The Government creates the Strategic Investment Committee to expedite large projects

The Government has created the Strategic Investment Committee, the interministerial body that will evaluate and propose the declaration of Strategic Investment Projects in Spain. This is done through Royal Decree 731/2026, of September 16, published in the Official State Gazette (BOE) No. 230, on Thursday, September 17, 2026, in Section I of general provisions (official reference BOE-A-2026-19327). The regulation develops Article 29 of Royal Decree-Law 7/2026, of March 20, and establishes the criteria and the declaration procedure.

An interministerial body attached to the Presidency

The Committee is an interministerial collegiate body as provided for in Law 40/2015, of October 1, attached to the Office of Economic Affairs and G-20 of the Presidency of the Government. Its objective is the facilitation and prioritization of national and foreign investment in strategic projects, and it will submit a report to the Government Delegated Commission for Economic Affairs for its review and final declaration.

The presidency is joint and falls to the heads of the Office of Economic Affairs and G-20 and the Secretary of State for Economy and Business Support of the Ministry of Economy, Trade and Enterprise. In the event of a repeated tie, the matter is referred to the Delegated Commission. The Plenary is completed by five vice-presidencies and fifteen memberships:

• First Vice-Presidency: Office of Economic Affairs and G-20.
• Second Vice-Presidency: Ministry of Industry and Tourism.
• Third Vice-Presidency: Ministry of Finance.
• Fourth Vice-Presidency: Secretary of State for Energy of the Ministry for the Ecological Transition and the Demographic Challenge.
• Fifth Vice-Presidency: Ministry for Digital Transformation and the Civil Service.

The memberships correspond to representatives from Foreign Affairs, Defense, Transport and Sustainable Mobility, Education, Vocational Training and Sports, Labor and Social Economy, Agriculture, Fisheries and Food, Housing and Urban Agenda, Health, Science, Innovation and Universities, Inclusion, Social Security and Migration, the Secretary of State for Trade, the Secretary of State for the Environment, the National Security Department, the Department of Strategic Foresight and Scientific Advice, and ICEX Spain Export and Investment, E.P.E. The Committee has a Technical Secretariat composed of seven ministerial representatives.

Two phases, fixed deadlines, and revocation

The procedure begins at the request of the promoter via electronic means and consists of two phases:

• Prior declaration: granted by the Plenary of the Committee within one month of the application submission, based on quantitative criteria (investment volume and skilled employment) and qualitative criteria.
• Definitive declaration: agreed upon by the Government Delegated Commission for Economic Affairs, upon the Committee’s proposal, within a maximum period of three months from the application; administrative silence shall be considered a rejection.
• Revocation: the Committee may initiate this due to breach of conditions or falsification of data, with a resolution within three months.
• Substantial modifications: these shall be communicated in advance; changes in ownership and variations exceeding 10% in committed employment or investment volume are considered as such.

The acquisition of shares or social stakes, the increase and reduction of share capital, and the structural modifications of commercial companies are excluded from the scope of the regulation. Projects subject to prior authorization for foreign investment must provide proof of such authorization before the definitive declaration.

Criteria and effects of the declaration

Assessment criteria include alignment with the industrial and ecological transition objectives of the European Union, contribution to strategic autonomy and economic security, R&D&i effort, socioeconomic impact, and territorial cohesion. Special value will be given to projects with the seal of the Strategic Technologies for Europe Platform (STEP), Important Projects of Common European Interest (IPCEI), Projects of Common Interest (PCI), and Projects of Mutual Interest (PMI), as well as those linked to Regulations (EU) 2024/1252 and (EU) 2024/1735.

Support measures will be incorporated into the definitive declaration and will respect the distribution of competencies; priority in the processing of regional incentives will be given to projects declared strategic. Information on the declared projects will be published in the BOE via an order from the Ministry of Economy, Trade and Enterprise.

Constitution and entry into force

The Committee must be constituted within one month of the entry into force of the royal decree, which occurs the day following its publication. Within the same period, the Government Delegated Commission for Economic Affairs will approve the scale and evaluation methodology, and a joint order from Economy, Trade and Enterprise and Presidency, Justice and Relations with the Courts will set the date from which applications may be submitted. The regulation does not imply an increase in public spending.

The royal decree arrives in a context where investment represents 20% of the Spanish GDP and calls for proposals with funds from the Recovery Plan exceed 79 billion euros. For large investors, the regulation introduces a single point of contact with the General State Administration and defined deadlines, with a view toward the saturation of the electrical grid and the attraction of projects involving semiconductors, renewable hydrogen, data centers, and net-zero emission technologies.

Source: Official State Gazette, no. 230, September 17, 2026, Sec. I. General provisions, page 122630 (official reference: BOE-A-2026-19327).