As fund manager for FIEX and FONPYME, COFIDES provides cost-effective medium and long-term financial support for viable private direct investment projects in foreign countries where there is a Spanish interest. The ultimate aim is to conduct a profitable business that contributes both to host country development and the internationalization of Spanish enterprise and the Spanish economy.
In the first half of the year, seven countries were the geographic target for COFIDES investments - Brazil, Ecuador, Chile, Mexico, Algeria, India and Panama -. It is estimated that the new investments will be significant in terms of the development effects resulting from the creation of more than 1,600 direct jobs. The industry breakdown of operations formalized by COFIDES in the first half of 2010 shows that agribusiness has been the primary target. Energy, capital goods, transport infrastructure, water supply, chemicals and pharmaceuticals, automobile, iron and steel making followed.
In the present context of crisis and financial constraints, COFIDES is even more committed to supporting the internationalization strategies of Spanish enterprise geared to the implementation of foreign investment endeavours. This commitment highlight the strategic importance of the FIEX and FONPYME funds as financing instruments for Spanish investment projects with international ambitions. In addition, COFIDES and the Funds it manages consolidate their utility as economic policy tools to foster the Spanish company competitiveness and to contribute to the host countries development.
