Launch meeting of the financial Commission of the Chamber in Luxembourg

Last 6th June, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized the launch meeting of the Financial Commission in the offices of EY in Luxembourg.

Twenty partner companies from the Chamber participated in the meeting with activity related to the financial sector.

With this working group, the Chamber aims to create a space for opinion and debate on economic and financial issues where professionals working in companies related to the provision of financial services, can share experiences, establish collaborations and exchange information about the sector trends.

During the meeting, the objectives of the Commission were discussed, as well as the internal functioning and the proposal of events.

In the coming weeks, the Chamber will present a project of activities and the Commission’s strategy in the medium term.

The Chamber launches a new newsletter focused on the Luxembourg market

The Chamber has decided to launch a new newsletter focused exclusively on the Luxembourg market.

Until now, the Chamber has prepared a joint newsletter for Belgium and Luxembourg twice monthly.

The objectives that we pursue with this new publication are:

  • Transferring news and more detailed information on business opportunities and economic relations between Spain and Luxembourg to our members and contacts in Luxembourg.
  • Positioning the newsletter of the Delegation of Luxembourg as a business networking tool better oriented to our subscribers in the Grand Duchy.

The newsletter will be sent twice a month in two versions (Spanish and English), and will include the following sections:

  • News & Events:
    • of the Chamber in Luxembourg.
    • of our members in Luxembourg.
    • of Luxembourgish collaborators and institutions.
  • Spain in Luxembourg
  • Get to know our members. A space dedicated to make the activity of our members in Luxembourg known through interviews.
  • Programs: Emprendebelux, Empleobelux, etc
  • Cultural collaborations in Luxembourg.

If you wish to start receiving the newsletter of the Delegation of Luxembourg, send an email to luxemburgo@e-camara.com

 

31/01 New Year’s Cocktail in Luxembourg

On the 31st January, the Official Spanish Chamber of Commerce in Belgium and Luxembourg celebrated the New Year’s Cocktail in Luxembourg. The event counted mainly with the presence of numerous members, representatives of European institutions and contacts of other bilateral Chambers in the Grand Duchy.

José Luis Rodríguez Álvarez, Vicepresident of the Chamber, thanked the attendees for their participation and listed the upcoming events and activities scheduled for 2019. During his speech, he highlighted two new initiatives of the Chamber, the programs EmprendeBelux and Spain Means Innovation.

The event took place at the Meliá hotel and it was attended by more than 50 attendees.

The Chamber appreciates the collaboration of Bodega SalfersoWine in the organization of the event.

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Meeting of the Board of Directors

On December 17, the Board of Directors of the Chamber met at the Cercle Munster in Luxembourg.

The meeting was attended by the Ambassador of Spain in Luxembourg, Bernardo de Sicart Escoda, and the Economic and Commercial Counselor, Maria Palanca Reh.

During the meeting the program of activities planned in Luxembourg for the year 2019 was discussed and the corresponding budget was presented.

 

Luncheon-debate with Emma Navarro, Vice President of the European Investment Bank

On 17 December, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized in Luxembourg a luncheon-debate with Emma Navarro, Vice-President of the European Investment Bank (EIB), under the title of ‘’The role of the EIB facing European challenges’’. The event included the participation of different Spanish company executives and various representatives of public bodies, both Spanish and European. It was the President of the Chamber, Juan Rodríguez Villa-Matons, who introduced Emma Navarro reviewing her relevant professional career and expressing his acknowledgment for her collaboration with the Chamber in the participation of this event.

EIB Vice-President began with a brief presentation of the institution, emphasizing its historical occupation on financing infrastructures and encouraging innovation and competitiveness in Europe, introducing new channels that the Bank is already attending in today’s context. Emma Navarro appeared optimistic, describing a favorable cyclical and conjunctural situation, to then emphasize the political, economic and structural challenges that Europe faces.

Among the challenges, Emma Navarro distinguished the political from the structural ones. Regarding the political scene, she highlighted the growing protectionist tendency in Europe and the Brexit, involving this one a need for Bank funds capital replacement. She also brought to light the escalation of populism as a response to multilateral processes. In relation to structural challenges, the speaker remarked the aging of population, the public debt, the increasingly low productivity and the climate change.

The luncheon-debate continued with the analysis of the structural challenges. Encouraging public debt reduction is an inexorable priority for the EIB regarding both the UE restraints as an international organization such as the lack of scope for fiscal action but also the exchange rate policies implementation. Low productivity is another of the main challenges, although this represents a key opportunity for the EIB to foster investment in infrastructure, digitalization and competitiveness. The convenience of attending to an increase in productivity is double if we consider that in this year only a 75% of the budget prior to the financial crisis has been allocated to this item. The fight against climate change is the last challenge analyzed by Emma Navarro. Currently, the EIB allocates more than 25% of their investments to projects fighting the effect of climate change and has the forecast of reaching 100,000 million dollars in between 2016 and 2020. So much so that the EIB is claimed as the main issuer of green bonds, representing 5% of the total.

The intervention of Emma Navarro ended with a special mention of SMEs, for which the EIB acts as a fundamental actor in terms of financing in addition to other major projects such as Madrid Underground. Following the presentation, there was a round of questions among the attendees.

Héctor Esteban Moreno, CEO of Bankinter Luxembourg, closed the event by highlighting the bank’s special relationship within the industrial sector since its foundation, in 1965. Bankinter is claimed to be the sixth Spanish bank in terms of assets, and the first in profitability. He confesses to be at ease with the guidelines presented by Emma Navarro, not only because about a 30% of their income comes from SMEs but also because Bankinter shares multiple collaboration agreements with the EIB in terms of finance investment and innovation.

The Chamber thanks Bankinter Luxembourg for its collaboration in the organization of the event, and the Bodega Salferso Wine for sponsorship of the wines.

LËTZBIZ INTERNATIONAL: The journeys of international trade

On December 11 and 12,  theChamber of Commerce of Luxembourg and the Europe-Luxembourg Business Network organized the event “LëtzBiz International: the days of international trade“, an international forum with round tables, thematic workshops, exhibitions, pitches and meetings b2fair business organized in collaboration with the bilateral Chambers of Commerce and business clubs in Luxembourg. The conference was attended by the Director General of the Chamber of Commerce of Luxembourg, Carlo Thelen.

The Secretary General of the Chamber, María Catalán, participated in these conferences thanks to the bilateral Chambers of Commerce in Luxembourg, in which experiences and activities were exchanged, in the organization of events and joint activities. Also, the representatives of the bilateral Chambers had the opportunity to meet with numerous local companies and participate in a round table on “Globalization: current and international trade trends“.

 

Meeting of collaborators of the National Day in Luxembourg

On November 27, the Ambassador of Spain in Luxembourg, Mr. Bernardo de Sicart, summoned the entities and companies collaborating with the reception of the National Day at the residence of the Embassy.

The meeting was attended by representatives of the collaborating companies Bankinter, Banca March, Renta4, PwC, Adepa, LaLiga and CAF. The Economic and Commercial Counselor, Ms. Maria Palanca, the Vice President and the General Secretary of the Chamber, Mr. José Luis Rodriguez Álvarez and Ms. María Catalán, respectively, and representatives of the Embassy of Spain in Luxembourg also participated.

The Ambassador wanted to thank the support of the Chamber and the collaborating companies in organizing the reception of the National Holiday in Luxembourg.

III Edition of the Golf Tournament of the Spanish Community in Luxembourg

On June 9th, the Official Spanish Chamber of Commerce in Belgium and Luxembourg collaborated in the third edition of the Golf Tournament of the Spanish Community in Luxembourg, which took place at Kikuoka Country Club. This tournament is organized to benefit the contribution of the Spanish Stand to the social work of the International Bazaar of the Grand Duchy, and was attended by more than 100 people from the Spanish Community of the region, as well as representatives of the Spanish community of Brussels. The contributions of the sponsors, as well as the proceeds from the raffle held during the dinner, will go to the contribution of the Spanish Stand to charity work of the International Bazaar. The initiative, which has the support and collaboration of the Embassy of Spain in Luxembourg and the Official Spanish Chamber of Commerce in Belgium and Luxembourg, raised 2,990 euros that will go to the social work of the Bazaar.

The tournament was sponsored by Credit Agricole & Indosuez, The Information Lab and Bankinter Luxembourg, as well as gifts from different sponsors: AEFICE, Vicente e Hijos, Cortijo El Madroño, Crea Haus, LuxgolfHouse, Framoliva, Winery Salferso Wine  and the sculptor Teresa de la Pisa.

The winners in this edition were Carlos Álvarez in the first category, Emilio Carnicero in second category, and Beatriz Querol in the ladies category.

The Organizing Committee and the Spanish Stand at the Luxembourg International Bazaar are grateful for the participation of all those attending the tournament, as well as the support of the sponsoring and collaborating entities.

Sponsored by:

In collaboration with:

          

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Meeting of the Board of Directors of the Chamber

On December 6th, a meeting of the Board of Directors of the Chamber was held at the Meliá Luxembourg hotel.

During the meeting, José Luis Rodríguez Álvarez (BBVA LuxInvest) was appointed as Vice President of the Chamber for a term of three years. In addition, the 2018 budget was presented, and discussions were held, among other topics, on upcoming activities of the entity.

Conference with Intertrust Luxembourg

Last October 18th, Intertrust Luxembourg organized the conference “Luxembourg vehicules: structures to invest in Spain; structures to invest from Spain” in collaboration with the Official Spanish Chamber of Commerce in Belgium and Luxembourg. The event counted on the presence of a wide audience representing the financial and complementary services’ sector.

José Luis Rodríguez Álvarez, vicepresident of the Official Spanish Chamber of Commerce in Belgium and Luxembourg, welcomed the attendees, presented the conference’s program and introduced the speakers. Additionally, thanked Intertrust for their collaboration with the Chamber regarding the event’s organization.

Carlos Ferrer, Cuatrecasas’ member, explained the following financial tools to invest in and from Spain: FCPs, SIF, SICAR, RAIF, SOPARFI and SPF, detailing their characteristics as well as the advantages and disadvantages of each one of them. After that, he showed how the foreign investors invest their money in our country through the structures to invest in property and NPLs (Non Performing Loans).

Afterwards, Joel Cárdenas, Director General at Intertrust Luxembourg, presented the wide variety of services that his company offers and he highlighted the help that they provide to companies in order to solve administrative problems that show up when they decide to set up to another country,

Subsequently, there was a Q&A session where the attendees asked their questions to the two speakers.

Finally, Bram Eijsbouts, Commercial Director at Intertrust Luxembourg, started his speech by highlighting the professional career of Intertrust in the Grand Duchy since 1955 and underlined that it is the second local office with more professionals, in particular 450. He also explained the current situation of the company in Spain and pointed out its adaptability regarding the current challenges they are facing, guaranteeing a personalized service and adapted to each client.

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