Portugal wants to attract investment from China, Angola and Brazil

13 January 2006

Lisbon, Portugal, 13 Jan – Portugal aims to attract investment from China, Angola and Brazil, particularly in the energy, technology and tourism sectors, officials said in Lisbon.

In an interview with Portuguese financial daily Diário Económico, Pedro Catarino, president of Portugal’s direct foreign investment association (IDE), also said that Japan, South Korea, Spain and the Middle East were in his association’s sights as priorities for attracting investment in Portugal.

Catarino, a former Portuguese ambassador to China, said IDE was preparing, together with the Portuguese Investment Agency, a set of recommendations to increase the country’s competitiveness in garnering foreign investment.

The focus areas for this year, Catarino said, would be energy, at a time when Portugal is preparing to invest heavily in hydroelectricity and renewable energy, the technology sector, and tourism and leisure.

Among the recommendations already made by IDE are reductions in corporate tax, tax breaks for companies that focus on research, reform of the legal system, speeding up the process for creating companies and increasing the teaching of English in schools. (macauhub)