SEPI's functions were set by the Act which created it:
- To promote and coordinate those companies which are directly owned by it.
- To set the strategy and overview the planning of the societies in which it has a direct and majority participation, as well as follow-up and control its execution. The normal management of these companies is in the hands of their own managing bodies.
- To manage its shares and shareholdings, and to carry out all types of financial deals, both active and passive.
- To set the general operating guidelines for its companies, applying corporate management criteria and executing the Government¿s guidelines regarding the modernization and reorganization of the state-owned corporate sector, safeguarding public interest.
Its main objective is to achieve the highest possible profitability from its shares and shareholdings through:
- The definition and authorization of the strategies and the set up of the relevant actions and the yearly objectives for all its companies.
- The design of plans for the future, which must include the improvements required in loss-making enterprises: operating, financial, organizational, for the workforce, etc.
- Controlling the efficiency in those enterprises in which it has a direct and majority participation.
The promotion of new projects, of R&D+I and the Environment protection, and carrying out reorganization and privatization processes are also among SEPI's objectives. For this it carries out the following:
- A promotion and development activity, offering entrepreneurial alternatives which can offset the economic and social effects resulting from the reduction in the activity in specific geographical areas.
- The analysis and approval of the actions carried out by the enterprises in R&D+I, advisement before organisms and institutions and the assessment of environmental situations. It also finances projects through a research promotion fund.
- The management of the orderly liquidation processes of non-feasible companies, or of the companies which are approaching the end of their activity.
- The privatization of those participations which are not strategic for SEPI, which the private sector could manage.