Portugal will be a "safe harbour" for investment
Portugal's Minister of the Economy, Pedro Reis, argued that, during this time of geopolitical tensions and changes, Portugal will take on the role of a "safe harbour" for investment.
These statements were made at the end of November during a speech at a conference organised by the Financial Times in Lisbon, where the minister highlighted that "in a global context of profound geopolitical and economic changes, new patterns in international trade, and increased volatility," Portugal is positioning itself as a "safe harbour for investment."
Pedro Reis also emphasised the importance that governments should place on "creating the right ecosystem for innovation." "There is no path to a sustainable growth model disconnected from a vibrant private sector, capable of providing the necessary investment and innovation," the minister reiterated.
In his speech, themed "How can the public and private sectors collaborate to accelerate economic growth?", the Minister of the Economy also stressed the need to invest in Portugal's potential regarding renewable energy, stating that success in integrating sustainability principles into the structure of economic frameworks will determine "the growth trajectory, but also the type of society" that will remain for future generations.
In the following panel at the conference, the president of AICEP, Ricardo Arroja, also highlighted that one of the agency's objectives is to "promote Portugal's credentials," and given the "high penetration of renewables in energy generation" and relatively "low electricity prices in Portugal," there is a good "starting point for national credentials in the sustainability discussion."
Portugal has become a prime destination for foreign investment, particularly in real estate, aligning with Minister Pedro Reis' vision of the country as a "safe harbour" for investment. Cities like Lisbon, Porto, and the Algarve have attracted significant interest, driven by Portugal's stability, tax incentives, and the Golden Visa programme. This influx of foreign capital, especially in luxury properties and commercial developments, supports both the economy and the government's goal of fostering a dynamic, innovative ecosystem.
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