Rafael Del Pino, Chairman of Ferrovial, has explained that "the internationalization of Spanish companies is of key importance to the Spanish economy since it allows for diversification, reduced country risk, expansion of markets, increased volumes, as well as greater efficiency, being more competitive and with an enhanced reputation". He made these comments at a CEDE breakfast meeting (Spanish Conference of Directors and Executives) to which he was invited yesterday, Thursday April 7th.
Del Pino underlined the internationalization of business as one of the most significant changes in the Spanish economy. "To look for business abroad, it is necessary to be competitive. The Spanish economy has suffered a loss of competitiveness in recent years due to increased labor costs, an inability to use exchange rate devaluation and the slow progress in productivity."
"The reforms undertaken should enhance our productivity and competitiveness, which in turn should lead to greater opportunities to compete internationally. Human, technical, economic, legal and regulatory resources are all required, he added.
For the Chairman of Ferrovial, Spain is one of the most dynamic economies in the European Union in terms of investment and has some very large companies compared to the size of its economy.
Del Pino went on to focus his presentation on the particular achievements and characteristics of Ferrovials own international expansion. "The Company has evolved from being a Spanish construction company to become a global infrastructure and services company and is now a pioneer in the internationalization of the infrastructure business in Spain."
Since being founded in 1952, Ferrovial has sought to grow and diversify. The companys first railway project in 1954 in Venezuela, the Puerto Cabello-Barquisimeto railway, as well as construction of 700 km of roads in Libya in 1978, reflect that its international expansion has never stopped growing.
Currently, Ferrovial is one of the leading global infrastructure groups, acting through its Airports, Toll Roads, Construction and Services divisions. The company has some of the leading private transport assets in the world such as the 407-ETR in Toronto, Heathrow Airport in London, in addition to other highways such as Chicago Skyway and Ausol in Spain. Ferrovial also forms part of the prestigious DJSI and FTSE4Good sustainability indexes and is evolving as a more innovative, greener and more socially-committed company.
As the conference drew to close, matters such as security measures for SMEs, the incorporation of women in the business, measures to incentivize greater internationalization and the potential of China, among others were discussed.