Portugal on the radar for foreign investors

Portugal has moved up the European rankings as one of the top countries for foreign investment, with the USA providing the biggest investment.

By TPN, in PortugalNewsPropertyBusinessWorldNorth America

American and British investors bullish on Portugal

International investors continue to target Portugal, with the country receiving a record number of 200 projects associated with Foreign Direct Investment (FDI) last year, with the capacity to generate around 28,000 jobs, more than tripling the values ​​recorded in 2020.

According to a study by the consultancy EY and shared with ECO, these numbers allowed the Portuguese economy to climb two positions in the EY ranking on the ability to attract international investment, with the country placing itself ahead of countries such as Poland and Ireland, which closed the top 10 in Europe in 2021.

USA main investor

With a share of 3.4% of the total FDI projects announced for Europe, Portugal once again had the United States of America (USA) as its main investor, with 30 projects (15% of the country’s total) announced in 2021.

The Americans remained at the top of investments in the Portuguese economy, but shared that position with Germany, which also announced 30 projects in the country, twice as many as the previous year. France (14.5%), United Kingdom (12.0%) and Spain (11.5%) complete the top five main foreign investors in the country.

The EY study also predicts that, in the next 12 months, 62% of investors plan to create or expand operations in Portugal, anticipating a record year for Portugal in attracting foreign investment.

Unique opportunity

For Miguel Farinha, partner at EY Portugal and responsible for the Strategy and Transactions area, the resilience that Portugal has shown in recent years “is a unique opportunity to develop conditions that will further increase attractiveness that can capitalise on investor perception”.

Digital economy, clean and renewable energy, and construction and real estate are the sectors in which foreign investors place the greatest growth expectations in the coming years.

With 60% of investors believing that Portugal’s attractiveness will grow, the study suggests that the country “should bet on promoting sustainability, innovation and talent, while promoting an attractive tax ecosystem for FDI”.

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