It is very possible that, on some occasion, you have heard of Institute of Foreign Trade, better known as ICEX. But what is the ICEX? Which functions has? Where is it located?
If you want to know more about this national institution dedicated to both the promotion and development of Spanish companies, then we leave you all the information you need to know about it.
What is ICEX
The ICEX is a organization whose function is to promote Spanish companies. But it does not do it at a national level, but internationally, since what it seeks is that these can compete with other foreign companies in such a way that it seeks to give them notoriety so that they can have foreign investments that, indirectly, would also have an impact on the good of Spain.
This institution was created in 1982, although with the name of the National Institute for Export Promotion (INFE), changed to the current one in 1987. And it has continued since that time. In addition, it is not only based on promoting companies, but it is also responsible for making the Spain brand known throughout the world. It depends on the Ministry of Industry, Commerce and Tourism, and is managed through the Secretary of State for Commerce.
While the main body is in MadridThe truth is that you can find some delegations throughout the national territory. Even abroad it has a presence, in cities such as London, Casablanca, Beijing or New Delhi. It can even be found in the Second Life game (on the ICEX islands).
Regarding its regulation, this is determined by the Royal Decree 1636/2011, of November 14, which approves the Statute of the Public Business Entity Spanish Institute of Foreign Trade (ICEX), where all the regulations that govern the work of this institution are found.
How the ICEX is organized
Now that you know what ICEX is, you should know what it is made of. Generally, It has 31 territorial and provincial directorates, as well as more than 100 economic and commercial offices outside of Spain. These can be used to request information but also to advise you on issues related to exports and internationalization, as well as events, talks, training, etc. that is held.
Its president is always the Secretary of State for Tourism and Commerce, while it has an Executive Directorate, led by the Executive Vice President; and two General Directorates, the Promotion Directorate and the Information and Investment Directorate.
ICEX functions
In addition to the work carried out with companies abroad such as with the Spain brand, the ICEX is also in charge of collaborate with chambers of commerce, with companies and with regional bodies with the aim of promoting the internationalization of Spain and national products. For this reason, it is easy to request advice from companies to internationalize, in workshops or talks to help promote business, or develop internationalization plans.
En general, The main objectives of ICEX are:
- Design and execute commercial promotion programs. This in order to publicize businesses and products outside of Spain, in foreign markets.
- Prepare and disseminate information on Spanish products in foreign markets, that is, give visibility to the Spain brand in other countries.
- Promote technical training of companies and train professionals. In other words, it becomes an institution where you can learn about internationalization issues in order to be successful if it is done.
- Promote investment, cooperation or industrial implementation projects, especially in the case of foreign markets. That is, it seeks to support those companies that take the step to internationalize and helps them with implementation, investment and cooperation.
Other functions that you can find from ICEX are:
- Attracting foreign investment. Companies that want to invest in Spain, whether in businesses, companies, products, etc.
- Advise on strategies for companies that want to export or internationalize. This would include training on export and customs issues, as well as the legislation of the countries with which you want to operate.
- Organize forums and meetings for business cooperation, both national and international.
What grants, agreements, scholarships ... do you have
As we have told you before, one of the functions of ICEX is to support and promote the development of companies outside of Spain. And this can be achieved through grants and agreements given by ICEX itself. Specifically, we can find three different lines:
- ICEX-Next. They are aid for Spanish SMEs that want to internationalize, supporting them in the different phases of which this is composed. Turnover cannot exceed 100.000 euros per year and in return receives advice, development of an international strategy, cover expenses (prospecting, international promotion, development, contracting ...).
- Internationalization scholarship programs. As for offering financial aid to get support in the cost of internationalization.
- Investment programs of foreign companies (mainly focused on technology and R&D activities). In this case, it is foreign companies that, through ICEX, decide to invest in Spanish companies to help them with an economic boost to improve their products and / or services, or to make the leap to export and / or internationalization .
The shock plan to support internationalization
Due to the Covid-19 pandemic that began, the ICEX created a new aid plan, the shock plan to support internationalization, with the aim of keeping the exports that were had at that time intact.
To do this, they established measures aimed at addressing problems in the event of the suspension or complete stoppage of exports. This was focused on the years 2021 and 2022.
In this way, we can say that if you have a company that wants to export or internationalize to other countries, the best thing to do is go to ICEX for advice and to see if you could get any help to make the process legal. , correct and the best possible for the entrepreneur. Is it clear to you what the ICEX is?