The Financial Times places the Basque Country as the best European region in logistics for foreign investment

17 February, 2016

The annual report by the prestigious British newspaper highlights that, among medium-sized regions, the Basque Country has the sixth best strategy for attracting foreign investment. It is also the fifth best in Southern Europe in investment attraction indicators as a whole.

A report by the British publishing group Financial Times has placed the Basque Country as the best medium-sized region in all Europe in connectivity (logistics) and as sixth with the best foreign investment attraction strategy, only bettered by regions such as the Copenhagen area in Denmark, Tuscany in Italy and three more in the United Kingdom, Poland and the Netherlands. The Basque Country is also the fifth best in Southern Europe in investment attraction indicators as a whole.

The prestigious newspaper, the world reference in the business and economic press and an indispensable guide to international investment markets and movements, publishes a Cities and Regions ranking every year, divided by continents.

The report has appeared a few days after Arantxa Tapia, Basque Government Minister for Economic Development and Competitiveness, revealed the excellent figures for Invest in the Basque Country, the specific section of the Basque business development agency, SPRI, responsible for attracting and retaining foreign direct investment, which convinced 22 new industrial projects to invest in the Basque Country in 2015. This is a fourfold increase on the five investment projects achieved the previous year.

The Financial Times report separates European cities and regions into three sizes (large, medium and small) and analyses several factors: investment attraction strategy, economic potential, human capital and lifestyle, cost-benefit/effectiveness, connectivity (logistics) and business friendliness.

The Basque Country is ranked as the best medium-sized region in all Europe in connectivity (logistics) and as sixth with the best foreign investment attraction strategy, only bettered by regions such as the Copenhagen area in Denmark, Tuscany in Italy and three more in the United Kingdom, Poland and the Netherlands. The Basque Country is also the fifth best in Southern Europe in investment attraction indicators as a whole.

The report confirms the work that has been carried out in recent years. Attracting foreign investment into the Basque Country is one of the strategic policies that the Basque Government has historically carried out in its industrial and economic development sector, a task that has always been entrusted to SPRI. However, it has been this term, following reflection on the methodology implemented in 2013, when this line of work has been strengthened by increasing the number of projects assessed and also the number of companies “captured”.

Since the Invest in the Basque Country strategy was strengthened, 27 foreign investment projects have been attracted in just two years, involving 152.05 million euros in investment, creating 783 jobs and maintaining 1,227.

The Financial Times report also underlines that Bilbao is ranked as the fourth best medium-sized city in foreign investment attraction strategy and the tenth city in Southern Europe.

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