are the largest investors in Spain.  Most Chinese companies in Spain have partnerships with major Spanish companies.  There is mainly representation of Chinese companies in: electronics, wholesale trade, support activities for transportation and manufacture of machinery and equipment Spain: Inward FDI by country Stock EUR Millions 17 Country 1USA75,074 2ITALY49,038 3FRANCE37,633 4UNITED KINGDOM35,001 5GERMANY29,142 6MEXICO22,835 7LUXEMBOURG20,168 8PORTUGAL17,596 9NETHERLANDS16,844 10SWITZERLAND10,248 11BRAZIL7,601 12UN.AR.EMIRATES5,221 13SWEDEN4,690 14CANADA4,242 15JAPAN3,005 16BELGIUM2,356 17COLOMBIA2,327 18ISRAEL1,297 19DENMARK1,136 49CHINA168 65HONG_KONG33 Rest of World31,884 TOTAL 377,540 Spanish Ministry of Economy and Competitiveness, 2013

18 Investment and Business Opportunities for Chinese Investors in Spain 18 Source: FDI Markets: fDI Report 2013, Global Greenfield Investment Trends. Financial Times 2013 Greenfield Projects in Spain, by sector

19 Investment and Business Opportunities for Chinese Investors in Spain 19 Greenfield Investment Trends in Spain by sector From China 2003 – 2013 (X) Source: FDI MARKETS, 2013. Mill. USD From Hong Kong 2003 – 2013 (X) Industry SectorProjectsCapexJobsCompanies 1 Electronic Components93352738 2 Communications5572452 3 Metals514725 4 Textiles313673 5 Alternative/Renewable energy 33871281 6 Financial Services384702 7 Industrial Machinery, Equipment & Tools 2271982 8 Business Services281702 9 Chemicals252702 10 Consumer Electronics1141391 11 Medical Devices1171 12 Minerals13161 13 Plastics121451 Total381,0161,50029 Industry SectorProjectsCapexJobsCompanies 1 Textiles9417023 2 Transportation41,0291,7083 3 Warehousing & Storage42,7175,4104 4 Hotels & Tourism31773911 5 Consumer Products2844602 6 Metals11101 7 Business Machines & Equipment 16601 Total244,0548,74114

20 Investment and Business Opportunities for Chinese Investors in Spain Business Opportunities in Spain 20  Automotive  Aerospace  ICT  Chemicals  Biotechnology  Industrial Machinery  Environment & Natural Resouces  Nearshore Services, SSC, BPO, etc.  Tourism  Real Estate  Agrofood  Transport & Logistic

21 Investment and Business Opportunities for Chinese Investors in Spain Business opportunities: REAL ESTATE Why Spain for Real Estate Source: Ministry of Public Works, 2014. THE REAL ESTATE STOCK DISTRIBUTION (Number of Housing and % by Region, 2012) 21  Good value for money offer:  The stock reduction  The price adjustment  Strong Legal and Institutional Framework  New measures  Growing Rental Market  Increasing Foreign Investment  Professionals  Individuals  Spain, a major player in Tourism (2 nd Worldwide Tourist Destination by Revenues)  Outstanding Connections: International Airports, top High-Speed Train (AVE) and 3rd largest worldwide High-Speed Network  Excellent gastronomy, culture and climate.

22 Investment and Business Opportunities for Chinese Investors in Spain Business opportunities: REAL ESTATE PRICE ADJUSTMENT Source: Ministry of Public Works, 2013. 22 Nominal Housing Price Adjustment Since Peak in Each Province (%) 1 st Q20121 st Q2013 Source: National Statistics Institute Nominal Housing Prices Adjustment by type of residence (Year-on-year growth rates)

23 Investment and Business Opportunities for Chinese Investors in Spain Business opportunities: REAL ESTATE 23 INCREASING FOREIGN INVESTMENT Number of Foreigners’ Home Transactions  Foreign demand is starting to react to price signals: After dropping 35% in 2009, the acquisition by non residents rose by 8% between 2011 and 2012. Foreigners’ Home Purchases (%) Source: Ministry of Public Works, 2013. Source: Association of Property and Mercantile Registrars of Spain, 2014. Source: BNP Paribas, 2013. Total Real Estate Investment Volume Spain Estimate Source: Ministry of Public Works, 2013.

24 Investment and Business Opportunities for Chinese Investors in Spain 24  3 rd destination worldwide in number of international meetings (source: International Congress and Convention Association, ICCA)  Leading European destination in Tourism (source: Eurostat)  Top global leisure travel destination: 60.3 million tourists in 2013  2 nd country in the world in terms of UNESCO World Heritage Sites (42 sites)  2 nd country in Europe in natural areas (14 national parks,126 nature reserves) and natural spaces declared UNESCO Biosphere Reserves (42, behind only the United States with 47)  2 nd country, behind the United States, in receiving foreign golf tourists (431 courses and more than 1 million)  2 nd country in Europe in number of hotel rooms (3.2 million, more than 50% of which are superior category (4 and 5 stars); and 15,000 rural tourism establishments) Business opportunities: TOURISM

25 Investment and Business Opportunities for Chinese Investors in Spain April 2013  NH Hotels has given the Chinese group HNA entry as a shareholder with a 20% by subscribing to a capital increase  The strategic agreement provides the framework to create a joint venture between the two groups for the primary purpose of developing the hotel business in China, one of the fastest growing markets in the world, while NH Hoteles will diversify its operations.  On top of that, the aim is to increase the flow of Asian customers in NH Hoteles, diversifying the type of users per country. December 2012  Chinese Real Estate developer Greenland group signed a strategic agreement with the Spanish hospitality group Meliá.  Greenland Group will exchange hotel assets with its Spanish partner, getting the Hotel TRYP Ambassador in Madrid and the Melia in Barcelona. The two hotels are valued at $242 million.  Its first result was the announcement of the “Qube” Meliá hotel in the city of Frankfurt Business opportunities: TOURISM Success stories

26 Investment and Business Opportunities for Chinese Investors in Spain November 2009  The HK Mandarin Oriental Hotel Group opened a luxury hotel in Barcelona in November 2009.  The hotel has taken full advantage of the luxury tourism visiting Spain, with an average room price above 5,000 HK$ Business opportunities: TOURISM Success stories

27 Investment and Business Opportunities for Chinese Investors in Spain Business Schools Source: Financial Times 2013 IE Business School holds the No. 1 position in the 2013 Financial Times ranking of European business schools 27 2013 Rank 3 year average rank School nameCountry 11HEC ParisFrance 13IE Business SchoolSpain 33London Business SchoolUK 35Esade Business SchoolSpain 54InseadFrance/Singapore 65Iese Business SchoolSpain 79University of St GallenSwitzerland 89SDA BocconiItaly 97IMDSwitzerland 109 Rotterdam School of Management, Erasmus University Netherlands 11 ESCP Europe France/UK/Germany/ Spain/Italy 1211University of Oxford: SaïdUK 1316EMLyon Business SchoolFrance 14 Essec Business SchoolFrance/Singapore 15 Vlerick Business SchoolBelgium 16 Imperial College Business SchoolUK 1725Edhec Business SchoolFrance 1816City University: CassUK / UAE 1917Cranfield School of ManagementUK 2023Tilburg University, TiasNimbasNetherlands

28 Investment and Business Opportunities for Chinese Investors in Spain Business Schools Source: Financial Times 2014 Spanish Business Schools have three MBA programs among the top 25 in the world 28 Global MBA ranking 2014 2014 Rank School nameCountry 1Harvard Business SchoolUSA 2Stanford Graduate School of BusinessUSA 3London Business SchoolUK 4University of Pennsylvania: WhartonUSA 5Columbia Business SchoolUSA 6InseadFrance/Singapore 7 Iese Business SchoolSpain 8MIT:SloanUSA 9University of Chicago: BoothUSA 10Yale School of ManagementUSA 11University of California at Berkeley: HaasUSA 12IMDSwitzerland 13 IE Business SchoolSpain 14Hong Kong UST Business SchoolChina 15Northwesterm University: KellogUSA 16University of Cambridge: JudgeUK 17Duke University: FuquaUSA 17New York University: SternUSA 17CeibsChina 20Dartmouth College:TuckUSA 21HEC ParisFrance 22 Esade Business SchoolSpain

29 Investment and Business Opportunities for Chinese Investors in Spain  6. ICEX-Invest in Spain Orense 58, 3rd floor 28020 Madrid SPAIN T (+34) 91 503 58 00 E-mail: investinspain@icex.esinvestinspain@icex.es www.investinspain.org ICEX / Invest in Spain your partner in Spain 29

30 Investment and Business Opportunities for Chinese Investors in Spain Objectives & activities  To promote, attract and maintain foreign direct investment in Spain  To be the benchmark for foreign investors and the meeting point between companies and institutions in the State, Regional and Local levels engaged in promoting and attracting investments About us…  INVEST IN SPAIN is the Directorate in charge of attracting foreign direct investment in ICEX-Spain Trade & Investment, an official enterprise of the Secretary of State for Trade - Ministry of Economy and Competitiveness.  Attracting new projects of foreign investment by focusing on countries, sectors and businesses that involve greater growth potential for Spain  Promoting a business climate and facilitating doing business in Spain  Transmitting an image of Spain as an internationalized country associated with highly competitive human and technological resources 30

31 Investment and Business Opportunities for Chinese Investors in Spain Provides advice about the most appropriate way (quickest and least bureaucratic) to obtain the permits for highly qualified employees, technical staff, scientists, families,...  Advice about how to open a branch, create or acquire a company...  Assessment regarding transactions that involve immigration issues for foreigners without residence in Spain  Act as the institutional contact for companies vis-à-vis all Spanish bodies with powers, such as the Spanish Embassy and Consulates, Ministry of Employment, Home Office and Regional Immigration Offices  Services of special interest : Immigration Departme nt 31

32 Investment and Business Opportunities for Chinese Investors in Spain  6. ICEX-Invest in Spain Orense 58, 3rd floor 28020 Madrid SPAIN T (+34) 91 503 58 00 E-mail: investinspain@icex.esinvestinspain@icex.es www.investinspain.org ICEX / Invest in Spain your partner in Spain 32


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