Sunday, 19 May 2024
BusinessSumar proposes to Congress to transform SEPI into a Public Industrial Agency...

Sumar proposes to Congress to transform SEPI into a Public Industrial Agency that does not depend on the Treasury

Sumar has registered an initiative in Congress to transform the State Society of Industrial Participations (SEPI) into a Public Industrial Agency that depends on the Ministry of Industry and not the Ministry of Finance.

This is a non-legal proposition that aims to reinforce the presence of the State in its strategic companies, since currently Spanish state companies represent, taking their market value as a reference, 5% of GDP, compared to 13%. from France or 12% from Sweden or Finland.

To reverse this situation, the training sees it necessary to commit to the transformation of SEPI into a new agency of strategic companies that contribute to the structural transformation of the Spanish production model.

That the industry reaches 20% of GDP

With this new entity, Yolanda Díaz’s people want the industry to contribute 20% of Spain’s GDP in the next decade, thus meeting the objectives established by the European Commission.

Sumar argues that with an appropriate industrial policy, Spain can offer strategic industries with high added value energy-related advantages, such as guaranteed supply or its potential for the production of renewable energy at a reduced price.

“This competitive strategy will mean the definitive abandonment of past, failed attempts to compete through salary devaluations,” the training adds in its proposal, collected by Europa Press.

Coordinate the Pertes and incorporate the SEPI companies

Likewise, the agency would make it possible to coordinate actions related to the Strategic Projects for Economic Recovery and Transformation (Perte) and incorporate public companies of an industrial nature into its portfolio, and especially those that now depend on the SEPI.

The idea is that the entity implements specific plans for each of the public sector companies, to contribute to generating quality public and private employment related to innovation, and to reduce territorial imbalances with respect to the areas of the State with the greatest investment deficits. in strategic industries such as naval or aerospace.

Sumar suggests that the agency be formed as a public body as provided for in the Law on the Legal Regime of the Public Sector, and that it has public legal personality, its own assets and treasury, as well as functional and management autonomy and full legal capacity and capacity to act. for the fulfillment of its purposes.

Intervention of strategic companies

On the other hand, the entity proposed by Sumar would be the State’s instrument for public participation in the social capital of strategic companies when there are threats to strategic industrial autonomy.

In fact, the training proposes incorporating this principle of industrial strategic autonomy as a guide in industrial policy decisions, in a structural way and not only in response to particular cases or current situations.

The plurinational group also includes a point to modify the decree on foreign investments to protect Spanish companies from unwanted actions, which undermine this principle of strategic autonomy. Above all, says Sumar in reference to the case of the Saudi STC with Telefónica or the Emirati Taqa with Naturgy, when the country of origin of the investments does not comply with the principles of respect for freedoms and democracy.

Investment bank in strategic companies

The Industrial Agency would maintain a governance model adapted to the “plurinational reality of Spain”, ensuring the active participation of the autonomous communities, and participatory, so that it has the presence of the most representative business organizations and unions in the country.

Finally, Sumar proposes creating the Investment Bank for the New Economy to promote national public investment in strategic companies in Spain and improve the efficiency of the state public financial architecture.

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