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32 Catalan companies opened a new subsidiary abroad in 2023 with Government support

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32 Catalan companies opened a new subsidiary abroad in 2023 with Government support

  1. The United States is the main recipient of the projects promoted by the Government’s first call for applications for multi-location grants, ahead of Mexico and the United Kingdom
  2. The most common sectors in which these companies operate are ICT, the automotive industry, electrical materials and equipment manufacturing, and the food industry
  3. More than 3,000 Catalan parent companies are established abroad with a presence that exceeds 8,300 subsidiaries

A total of 32 Catalan companies completed the opening or acquisition of a subsidiary in 2023 with the support of the Government of Catalonia. This was announced on Thursday by the Minister for Business and Labour, Roger Torrent i Ramió, during a working session with a group of Catalan companies with a presence in the United States.

The meeting was also attended by the Secretary for Business and Competitiveness and CEO of ACCIÓ, Albert Castellanos i Maduell, as well as by the US Consul General in Barcelona, Katie Stana, and the Commercial Counselor of the United States Embassy in Madrid, John Coronado.

Indeed, the United States is the primary destination for these overseas projects (with a total of 6), followed by Mexico (4) and the United Kingdom (3). Other destinations where Catalan companies established themselves last year were South Korea, France, Italy, Peru, and China. By sector, the majority of the Catalan projects established abroad involve ICT, the automotive industry, electrical materials and equipment manufacturing, and the food industry.

During the meeting with Catalan companies with a presence in the United States, Minister Torrent stressed that “the United States is undergoing a process of digital and sustainable reindustrialisation that we share”. For this reason, he added, “it is no coincidence that most projects have chosen this North American country”. In this respect, he added, “events like today’s, where we bring Catalan companies closer to the reality and opportunities of this market, allow us to continue strengthening the bond with the United States with the aim of consolidating and expanding the presence of Catalan companies there”.

The first call for applications for the multi-location subsidies took place in 2023 with the aim of facilitating the establishment of Catalan companies in any country in the world through the creation or acquisition of subsidiaries. In total, 32 companies have received funds to cover 50% of the investment for a maximum amount of 30,000 euros per project. These funds have been allocated to items such as personnel, rental of office space or the hiring of consultants or auditors.

The Secretary for Business and Competitiveness and CEO of ACCIÓ, for his part, remarked that “in a context of fragmentation of international trade and reconfiguration of global value chains, it is key that companies have a presence in the markets to be closer to customers and suppliers”. In this respect, he added, “it is important to promote and facilitate their establishment abroad”.

In addition to financial assistance, the Government also supports the overseas establishment process through resolving queries from the Office on Internationalisation Barriers, providing training and skills building within the “Overcoming Barriers” programme, and through the support of the 40 Foreign Trade and Investment Offices, which cover over 100 international markets.

More than 3,000 Catalan companies with subsidiaries abroad

According to data from the latest report ‘Directory of Companies in Catalonia with subsidiaries abroad’, compiled by the Government of Catalonia, there are more than 3,000 Catalan parent companies established abroad, with a presence of over 8,300 subsidiaries. Portugal, the United States and Mexico are the countries with the highest concentration of Catalan subsidiaries.

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