The Diplomat
The Board of Directors of ICEX Spain Export and Investment approved last Wednesday its Strategic Plan for 2021-2022, which is part of the Action Plan for the internationalization of the Spanish economy that was approved on May 11 by the Council of Ministers and presented on May 26 by the President of the Government, Pedro Sánchez, at ICEX headquarters.
With this new Strategic Plan, ICEX presents a series of lines of action to address the challenges and opportunities that have arisen after the COVID-19 pandemic, with the fundamental mission of “contributing to the strengthening of the foreign sector, making it more inclusive and resilient, constituting a pillar of recovery and contributing to a more sustainable internationalization”, the institution reported in a press release.
In ICEX’s opinion, the internationalization of the Spanish economy must still face “a series of structural weaknesses”, such as the fragmentation of the export base, the limited technological content of exports and insufficient geographical diversification.
To this end, six main objectives have been set. On the one hand, it will promote the acceleration of the consolidation of companies in the international market, accompanying them in their internationalization process in a dynamic way and in all its phases, and reinforcing the positioning of subsidiaries in the destination country. The Plan also aims at diversification and anchoring in the target markets, with special attention to the opportunities arising from international tenders with multilateral financing and actions aimed at promoting security of supply, as well as through active support to foreign buyers seeking Spanish supply.
The third objective is to increase the added value of exports, with special attention to the development of digital skills and the massive use of technologies, as well as branding and innovation as differentiating factors. Within this objective, comprehensive support will be provided to the company in the implementation of its international strategy through e-commerce, including access to the most relevant platforms.
The Strategic Plan also aims to attract and retain foreign direct investment, favoring sustainable growth, quality employment and innovation by taking advantage of the opportunities arising from the reorganization of value chains; promoting international mobility to attract talent, by strengthening its range of training services and through new programs created for this purpose or the promotion of international professional networks that facilitate this, such as the ICEX Alumni Network, among others; and improving the resilience of the institution itself with a public-private partnership vocation “for the construction of an integrated, cohesive, digital and sustainable ICEX”.
