March 3, 2020
Portugal exceeded the target of one billion euros of investment projects in 2019. Last year, Portugal signed contracts for 80 new investment projects from 15 different countries. Around 75% of new contracts are of foreign origin, more exactly from 15 different nationalities. The information was released by the Secretary of State for Internationalisation, Eurico Brilhante Dias. German, French and Spanish investments were the biggest.
“AICEP signed contracts worth over €1 billion in foreign and Portuguese investment. This is investment from 15 different sources and 15 sectors,” said the secretary of state.
Brilhante Dias added that the diversity of sectors and investors “allows the opening of the business portfolio where Portugal has competitive advantages.”
The sectors which provided the greatest amount of investment included the automotive and car component sector with over €200 million, in 15 new projects, but also the agri-food industry and tourism sectors which last year exceeded €425 million contracted”. Certainly it is also important to highlight the importance of the chemical and metalworking industry.
In terms of nationalities, it was the Germans who most invested in Portugal, totalling 150 million euros. In second place was Spain and France, both invested around 100 million euros. It is important to note that around 50 million euros came from US investors.
The Minister of Economy, Pedro Siza Vieira, said that “private business investment in the country has grown by 9.2%.”
At stake are 80 investment deals, compared to 52 in 2018. And everything points to the fact that, in 2020, the threshold will once again be exceeded.
Source: AICEP, PORTUGAL RESIDENT, ESSENTIAL ALGARVE