Friday, April 19, 2024

Inverscreaa project will attract foreign investment to Andalusia

March 9, 2021
Inverscreaa project will attract foreign investment to Andalusia

Public agency Extenda of foreign trade promotion has completed the first edition of its ‘Inverscreaa’ programme. This plan is intended to enable Andalusian companies in the agri-food and agrotech sectors to attract foreign capital investment to their organisations. On this occasion, the project involved twelve Andalusian firms, half of which have already managed to start a process of attracting foreign investment with an investor. The other half have developed the training process, which will facilitate their participation in future processes of attracting foreign investment.

During the four months that this action has lasted, the twelve participating firms have worked with Extenda on their skills and abilities with the idea of finding new partners abroad with whom to grow together through an investment in their projects. In 2019, the last year for which complete data is available, foreign direct investment in Andalusia reached 836 million euros in gross terms, its highest level since 2010 and 82% higher than in 2018.

To achieve the purpose set by ‘Inverscreaa’, the programme has been divided into three training modules, which has prepared the representatives of the Andalusian companies to face a final meeting where seven foreign investors from six entities have attended, and where the six firms with the projects of greatest interest to these professionals have arrived.

The CEO of Extenda, Arturo Bernal, highlighted “the firm commitment of Andalusian companies in the agri-food and agrotech sector to improve the skills that will enable them to meet new partners abroad, partners with whom to boost their business and grow together, in key and strategic sectors for Andalusia, where we are a national and international benchmark”.

In this regard, Bernal highlighted the importance of “the role played by Inverscreaa in this scenario, offering appropriate advice to firms in these sectors to make their projects more interesting to investors, enhancing their skills and facilitating the possibility of obtaining foreign investment, which is essential in a long-term vision for the development of their businesses”.

The ‘Inverscreaa’ project has involved twelve Andalusian firms from the agri-food and agrotech sectors. Of these, three are from the province of Almeria (Biorizon Biotech, Carretillas Amate and Novagric); three from Malaga (Aceites Malaga, Avokanto and Cofruma); and another three from Seville (Brioagro, Ipeca and Tepro Consultores Agrícolas). The remaining three come from the provinces of Cádiz (Conservera de Tarifa), Córdoba (Toro Albalá), and Jaén (Coloryn).

Half of the participating companies were able to present their projects at the meeting with investors, selected based on the interest shown by the investors in their expansion plans. These included two of the three from Almeria (Carretillas Amate and Novagric); one from Seville (Brioagro); and three from Cádiz (Conservera de Tarifa), Cordoba (Toro Albalá) and Jaen (Coloryn).

The organisation of this action by Extenda, a public company of the Regional Ministry of the Presidency, Public Administration and Interior, will be co-financed with funds from the European Union through the Andalusian ERDF Programme 2014-2020, with a Community contribution of 80%, or any other European Programme that may co-finance this action.