Sánchez will travel to Dubai in search of the financial support of Sovereign Funds Sánchez will travel to Dubai in search of the financial support of Sovereign Funds

The President of the Government, Pedro Sánchez, will travel to Dubai on February 2 accompanied by the Minister of Industry, Commerce and Tourism, Reyes Maroto and the Minister of Foreign Affairs, José Manuel Albares.They will visit, on the occasion of Spain's Day, Expodubái, the universal exhibition held in Emirates Arab.In addition to going to the exhibition, the institutional expedition aims to capture the interest of sovereign funds.Known sources from the Moncloa agenda explain that the president will meet with those responsible for several funds to obtain financing for the strategic investments that the Government wants to undertake in the coming years.

Specifically, Sánchez will seek financial support to carry out projects that facilitate the ecological transition of Spain.Green and digital investments are on the government agenda and are part of the recovery, transformation and resilience plan that will be financed with European funds Next Generation-EU.However, sovereign funds can accelerate the arrival of resources and, consequently, the projects that facilitate the country to be greener and more digital in the coming years.In fact, in recent years, some sovereign funds from the MiddleBasque company of wind towers Haizea.

Between January 2019 and September 2020, the sovereign funds made investments worth 1.300 million euros in our country, according to a report published by ICEX and IE Business School.In addition, the election of the region by the Government is not accidental, only in the city of Dubai three of the thirty larger funds in the world are located for assets managed, according to the same report.The fund number is doubled if those based in Abu Dhabi, about 130 kilometers from Dubai.Nor is it casual that the government seeks financing for projects that facilitate the energy transition and that the pavilion that represents Spain in the exhibition is located in the area related to sustainability.

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In addition to these meetings, a business meeting will take place, organized by the Institute of Foreign Trade (ICEX) together with the Chamber of Commerce of Spain and the CEOE.This event is expected to attend the president and the ministers, together with Emirati businessmen and personalities, but the King, Felipe VI, who will not travel to the Expo.The objective is to strengthen commercial relations between Spain and the United Arab Emirates (EAU).According to ICEX data, Spanish exports amounted to 1.509 million euros in 2020.Imports were 300 million.More than a hundred Spanish companies host in Emirates and many of them have a relevant role in universal exhibition.Without going any further, Actiona has been in charge of developing the Dubai Metro, with a stop at the exhibition.

The same day, on February 2, a gala dinner organized by the Spanish Business Council, the Chamber of Commerce of Spain in Dubai will be held.Action, CaixaBank, Indra and LaLig.The organizers foresee that the Government's representation attends, as well as CEOs and senior managers of Spanish companies together with Emirati authorities.

Expodubái

Dubai's universal exhibition should be held in 2020, but the pandemic forced to delay its implementation.Opened in October 2021 will last until March 31, 2022.With a maximum capacity of three million visitors, he hopes to achieve 25 million.However, restrictions still in force in some countries, as well as the incidence of omicron are causing the figures to be somewhat lower than expected.At the end of December, more than 7 million people had visited the exhibition.

The Pavilion of Spain occupies almost 6.000 square meters under the slogan intelligence for life.Offers visitors an exhibition space, a conical square and works by Daniel Canogar or Nacho Vigalondo.The pavilion welcomes two complementary thematic exhibition areas: flashes, which shows some Spanish contributions to universal culture and enhance the cultural relationship with the Arab world;and the Intelligence Forest, which will teach various innovative Spanish contributions of how Spain adds to the 2030 Agenda for Sustainable Development.