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Unstoppable Spain SPAIN usat 1 OK PDF.qxd 19/2/08 11:31 Página 1 MADRID Page 2 VALENCIA Page 5 EXTREMADURA Page 6 TECHNOLOGY Page 7 THE CONSTANTLY ‘SPORTY, NAUTICAL REBRANDING WITH INNOVATION AND MOVING CAPITAL AND AND LIGHT STYLE AND UNIVERSAL ENTERPRISE CREATE IDEAL EUROPEAN HQ ON ITS FEET’ ICT ACCESS TECHNOLOGY FOR LIFE Thursday, February 28, 2008 SPAIN This supplement to USA TODAY was produced by United World LTD.: 4410 Massachusetts Ave NW, Washington - DC 20016 - Tel: 1-202.347.9022 - Fax: 1-202.347.9025 - www.unitedworld-usa.com QUOTE/UNQUOTE Unstoppable Spain ‘We are now the A dynamic economy and an indomitable joy for life has created the perfect eighth economic environment for twenty-first century global business conquistadors power in the world’ Spain’s ambassador to the called the Iberian Tiger, just like U.S. Carlos Westendorp Ireland is known as the Celtic Tiger. outlines the strong relations The country has been growing at between the two nations an average yearly rate of 4 percent, which is double the EU average. In 1986, Carlos Westendorp be- Spain is now the eighth econom- came Spain’s first ambassador to ic power in the world and for this the EU. He was tasked with inte- reason alone it should be impor- grating the country into the poli- tant to the U.S. tics and economics of Brussels. After a brief stint as ambassador What are the competitive advantages for U.S. to the UN, he left New York in investors in Spain? 1997 to serve as special envoy to Spain is strategically located in Bosnia-Herzegovina. In 2004, the Mediterranean and a natural when the Socialists were voted port of entry to the European mar- back into office in Madrid, he was ket. Other important assets are appointed ambassador to Wash- our presence in Latin America and ington. our influence in the Middle East, in particular with Arab How would you characterize countries. Our econo- your mission and main task my is booming, we in Washington? have a competitive reg- We’re putting a lot ulatory framework of emphasis on the and our language is an Hispanic community, advantage because of although we also have Latin America. a good working rela- tion with other com- What about Spanish investors munities. Latin in the U.S.? America is an asset for CARLOS WESTENDORP In less than four us. After all, Spain is Spanish Ambassador to years, Spain has the second-largest in- the United States quadrupled its FDI The nation’s expanding horizons have brought about the award-winning Terminal 4 at Madrid’s Barajas airport. vestor there after the here. An important U.S. and I think we can accom- factor has been the strength of the Few metrics can account for the With real GDP growth of 2.8 per- gusto that raises eyebrows at trad- year and has been described by a plish a lot together. We have a very euro. But the most important fac- Spanish makeover since 1986, when cent in 2008, it is time for Spain to ing floors. In 2004, Spain’s Banco Paris fashion director as ‘possibly active cultural and educational pol- tor is that large companies in Spain it joined the European Communi- capture technology in its total fac- Santander Central Hispano bought the most innovative and devastat- icy too. now have money to invest. The ty. By 1989, GDP had grown 4.8 per- tor productivity (TFP). the UK’s Abbey Bank in Europe’s ing retailer in the world’. My objective is to improve U.S. is a difficult market to pene- cent annually and per capita income Policymakers are playing the role largest cross-country merger. Even For Gerardo Diaz Ferran, of the Spain’s economic presence. I’ve trate, but once you’re here com- had leapt 4 percent. After decades of enablers these days. ICEX, Spain’s lesser banks are unrecognizable. Spanish Federation of Entrepreneurs been very lucky because Spanish panies are highly competitive. of unstoppable growth, income per trade promotion agency, has been “Twenty years ago, savings banks (CEOE), this is a unique time win- firms have suddenly realized the Investors are mainly from the fi- person climbed to 105 percent of the matching investors with scientific didn’t have any industrial participa- dow. A switchover to a technology- importance of investing in the U.S. nancial sector, including Banco European average in 2007. The in- parks and universities since 1983. tion and half of their assets were in led export model is the way for Spain market. Once you have a network Santander and BBVA. Construc- dicator, by the European statistical The liaison has helped alter the public debt securities,” says Juan to stay ahead. On a visit to Cairo last of world-class firms, you become tion companies are being award- office, factors out inflationary dif- Quintas Seoane of the Spanish Con- February, Diaz asked Egyptian au- much more influential. If you in- ed public procurement projects, ferences between countries. But it BILATERAL TRADE WITH federation of Savings Banks (CE- thorities to allow Spain to launch a vest in specific states, you have ac- including one for urban furniture is nevertheless a measure of how far THE U.S. NOW STANDS CA). Today, their net worth has series of mega-projects across the cess to governors, congressmen in New York. Then there is the this country of 45 million has AT $10 BILLION AND increased 60 times and volume of Middle East, including tourist in- and mayors. food industry, as well as high-tech changed. What next? SPANISH COMPANIES assets exceeds Spanish GDP. frastructure and industrial engi- companies in renewable energy. “We are now the eighth-largest ARE SETTING TRENDS Meanwhile, bilateral trade with neering. “We have a lot to offer at a What does the average American know economy in the world and we want WITH INNOVATION the U.S. now stands at $10 billion, good price,” says Clos, also part of about Spain? UNITED WORLD PROJECT to make sure we stay there for a long mindset of hundreds of Spanish up from $4 billion in 2004. Blue chip the trade delegation in Cairo. It depends who you ask. If it’s TEAM IN SPAIN time,” says Joan Clos, the Minister SMEs, often unable to implement companies like Telefonica snapped All said and done, Spain is also a someone in Oklahoma, I am not Project Director: Elisa L. Moriarty of Industry, Tourism & Commerce. R&D schemes on their own. In the up the Lycos Internet portal in 2000 social and artistic innovator. Issues sure the person will know where Editorial Research: A former mayor of Barcelona, Clos world of biotech, the gamble is al- for $5.4 billion, selling it later to like gay marriage, embryonic stem Spain is. But on the coasts, people Miguel Artacho, is keenly aware of competitive strate- ready paying off. Last year, Zeltia, a Daum Communications of South cell research and gender parity in are familiar with the country and Ignacio Giavi and Carlos Duez gies in sectors like tourism and re- bio-pharmaceutical company based Korea. With the strength of the eu- politics are a few of the character- astonished at the level of growth. Logistics Coordination: newable energy. For him, Spain is in the northwestern region of Gali- ro, prêt-a-porter chains based in istics of the new Spaniards. While Spain is a very attractive country Begoña Blanco about to undergo a second com- cia, applied for FDA approval for a Spain are opening flagship stores in star architects like Santiago Cala- with an edge in fashion, balmy petitive shock as the construction drug derived from marine organ- New York. In Ohio, a subsidiary of trava work on skyscraper designs weather and excellent food. Amer- Sectorial photos by Kristin Kjellgard sector ceases to drive economic ac- isms. Its R&D expenditure had Endesa, a Spanish energy giant, is in Chicago, actors like Javier Bar- icans admire success and it’s al- tivity. Construction companies are grown to €36.7 million ($53.3 mil- retro-fitting hydraulics factories to dem have walked off with this year’s ways a first step to getting involved. A more extensive version however bolstered by the services lion) by 2004. produce rotor blades for wind tur- Golden Globe Award for Holly- of the Seopan group, which high- Spain’s financial system bears lit- bines. In fashion, trendsetters like wood’s latest hit, No Country for What role have U.S. investors played in the of this report is lights the extensive experience and tle resemblance to its former self. Zara have invented a new school of Old Men. The title of the movie Spanish takeoff of the last 15 years? available at expertise of its members to the in- Banks have expanded into Europe marketing. Part of the Inditex Group, could very well apply to the new and Spain has undergone an eco- www.unitedworld-usa.com ternational business community. and Latin America with the kind of Zara produces 10,000 designs per unstoppable Spain. nomic miracle. It could easily be CULTURE VULTURES FLY HIGH On the north Atlantic fringe, you will enter the Celtic domains of Gali- cia and Asturias, with lush mountains Everything is art and Iron Age hillforts. Further east are the Basques, a proud industrious The fame of Spain is anything Spain is a country of individual- fessor, played by Ben Kingsley. The people with possibly the most so- but plain as the nation’s ists, says author John Hooper in The screenplay is based on a Philip Roth phisticated culinary societies on the creative spirit soars overseas New Spaniards.
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