The minister of Economy, Finance, and Employment of the Madrid region, Rocío Albert López-Ibor, accompanied by Luis Socías Uribe, director General of Invest in Madrid, undertook a six-day institutional visit to Argentina with the goal of attracting business projects and strengthening commercial relations with the South American country.
During their economic mission, they met with Argentine investors and entrepreneurs to present the strengths of Madrid’s economy, the driving force of Spain, contributing 19.6% of the national GDP.
Their agenda included:
- A meeting with the Spanish Ambassador to Argentina, Joaquín de Arístegui Laborde.
- A meeting with Hernán Lombardi, Minister of Economic Development of the Autonomous City of Buenos Aires, during which they shared experiences on deregulation and open-market policies, aiming to facilitate investment attraction in both territories.
- Hosting the Madrid Investment Forum with support from CECRA—the Spanish Chamber of Commerce in Argentina—which brought together prominent businesspeople and investors such as Globant and Assekuransa. The Minister highlighted investment opportunities in the Madrid region, emphasizing the deep historical and cultural ties between the two regions, with over 60,000 Argentinians residing in Madrid. She also presented Madrid as “the natural bridge” between Argentina and the European market, offering top-tier infrastructure, a dynamic business and educational ecosystem, a robust startup network, and “an exceptional quality of life.”
- Signing of a Memorandum of Understanding (MoU) with the Government of the Province of Santa Fe and the Municipality of Rosario, aiming to develop and promote institutional and commercial relations. This agreement will help “strengthen the historical and cultural ties that unite us, through joint initiatives on internationalization and business promotion.” The Madrid region is Argentina’s main investment destination in Spain, receiving nearly 100% of its capital since 2019—over €910 million—mainly in programming and consultancy sectors.
- Visit to Iberia’s space in Buenos Aires and to the city’s International Book Fair, where companies in the publishing sector and Spanish-language authors were prominently featured.
- Visit to the audiovisual production company Torneos, where the Minister and Luis Socías met with CEO Maximiliano Cabrera, Regional Content director Leonardo De Pinto, and Regional Manager Silvina Dell’Occhio. Madrid is home to 35% of Spain’s film productions and 25% of its video game companies, generating €7.4 billion annually and 27,000 jobs. The Argentine production company expressed interest in setting up operations in Madrid.
- Visit to the Innovation Park and meetings with various startups. This tech, educational, and scientific hub includes universities, research centers, and national and international companies, along with 57 startups. The visit was also attended by Nicolás Morzone, Chief of Staff of the Ministry of Economic Development of the City of Buenos Aires, and Ezequiel Mesquita, CEO of the Innovation Park.
- Institutional meeting with Dr. Federico Sturzenegger, Argentina’s Minister of Deregulation and State Transformation. The Minister shared Madrid’s efforts to reduce bureaucracy, highlighting initiatives against overregulation, the absence of regional taxes, and the Open Market Law.
- Participation in the annual Libertad Foundation event, which gathered more than 1,000 institutional and business representatives, including former Presidents of Argentina and Uruguay, Mauricio Macri and Julio Sanguinetti respectively, Álvaro Vargas Llosa, and various national ministers.
The Madrid region generates 20% of Spain’s national GDP and leads in attracting foreign direct investment, capturing 67.1% of the total in 2024—nearly €25 billion.