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Malaga province attracted 134 million euros in foreign investment in 2023, an increase of 37% compared to the 85 million registered in 2022. These are figures from the 'VII business climate barometer: Foreign investment in Malaga 2024', prepared by the Ciedes Foundation. With the progress made, the province is now second in Andalucía after Seville in terms of gross foreign investment flows, attracting 22.86% of all foreign investment coming into the region.
That said, if we focus on the 'stock', on accumulated investment, Malaga takes first place in the region's ranking. The province accounts for 29.5% of the total foreign capital invested in Andalucía, with a figure of 3.09 billion euros at the end of 2022.
This is another of the results cited in the Ciedes Foundation annual report on foreign investment. The report is published in conjunction with Promálaga and the Málaga open for business investor office (the latter being part of the innovation, digitalisation and investment attraction department within Malaga city council). The document also includes figures on general business confidence. In this regard it reveals that 84% of foreign companies positively value the financing conditions offered by the city, while 80% highlight security as a determining factor. These factors may help to explain why, despite the current context of global economic slowdown, 40% of foreign companies operating in Malaga recorded growth in their investments this year and 33% also indicated that their turnover figures are on the rise.
These figures contrast with those of national companies: 54% reflect increases in turnover and 45% in investment.
In any case, the report was presented on Tuesday this week at an event attended by Malaga's mayor Francisco de la Torre, the councillor for innovation, digitalisation and investment Alicia Izquierdo, and the Junta's delegate in the area on economic matters Antonio García. One conclusion in the report is that Malaga maintains its attractiveness as a destination for foreign investment thanks to a favourable business environment, modern infrastructure and its quality of life.
However, in order to consolidate Malaga's position as a strategic destination for inbound foreign investment, companies and institutions agree on the need to implement measures such as improving the supply of housing and office space, more competitive taxation, a robust legal security framework and the simplification of administrative procedures, as well as the expansion of language education and the improvement of transport links between Malaga and the metropolitan area surrounding the city.
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