Catalonia seeks to reaffirm itself as a pool of Japanese investment

MadridCatalonia is eager to turn the page on the trauma of Nissan's departure from the Zona Franca (Free Trade Zone), or at least that's the feeling among business circles with ties to Japan. The Principality continues to lead the state in attracting Japanese investment and companies—although official data is inconsistent, the business community estimates that it accounts for 60% of that investment—but the Generalitat (Catalan government) wants to increase this. Therefore, high-level contacts are planned before President Salvador Illa's official trip to Osaka, between May 27 and June 1, as part of the Osaka 2025 Universal Expo.

To begin with, and according to ARA, he has a presence in Catalonia, as well as with the Japan-Spain Business Circle (CEJE), on April 7 in Barcelona. Furthermore, according to business sources, Sámper himself plans to travel to Japan a week before Salvador Illa's visit in May.

And what is Catalonia looking for? Not only for these companies already operating in the Principality to maintain and expand their operations, but also for new investments to arrive. "A Japanese person always attracts another Japanese person," the same sources indicate. The latest notable arrival in Catalonia has been that of the Japanese fashion brand Onitsuka Tiger, which has just opened a store on Passeig de Gràcia, its first in Spain. Less than a year ago, Sony announced the installation of its second artificial intelligence (AI) development center in Europe in Barcelona.

"We have to forget about the idea of factories arriving like the ones before," notes a senior executive of an automotive company, who highlights, precisely, how Barcelona is positioning itself in the fields of AI, technology, and innovation and design (R&D). In statements to ARA, Japanese diplomatic sources agree with this view and highlight, for example, the fact that Catalonia has the Barcelona Supercomputing Center.

Competition with China

The public perception, explains the Japan-Spain Business Circle (CEJE), is that there is "no" Japanese presence in Spain, nor in Catalonia, but that when thinking about Asian investment, the focus is only on China. Between 2010 and 2023, Japan invested €9.2 billion in Spain, 30% more than China, according to this organization. In fact, Sàmper is in China this week to promote Catalonia as an investment destination. In the case of Catalonia, this country accounted for 7% of foreign investment in 2024, according to data from Acció.

"There is a disruption between reality and what is happening," notes Jorge Lasheras, president of this organization. CEJE believes that one of the factors that explain this "pessimistic perception" is, precisely, the closure of Nissan in 2020, and they recognize that, despite the arrival of new investments and companies, "The [economic] hole left by [the car manufacturer] has not been compensated"[Investments] have been overshadowed by that," the organization points out in a report on the Japanese business climate in the State published this Wednesday. Business sources also link it to a communicative idiosyncrasy. did you know."

In 2023 alone, gross investment in capital and equity was 460.38 million euros across the State as a whole, according to the latest data available from the Ministry of Economy. NA~ According to ACCIÓ, in the last five years (2020-2024), Japan has invested 700 million euros in Catalonia, which has led to the creation of 3,000 jobs, making it the seventh country in the world that has invested the most in the country. The three main sectors in which Japan is investing in the State are the chemical and pharmaceutical industry, the automotive industry, and finally, the electrical energy industry and renewable energy. In Catalonia, ICT and investment in machinery also stand out.

Overall, in 2024, there were a total of 390 Japanese companies with corporate headquarters in Spain, and in Catalonia, 230 were recorded in 2022 (the latest year with available data).