Amongst 140 economies, Spain’s competitive improvement has risen from 35th place in 2014 to the 33th according to The Global Competiveness Report 2015-2016 published by the World Economic Forum, highlighting the significant progress improvement of its foreign investment and competitiveness.
The World Bank highlights the restructuring made in Spain “simplifying the business registration and implementing an electronic system that unifies different public bodies”. Spain is the tenth most competitive country in the Eurozone, partly thanks to the improvements in market competitiveness and efficiency of the labour market, according to EuropePress.
For the first time, the 2015 report of the Davos Forum has included a detailed analysis of each of the Autonomous Communities in Spain, which indicates that La Rioja and Madrid are the regions with greater opportunities for entrepreneurs.
During the last year Madrid has been establishing regional policies that seek to reduce red tape. The Minister of Economy, Finance and Employment, Engracia Hidalgo, said that Madrid leads in foreign investment. So that in the second quarter of 2015 4.229 million euros where gained, 61% more than in the same period in 2014. “These outcomes are the result of economic policies that make Madrid an attractive region for investors. Some policies based on removing obstacles to entrepreneurship, releasing shop opening hours, as well as lowering the tax burden in Madrid”, has said.
Seventy percent of foreign investment in Spain is received in Madrid.