Wednesday, December 1

Sánchez starts his economic tour of the US to attract investment

The president will not meet with Joe Biden at the White House, nor will he serve with any member of his Administration. The Minister of Industry, Reyes Maroto, who flew this Sunday to Pittsburgh (Pennsylvania) to meet with those most responsible for AlcoaYes, he will meet with two members of the American Government in Washington, the Secretary of Commerce, Gina Raimondo, and the head of the Office of the US Trade Representative, Katherine Tai. Maroto later will join Sánchez in New York, Los Angeles and San Francisco.

In Moncloa they emphasize that a political meeting at the highest level has not been requested, because now is the time to attract capital


The chief executive will dispatch with businessmen and representatives of the financial, audiovisual and technological sectors. That is the focus of their tour, they specify in Moncloa, to which is added a cultural leg, since it intends to promote Los Angeles as “house of the hispanic“. Government sources indicate that the US tour.”does not have a political objective“, because” it is not the time for meetings at the highest level “with the Biden Administration. Moreover, they have not been requested. The diplomatic relationship between the two countries is” extraordinarily close “, but, in coordination with Foreign Affairs, it has been understood that now it is a priority for Spain to go to the nerve centers of the country: New York, the financial capital of the world; The Angels, as a point of reference for the audiovisual universe, and San Francisco, due to its importance in technological and digital transformation. “There will already be an opportunity to strengthen political contacts. This is the type of trip that had to be done now,” they justify.

In the Executive they say that many large companies are about to make investment decisions of great weight, and that is why it is key “put Spain on the radar“. The approval of the recovery plan, the end of the pandemic and the good progress of vaccination help, they believe, to this objective. They put as an example the announcement made on Tuesday by the Volkswagen group – in which Seat is a member -: will install a third battery factory for electric cars in Spain, after those in Germany and Sweden, taking advantage of the approval of the first Strategic Project for Recovery and Economic Transformation (Perte), agreed by the Government to promote the electric and connected car.

Pedro Sánchez, at the Perte presentation for the development of the electric and connected vehicle, on July 12 at Moncloa. EFE

MNSBC, Reuters, CNN, Bloomberg

In Moncloa they emphasize that the type of meetings, of a first level, of an economic nature, and Sánchez’s busy schedule in the three American cities already justify the trip by itself. In addition to its exposure in US media, where you can sell Spain to large audiences. On Wednesday the 21st, in fact, the president starts the day with an interview in the “Morning Joe” space of the MSNBC television network, a morning program presented by Joe Scarborough. Later, Sánchez will hold meetings with a dozen large investment funds (JP Morgan, Goldman Sachs, Soros Fund Management, BlackStone …). At noon you will have lunch with Michael Bloomberg, a former mayor of New York, a former candidate for the 2020 Democratic primary (which Biden won) and an economic information mogul. Then he will meet Larry Fink, CEO of BlackRock, the world’s largest investment manager.

Sánchez will meet with the executives of the JP Morgan, Goldman Sachs, Soros or BlackStone funds, and will meet with Michael Bloomberg and Larry Fink, CEO of BlackRock


At around 3.30 pm on Wednesday, the Chief Executive will be interviewed by the news agency Reuters, for a period of 30 minutes, at the headquarters of the Instituto Cervantes in New York. And around five o’clock he will inaugurate the Economic and Commercial Office of Spain in the American city, with the presence of Spanish companies, in an iconic building in the ‘skyline’ of the metropolis, the Chrysler Building, on 42nd Street and Lexington Avenue, in the heart of Manhattan.

Later in the afternoon, Sánchez and his delegation will fly to The Angels. On the morning of Thursday 22, he will be interviewed by CNN in Spanish and will visit NASA’s Jet Propulsion Laboratory, which has launched the ‘rovers’ that have traveled to Mars, such as the’ Spirit ‘, the’ Opportunity ‘, the’ Curiosity ‘and the last one, the’ Perseverance ‘, sent to the red planet on July 30, 2020. Some of the pieces have been manufactured at the Madrid Deep Space Communications Center, in the town of Robledo de Chavela. The Government wants “boost“and strengthen collaboration with the North American space agency.

In the afternoon, the Chief Executive will approach the Universal studios, the mecca of cinema, where he will meet with the CEOs of the most important production companies (Netflix, Disney, Warner …). The Government wants to make Spain the audiovisual ‘hub’ of Europe, for which it has approved a public investment plan of 1,603 million euros for the period 2021-2025 and whose goal is to increase 30% audiovisual production carried out in Spain at the end of the period. Industry has also signed an agreement with Netflix to use series and movies shot in our country as a tourist resource to help the sector recover after the sharp drop in international demand caused by the outbreak of the COVID crisis.

Tycoon Michael Bloomberg, former mayor of New York and candidate for the last Democratic presidential primaries, on February 19, 2020. REUTERS

Opening of the new Cervantes

The brief stay in the city will serve Sánchez to anchor the facet cultural From the trip. He will deliver a lecture at the University of California, Los Angeles (UCLA) on the need to promote the teaching of Spanish in the US. The talk will come just a week after the Council of Ministers approved the opening of a Cervantes Institute center in the city of Los Angeles. The presence of the official center for the dissemination of Spanish is limited in the US – it has centers in New York, Chicago and Albuquerque, as well as a classroom in Seattle and the Spanish observatory at Harvard – and that is why Sánchez announced, on his previous visit, in 2018, the start of the procedures for the inauguration of a new headquarters. The Executive, in its royal decree of July 13, authorizes the creation of a new center whose opening, installation and operating expenses will be covered by Cervantes, assigned in the State Budget law of 2021 and amount to 1.158.740 euros.

In LA, the president will visit NASA and meet with major production companies at Universal’s studios. The Government wants to offer Spain as an audiovisual hub


The Executive seeks that the LA headquarters become a powerful beacon, in the “house of the hispanic“, in the reference of Spanish for America. Right now, according to government data, there are 43 million native speakers of Spanish, plus 11.6 million bilinguals and another 16 million with more limited knowledge of the language. 2060 The United States is the second country in number of Spanish speakers in the world, only behind Mexico. The socialist leader will be the ‘keynote speaker’, but the director of Cervantes will also participate, Luis Garcia Montero; the rector of UCLA and academic Barbara Fuchs, to whom the center has just awarded the Ñ Prize, which will be presented by the King in October. García Montero will extend to Fuchs on Thursday 22 the diploma certifying the award.

Landing in San Francisco, the last stage of the tour, will be on Thursday evening, but the activity will not begin until the morning. Sánchez will later visit the Apple campus in Cupertino, where he will meet with its executive director, Tim Cook -the apple company could announce investments in Spain-, and then it will hold a meeting in Palo Alto first with the CEOs of HP, Intel, PayPal, Qualcomm or Levi’s) and later with a score of ‘venture capitalists‘and Spanish entrepreneurs at HP headquarters. After an interview at Bloomberg Technology, there will be an event with Spanish entrepreneurs and talents in Silicon Valley and, finally, an exclusive dinner-event organized by AmChamSpain with a dozen CEOs of large technology companies (Zoom, YouTube …). The president will not meet executives from other tech giants, such as Google or Amazon, because time is “limited” and not all great executives are on the West Coast.

Apple CEO Tim Cook shows the iPhone 12 Pro at the company’s headquarters in Cupertino, California, USA, on October 13, 2020. APPLE

“Mobilize private capital”

As in other trips, Sánchez will fly in his Airbus accompanied by businessmen. In this case, with representatives of five startups: Red Points (Laura Urquizu), RatedPower (Andrea Barber), Adara Ventures (Alberto Gómez), Wallbox (Enric Asunción) and Carto (Javier de la Torre).

In San Francisco, the Chief Executive will visit Apple headquarters and meet with entrepreneurs and technology companies


In Moncloa they emphasize that the agenda, intense – and for now without press conferences with journalists who fly to the US and who will travel with him in the intermediate jumps to Los Angeles and San Francisco – is “quite powerful“As it is configured. But the fact that there are no political meetings with the Biden Administration draws a tour of a very different character, which cannot overcome the fiasco of the very brief contact that Sánchez had with the American president at the NATO summit in Brussels, last June 14. However, Maroto yes it will dispatch with the two members of the Democratic Government mentioned, Gina Raimondo and Katherine Tai.

The President of the Government, Pedro Sánchez, and the President of the United States, Joe Biden, during the NATO summit in Brussels, on June 14. EFE

Sánchez’s meetings will basically be with the private sector. In Moncloa they emphasize that no tax incentives will be announced to attract investment. The socialist leader directs a “serious government” that does not come to a meeting and offers “gifts behind the curtains “. Business opportunities, the Executive’s plans for the coming years and the use of European funds will be exposed, abounding.” It is necessary to mobilize private capital, and no one better than the president to count all these companies what are the projects of your Executive “, they affect.

The one that starts this Tuesday will be Sánchez’s first exit outside of Spain after the remodeling of his Cabinet. At the beginning of the month, he traveled to Estonia, Latvia and Lithuania, on a much more political trip, in which he offered aid to the Baltic countries in exchange for their support on the southern front. On that occasion, he flew without businessmen and without members of his Executive. Now Entrepreneurs and Maroto will accompany you, but not the new Foreign Minister, José Manuel Albares. Upon your return, the Conference of Presidents awaits you on July 30 in Salamanca. And, by the end of August, a new tour of Africa. In principle, for Egypt and Kenya, but the details are still being prepared.

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