Business opportunities

Galicia is one of the Autonomous Communities of Spain, which is the eighth largest economy in the world. Its economic structure is characterised by stability and constant growth, as well as moderate inflation and low interest rates, making Galicia an ideal place to invest.

Any investor has access to tax incentives, particularly in the field of innovation and for hiring personnel. Galicia has a highly skilled population and a developed business structure characterised by operating costs lower than those of the EU, competitive prices for hiring ships, offices, supplies, etc.

Galicia's geographic location gives it direct access to some 500 million consumers: 44 million in Spain, 10 million in Portugal, and 443 million consumers in the rest of the European Union who have high purchasing power. A modern network of transport and telecommunications infrastructure is one of the factors providing this access.

If you would like to find out more about Galicia, please go to Galicia in Figures. Here you will find all the information you need: geographical location, population data, infrastructures, business land, social welfare, education level, state of the Galician economy, tax system, political organisation, description of foreign trade, etc. You will also find practical data and links to access any information that may interest you.

In this section you can find information on the steps to take in order for your investments in Galicia to be successful.

The information we offer is divided into the following subsections:

1. Methods for getting established: The foreign investor has various alternatives for operating in Galicia. Let's go over them
2. Tax Issues: Company internationalisation results in capital and revenue flows, the fiscal consequences of which must be taken into account
3. The Labour Market: Everything you need to know to get a team of workers in Galicia
4. Incentives for Investment: A foreign investor can choose from different types of aid and incentives for getting established or doing business in Galicia. Find out what they are
5. Aid and Sources of Information: There are organisations providing support and advisory services to entrepreneurs. Where to go in the first place?

Today's economic setting is characterised by an intense inter-relation of economies, a search for efficiency and competitiveness without regard to geographical limitations. The opening of markets and the growing interdependence and flexibility of financial markets enables business to be done from any part of the world with any other part of the world. Internationalisation is measured in terms of the presence of companies abroad, whether they are introducing products into other markets or making investments in foreign countries.

The Galician economy has not been left behind in this process. Not only are Galician companies present abroad, but foreign companies are also investing in Galicia, making our economy a particularly open one. In terms of the country as a whole, the increase in Spanish investment abroad in recent years has been outstanding. According to figures from the Investment Register of the Secretariat General for Tourism and Trade, foreign direct investment (FDI) increased from 3% of GDP in 1990 to 33.8% in 2005. In Galicia, sectors such as textiles, automobiles, energy, audiovisuals and construction stand out for their buoyancy and integration in the world economy, with strategies extending beyond exportation.

The World Bank, in its report "Prospects for the Global Economy 2007", forecasts a scenario in which world production will double, figures for foreign trade will triple, and a consumer boom will arise from the widespread growth of the middle class and the buoyancy of emerging markets. All of this translates into opportunities for the Galician productive sectors.

byGalicia is your starting point. You can access information on international marketing, forms of entry into foreign markets, legal aspects, customs procedures, training, etc. You will also find information and tools specifically intended to help you invest and consolidate your investments abroad.

1. Investment and Financing
   Buying and selling goods and services and investing abroad require financing. This section covers the various financing possibilities and analyses the specific aspects of financing international projects.
2. Company Programmes
   Comprehensive support programmes are available for companies. Visit this section and find the one that meets your needs.
3. Aid
   Different administrations offer companies a wide variety of aid instruments for internationalisation. Consult this section and follow the links we provide. You will find support for your project, both for promotional activities and for establishment abroad.
4. Search for Markets
   Which market is the most appropriate one to pursue? This is a difficult decision. byGalicia would like to help you. Visit this section.
5. Market Opportunities
   A good way to access foreign markets is through trading opportunities. Many organisations issue invitations to tender in which Galician companies may participate. Moreover, many companies seek trading partners or launch offers to market their products. All this information is available to you in this section.

ICEX has published a guide compiling the public aid programmes for foreign investment.

The Ministry of Industry, Tourism, and Trade provides necessary information for Spanish investors including relevant legislation, agreements signed by Spain, statistics, reports, and detailed information on financial support facilities for Spanish foreign investment.

The magazine"El Exportador" onlinefeatures articles and information on investments abroad and internationalised companies.

Monthly magazine O Exportador published by FOEXGA. The section “Oportunidades Comerciais” lists foreign companies interested in importing various goods from Spain.

Asiared:Information in Spanish of all types regarding economics, society, investments, etc. on the Asian continent.

SICE, the Organisation of American States' Foreign Trade Information System, offers information on trade in the Americas, trade agreements, legislation, and investments.

Investment in Latin America and information on Latin American countries.

Africa infomarketall types of information on Africa, companies, culture, investments, cooperation facilities, and news of interest to Spanish investors in the continent.

byGalicia provides you with a forum tool so that you can post your investment offers and opportunities.

Take advantage of it and start doing business in Galicia.

• Implantation methods
• Fiscal aspects
• Employment market
• Incentives for the investment
• Aids and directories
• Investment opportunities