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I European Recovery Funds Industry Forum

Last Friday 12th March, the I Industrial Forum on European Recovery Funds was held. The event was organised by Asime with the sponsorship of ABANCA and Lidera Knowledge and it was held in a mixed format with 50 participants in person at Palexco and 150 attendees virtually.

Thanks to this event, the main representatives of public administrations, entities and leading companies in the industrial sector met with the aim of mobilising Galician industry to attract European recovery funds. It also highlighted the need to attract investment in large-scale projects and transformation.

We have a historic opportunity before us with the Next Generation EU funds, we cannot let these investments pass by our sector, we have to be mobilised with important projects together with the companies, and that is what we have been working on for month at Asime. We have strengthened our projects department and mobilised more than 100 companies in various initiatives and projects” – Justo Sierra, President of Asime.

Opening of the forum

During the opening, the different representatives of the local, regional and state administrations explained the keys of the European funds as a path to recovery.

In this recovery process, companies will play a key role. Public-private collaboration will be essential and we are facing an unprecedented moment, which could make a new industrial revolution possible. Today’s event will be a first step on the path of hope that the Next Generation EU funds are tracing” – Rebeca Acebrón, Vice-President of Asime and CEO Acebron Group.

Points were highlighted such as the need for strategic planning to convert the economic injection that the European Funds are going to have into an economic opportunity to consolidate Galician business and industry in the future and continue to grow. The need for “close and loyal” collaboration between all social and economic agents in order to achieve collective growth was also highlighted. In this sense, ABANCA announced the creation of the Next Generation ABANCA area, with the aim of facilitating access to information, helping in the identification or selection of projects, advising with grants and providing short and long term financing to start up the different recovery projects.

Action plan and advice

During the round table discussion, moderated by the Vice-President of Asime, Rafael Outeiral, the importance of the 150,000 million euros that are going to arrive in Spain was debated. The importance of being prepared, with projects and objectives set in order to be able to anticipate and not leave room for improvisation was also highlighted. It is an unprecedented amount of money that comes at a crucial time for the country.

We have already submitted an expression of interest for the development of offshore wind here (Galicia), with a 50 megawatt offshore project that we hope will be eligible for Next Generation funding” – Beatriz Mato, Director of Corporate Development, Sustainability and Communication at Greenalia.

Closing and conclusions

The closing ceremony was attended by institutional representatives of the highest level to explain the various lines of financing and their vision of the plan that Galicia should follow.

Juan Carlos Escotet Rodríguez, Chairman of ABANCA highlighted five key points:

  1. Long-term vision.
  2. Working together.
  3. The need to make a joint effort.
  4. Demographics.
  5. The SDGs.

Alberto Núñez Feijóo, President of the Xunta de Galicia, highlighted the importance of promoting the circular economy, the installation of 1,000 megawatts between solar, wind and green hydrogen, sustainable logistics, and the promotion of the automotive and aeronautics sectors, where Galicia has an important niche. Feijoo insisted on the commitment to solid and not politically correct projects.

We are not in a good moment, we need workload in the public sector until frigates 110 arrive, we have to modernise Navantia Ferrol with the dry dock and build a 110 million euro approach vessel for the Navy, while renewing the fishing fleet and working on the stability of private shipyards.

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