Multinationals eye the Valencia region
Three provinces on the cusp of a new era of prosperity
ACTING Valencia president Ximo Puig has revealed the possibility of unprecedented investment in the region while on the campaign trail for elections which take place on Sunday.
Sr Puig stated that his coalition government is in negotiations with 10 multinational companies which could invest €24.4 billion in the three provinces of Alicante, Valencia and Castellón.
He assured that talks are taking place at ‘the highest level’ and could see the creation of 43,000 direct jobs.
This follows the move from Volkswagen to site their ‘Gigafactory Valencia’ in Sagunto, which is seeing a €10 billion investment in Spain – the largest single industrial spending commitment in the country’s history.
Sr Puig highlighted that the ‘arrival of Volkswagen has amplified the potential of the Valencia region as a place to do business and for growth’.
Although he refrained from naming names, he noted: “We are negotiating with multinationals to welcome largescale industrial projects in technological sectors.”
They span the fields of electric vehicle manufacturing, microprocessors, green hydrogen, renewable energy, batteries and components, amongst others.
Sr Puig assured that the talks are so far advanced in some cases that ‘a good number of these projects will go ahead’.
“Others will end up in other European capitals,” he admitted.
The politician who is looking for a third term in office in the regional election on May 28 said ‘this is Valencia’s moment’ and that the region is ‘in the vanguard of new industries’. And he vowed that the three provinces would be able to create 150,000 jobs during the next legislature.
Sr Puig was also on hand to present the calendar for the group phase of the Davis
Cup, which is taking place in Valencia from September 12 to 17.
Spain will be taking on Serbia, the Czech Republic and South Korea in Group C of the popular tennis competition, hoping to qualify for the final eight in Málaga in November.
More information and tickets from www.davis cup.com/en