Angolan investment in Portugal in the first quarter of the year totals around 119 million euros

14 June 2012

Direct net investment by Angola in Portugal in the first three months of the year totalled 118.8 million euros, as compared to 22.2 million euros in the same quarter of 2011, which represents year-on-year growth of 435.2 percent, according to the Portuguese press.

The amount invested in the first three months of the year shows that Angola accounts for 1.5 percent of total foreign direct investment (FDI) in Portugal, which in the period totalled 1.219 billion euros.

Two years ago Angola’s investment in Portugal accounted for 0.1 percent of total investment in Portugal.

In 2005, Sonangol injected funds into Galp; in 2007 it took a stake in Portuguese bank BCP and in 2008 Angolan bank Banco Internacional de Crédito (BIC), started operating in Portugal. (macauhub)