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Mariano Rajoy, junto al vicepresidente de Volkswagen, Francisco Javier García Sanz.

On the occasion of the inauguration of the Barcelona International Motor Show prime Minister Mariano Rajoy announced that the Volkswagen Group will invest 4.2 billion euros in the country, "probably the largest industrial investment ever made in Spain".

At a lunch with executives from leading car manufacturers on the occasion of the 38th Barcelona International Motor Show, the President of the Government highlighted the contribution made by this sector to the Spanish economy.

Spain is the leading European manufacturer of industrial vehicles, the second-leading manufacturer of passenger vehicles in the European Union and the ninth worldwide.

Mariano Rajoy added that the sector is a "prime indicator" of the strength of the economy and is presently showing "the sustained reactivation of our entire industrial sector, and hence of the national economy as a whole".

The President of the Government pointed out that in the first quarter of the year, the production of vehicles exceeded 714,000 units – 15.5% up on last year – and exports have grown by 12.3%. Moreover, car registrations have now recorded eight straight quarters of growth.

Rajoy underlined that these positive figures translate into the creation of quality jobs – "the main national goal" – and in the last 12 months, unemployment has fallen in the industrial sector by some 45,700 people, the number of people in work has increased by 142,500, and that almost 10% of the fall in unemployment in the month of April came from the industrial sector.

He thanked the representatives from the automobile sector for having supported the Spanish economy during the crisis through their investments, "when very few people were committing to us".

The PM then announced that the Volkswagen Group, whose Global Vice-President met with him at Moncloa Palace on Thursday, will invest 4.2 billion euros in our country, "probably the largest industrial investment ever made in Spain".

This investment will be made between now and 2019 and will be allocated to equipment, facilities and R&D at the SEAT factories in Martorell (Barcelona) and the Volkswagen factories in Navarre.

"This ambitious project not only guarantees the future of these globally cutting-edge factories, but it also represents an unprecedented endorsement of the leadership of the Spanish automotive-supply industry, where this investment will have a major impact in terms of both activity and employment", he pointed out.

Filed under: http://www.theleader.info/article/47380/

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