Foreign investment boosting economy

Secretary of State for Internationalisation, Eurico Brilhante Dias has said that 2021 was a “fantastic year, the best year in contracted investment since the creation of the Agency for Investment and Foreign Trade of Portugal (AICEP), whether in industrial investment or in direct investment foreign currency”.

By TPN, in Business, Economy · 31 Dec 2021, 15:02 · 2 Comments

According to Diário de Notícias, by the end of the year, AICEP will have raised 2.7 billion euros in Foreign Direct Investment in Portugal. This means that the investment contracted by AICEP will exceed the 2019 record by 229%, with three of the last four years breaking barriers in supported investment, always above one billion.

Eurico Brilhante Dias justifies the numbers achieved in the middle of the pandemic with the combination of several factors, starting with the existence of many projects in the pipeline that were contracted positively — including the record for the decade, the 657 million invested by Repsol to expand the Sines Industrial Complex.

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Comments

Yes, foreign investment that is rational, clear and protective of Portugal's national interests should be always welcomed! Instead, what is mostly seen is the quick sale of patrimony, industry and resources to the cheapest bidder or to well connected and often obscure interests!

By Tony Fernandes from Other on 31 Dec 2021, 16:03

Agree with Tony, along with the profits that also disappear out of the country once the tax breaks have been locked in! False economy.

By Stuart W. from Algarve on 01 Jan 2022, 16:06