Tecniberia, the Spanish Association of Engineering, Consultancy and Technological Services Companies, and COFIDES will work together with the purpose of improving the foreign investment of Spanish companies belonging to the engineering sector.

For this purpose, they have signed an agreement by which both institutions decide to cooperate to give a boost to the establishment of engineering companies abroad. The different financial instruments and lines managed by COFIDES, especially the FIEX and FONPYME funds, will be particularly relevant for this task. The possibility of a transfer of EU funds for development cooperation will also be stressed, since COFIDES is an authorised institution for blending operations. In addition to this, COFIDES will actively inform of the support possibilities which TECNIBERIA can offer for the internationalisation of these companies.

All in all, the goal is for COFIDES and TECNIBERIA to cooperate in order to increase the probabilities of success of the foreign investment projects promoted by companies belonging to the engineering sector, and especially of those projects promoted by small and medium-sized companies.

PROMOTERS OF THE FINING LINE

COFIDES chairman, Salvador Marín, stated that "with this agreement we will further strengthen the relationship between both entities, a relationship which is proving to be very effective in promoting the internationalisation of those companies belonging to the engineering sector." Regarding this matter, he also said that "we had worked together to develop FINING, the financial line which was specifically created to support the activity of engineering companies abroad, meeting the real needs of said companies, just as Tecniberia suggested".

In that regard he explained that since the implementation of FINING, COFIDES has multiplied its support for engineering projects, because "while COFIDES had supported 2 projects before, it has supported 29 foreign investment projects since the creation of FINING, most of them from small and medium-sized companies".

The Association believes that, given the advantages it offers, many more companies can make use of this financial line and, therefore, the signing of this agreement is a window of opportunity to properly explain its possibilities and make the most of the flexibility it offers to establish the definitive terms regarding instalments, interest rates, etc.

Tecniberia chairman, Juan Lema, stated that "the main purpose of this agreement is to cooperate in the supporting actions for the internationalisation of the companies belonging to this sector and in the promotion of a culture which favours strategic alliances and international business cooperation".

TECNIBERIA, the Spanish Association of Engineering, Consultancy and Technological Services Companies, www.tecniberia.es, is a national non-profit association which comprises 105 companies from the aforementioned sectors. In addition to this, the Association represents the interests of its members before organizations, institutions and centres, both public and private, and also acts as an interlocutor in the area of employment relationships in order to defend and promote the economic and social interests of its activity sectors.

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