Latest news with #AmparoLópezSenovilla
Arab Times
21-05-2025
- Business
- Arab Times
Kuwait-Spain talks focus on economic growth
KUWAIT CITY, May 21: Kuwait Chamber of Commerce and Industry (KCCI) on Tuesday welcomed a highlevel trade delegation from Spain, led by Spanish Secretary for Trade Amparo López Senovilla. Spanish Ambassador to Kuwait Manuel Hernández Gamayo, Undersecretary of the Kuwaiti Ministry of Finance Aseel Al-Munifi and several business leaders in Kuwait and Spain also attended the meeting. At the beginning of the meeting, KCCI expressed appreciation for the visiting delegation; stressing the importance of the visit as part of the Kuwaiti-Spanish Joint Economic Committee meetings. The event marks a continuation of the collaborative efforts to deepen economic ties and explore new avenues of partnership between the two friendly nations. KCCI affirmed the strong and longstanding economic relationship between Kuwait and Spain, indicating that Spain is among Kuwait's major trading partners in the European Union (EU). It added that bilateral trade recently surpassed $1 billion, a testament to the growing commercial exchange between the two countries. Spanish exports to Kuwait include machinery, industrial equipment, ceramics, chemical products, and internationally renowned fashion brands. Recently, the sports sector emerged as a new area of exchange, particularly with the expansion of the Rafael Nadal Tennis Academy to Kuwait -- its first branch outside of Spain. On the investment front, Kuwait's ventures in Spain demonstrate high confidence in Spanish sectors; such as finance, tourism and energy. Spanish engineering firms have also played a critical role in major infrastructure projects in Kuwait, including the Gamal Abdel Nasser Highway and Kuwait International Airport expansion. KCCI emphasized that these achievements reflect mutual trust and serve as a foundation for even greater cooperation. With Kuwait actively pursuing economic diversification and Spain expanding its global reach, the visit offers a strategic opportunity to enhance collaboration in sectors like energy transition, innovation, tourism and logistics. It reiterated its readiness to serve as the main facilitator for these efforts by promoting dialogue, eliminating barriers, and supporting partnerships that generate long-term economic value. Meanwhile, Al-Munifi urged investors from both countries to build joint ventures in a wide range of sectors; including transportation, construction, healthcare and technology. She pointed out the active presence of Spanish companies in Kuwait and confirmed the commitment of the Finance Ministry to support them and address any challenges they might face. Senovilla commended the excellent bilateral relations, emphasizing Spain's strategic geographic position as a gateway to European markets. She called for further trade cooperation; particularly in the fields of healthcare, building materials, transportation and education. Gamayo echoed these sentiments, praising the historical friendship between the two countries and reaffirming Spain's commitment to advancing bilateral relations. Jaime Montalvo, Director of International Affairs at the Spanish Chamber of Commerce, affirmed the role of the Joint Economic Committee in fostering deeper collaboration. He said Spain is focusing on the development of small and medium enterprises (SMEs) as a vital area for joint growth.
Morocco World
07-05-2025
- Business
- Morocco World
Spain Commits €340 Million to Casablanca Desalination Plant
Doha – Spain has announced a financial commitment of €340 million (approximately MAD 3.65 billion) for the construction of Africa's largest desalination plant in Casablanca. The funding agreement was formalized on Wednesday during an official ceremony attended by Spain's Secretary of State for Trade, Amparo López Senovilla, and Morocco's Minister of Economy and Finance, Nadia Fettah Alaoui. The event also gathered Tarik Hamane, Director General of Morocco's National Office of Electricity and Drinking Water (ONEE), Spain's Ambassador to Rabat, Enrique Ojeda Vila, along with several representatives from the bilateral business community. 'This project not only responds to a vital need, but also symbolizes the excellence of economic relations between Spain and Morocco, based on trust and business cooperation,' stated López Senovilla during the ceremony. The massive project, led by a consortium including Spanish firm Acciona alongside Moroccan companies Green of Africa and Afriquia Gaz, will have a production capacity of 838,000 cubic meters per day, equivalent to 300 million cubic meters annually. This facility aims to provide sustainable water access to approximately 7.5 million people in the Casablanca region. The Spanish financial support comprises three main instruments. First, a €250 million loan from the Fund for Business Internationalization (FIEM) will cover the design, construction, and operation of the infrastructure. Second, an 80% coverage guarantee through the Spanish Export Credit Insurance Company (CESCE) backs a €70 million secondary financing component provided by Société Générale. Third, €31 million from the Foreign Investment Fund (FIEX), managed by COFIDES, will support Acciona's equity participation in the project. During the ceremony, Secretary López Senovilla stated that the project combines resource management, innovation, and energy transition, noting that the facility will be powered by renewable energy sources. Minister Fettah Alaoui described the plant as 'one of the most emblematic achievements of the national sustainable water management strategy,' which aims to mobilize 1.7 billion cubic meters of drinking water by 2030 through approximately twenty similar installations, compared to 320 million cubic meters currently available. The desalination plant is being constructed in the Lamharza Essahel commune in El Jadida province. The project has currently reached 20% completion, with the first phase scheduled for delivery in February 2027, providing 548,000 cubic meters daily. A second phase, planned for August 2028, will increase the total capacity to over 800,000 cubic meters per day. The project will operate under a 30-year public-private partnership model, including three years for construction and 27 years for operation and maintenance. The facility will incorporate cutting-edge desalination technology and sustainable energy systems. This infrastructure project demonstrates the strong economic relationship between Morocco and Spain. Currently, Spain stands as Morocco's primary trading partner, with bilateral exchanges exceeding €22.5 billion and a trade surplus of over €3 billion in Spain's favor. More than 350 Spanish companies operate in Morocco across various sectors including infrastructure, energy, banking, and automotive industries, contributing to job creation and economic growth in both countries. In 2024, Spanish exports to Morocco increased by approximately 6%, showing the strategic importance of the Moroccan market for Spain's economy. Read also: Spain Intends to Replicate Morocco's Successful Drought-Fighting Strategies
Morocco World
30-04-2025
- Business
- Morocco World
Morocco Spotlights Investment Opportunities at ‘Morocco Now' Conference in Madrid
Rabat – Morocco showcased its economic strengths and investment opportunities during the 'Morocco Now' conference held on Tuesday in Madrid. The event, held under the theme 'Investing Together for a Sustainable and Shared Future,' brought together major economic players from both Morocco and Spain. The conference aimed to promote Morocco as a reliable and attractive destination for foreign investments, especially for European partners. Drawing over 150 companies, it was organized by Morocco's Ministry of Investment, Convergence and Evaluation of Public Policies, in collaboration with the Moroccan Agency for Investment and Export Development (AMDIE). During the event, the Moroccan delegation recalled the country's recent economic reforms, high-potential industries, and concrete projects available for mutually beneficial partnerships. Spain's Secretary of State for Trade, Amparo López Senovilla, spoke of the strategic importance of the Morocco-Spain relationship. 'Our historical ties and strategic geographical locations bring both sides of the Mediterranean closer,' she said, MAP news agency reported. She also pointed to the 12th high-level meeting between Morocco and Spain, held in Rabat in February 2023, which laid out a roadmap for deeper cooperation in key sectors such as economy and sustainability. Morocco's Ambassador to Spain, Karima Benyaich, described Morocco as a promising platform for Spanish businesses. She commended the country's ambitious strategic vision, favorable business climate, and growing partnership with Spain. Meanwhile, Karim Zidane, Morocco's Minister Delegate in charge of Investment, urged Spanish companies to explore the many investment opportunities available in Morocco, especially in key sectors like aerospace, renewable energy, automotive, and electronics. He noted Morocco's world-class infrastructure, skilled young workforce, and strategic location as reasons for its growing attractiveness to foreign investors. Ali Seddiki, Director General of AMDIE, also spoke of Morocco's position as a leading hub for investment and exports in the region. He said the conference in Madrid aims to encourage more Spanish businesses to invest in Morocco. Moroccan and Spanish officials have continuously vowed to strengthen cooperation in many sectors and encourage investment in both countries, especially after Madrid officially endorsed Morocco's sovereignty over the Western Sahara.
