Investment in new projects in Portugal expected to total 3 billion euros in 2006

20 November 2006

Lisbon, Portugal, 20 Nov – Investment in new projects in Portugal is expected to reach 3 billion euros by the end of the year, the president of the Portuguese Investment Association (API), Basílio Horta said Friday in Lisbon.

“By mid November, investment contracted by API in new projects in Portugal totaled 1.075 billion euros, and could be close to 3 billion euros, if two other contracts are signed before the end of the year,” Horta said in a public presentation at the Portugal-India Chamber of Commerce.

Horta also said that the 2006 trend for investment contracted by API “is very positive,” and the potential 3 million-euro figure compared with 1.4 million euros between 2004 and 2005.

The Portuguese economy has been boosted by growth of exports to outside the EU, with increases in market share, and with machinery and equipment export growth accounting for 11.1 million euros.

The importance of Portugal improving its trade and bilateral relations with India were made clear at the event with the announcement that the AIP planned to open an office in the country once Portugal launches the Investment and Foreign Trade Agency (AICEP).

The new agency, which will be the result of a merger between API and ICEP, will be responsible for promoting investment and foreign trade, and its board has already been set up. (macauhub)