Spanish investments to Romania reached EUR 1 billion last year, a growth of EUR 342 million compared to the year before, despite the crisis which affected both Romania and Spain, according to Eduardo Prieto Kessler, economic counselor for the Spanish Embassy to Bucharest.

The value of Spanish investments to Romania grew eight fold since 2004. The 1 million Romanians working in Spain played a major role in that, as it increased the contact between the two countries, said Kessler. There are more than 4,000 companies with Spanish majority shareholders in Romania, three times as many as in 2004, making Spain the seventh largest country of origin for investments in Romania.

The biggest Spanish investment announced last year was that of Iberdrola Renovables, which will build 50 wind parks in Romania, with some EUR 2 billion, until 2017. Besides the energy field, the constructions, the car industry, the food industry and the services sectors are also attractive for Spanish investors in Romania.

The value of trade between Spain and Romania was of EUR 1.9 billion in 2010. Romania exported to Spain products and services of around EUR 1 billion, according to the Spanish Embassy.

editor@romania-insider.com