Lisbon, Portugal, 27 Dec – In the first 11 months of 2010 Portugal was the third biggest destination in Europe for Brazilian investment, behind Luxembourg and France, and the fifth biggest in the world, according to figures published by the Brazilian press.

Between January and November of this year, Brazilian companies invested a total of US$959 million in Portugal, which was 20 times the amount invested in 2006.

“The economic crisis has become an investment opportunity for Brazilian companies, which are increasingly focusing on the European markets, whilst unstable South American markets are losing space,” newspaper Folha de São Paulo reported.

The top European destinations for Brazilian direct investment received a slice of 16.9 percent of the total, as compared to 3.7 percent in 2006.

Accompanying the trend to boost bilateral relations, Portuguese investment in Brazil between January and November totalled US$1.1 billion, or 3 percent of the total invested in the country, the Brazilian central bank said. (macauhub)