The Minister for Presidency, Economy and Enterprise, Jordi Gallardo, presented the balance of the data on foreign investment and its evolution from 2019 to date. The comparison of the three years was made with the data from both authorized direct investment and real estate investments, in the first semester of each year. The Minister highlighted that the numbers reflected as foreign investment estimated for 2020, that weren´t requested or authorized due to the context of the pandemic, were delayed in time and were finally authorized in 2021.
Minister Gallardo referred to the rising trend over the last few years in the number of applications for foreign investment authorized for foreign companies. In 2019, 276 applications were authorized in the first semester; in 2020 there were 210 applications authorized in the same period and in 2021, 535 authorized applications from January to June.
With regards to the authorized applications for foreign investment in real estate, the minister stated that even though the numbers are not significant, the volume of investment has almost doubled. In terms of direct foreign investment by country, companies coming from Spain have gone from 44% in 2019 to 51% in 2021, those from France, went from 23% in 2019 to 26% in 2021. In terms of the numbers for foreign investment in real estate, authorizations for investments coming from Spain went from 56% in 2019 to 50% in 2021. The ones from France at 20% in 2019 and at 24% in 2021.
By sectors, we must highlight the increase in wealth management firms, services and commercial activities in Andorra or from Andorra to abroad and an opening in sectors dedicated to manufacturing and investigation projects.
Jordi Gallardo conclude by assessing positively the evolution of the data, and signaling that the strategy in diversification, attracting and unblocking being carried out is resulting in a notable rise in foreign investment.
Text: Govern d’Andorra