Portugal wants China’s investment in productive areas

4 December 2018

China is a “partner country that is a friend of Portugal,” due to China’s focus on Portuguese companies, said on Monday in Lisbon the economy minister, who stressed the need to achieve “productive investment.”

Pedro Siza Vieira, speaking at the conference entitled, “Portugal-China, a relationship with a future” in Belém, Lisbon, said that the relationship between the two countries is mainly reflected in the level of foreign investment in Portugal, referring to “significant acquisitions of companies and assets,” in several areas.

These acquisitions involve companies such as Global Media, insurance company Fidelidade, power distribution company Redes Energéticas Nacionais (REN), power company EDP – Energias de Portugal, and Banco Comercial Português.

The minister, quoted by tPortuguese state news agency Lusa, recalled that the conference was taking place on the eve of President Xi Jinping’s official visit to Portugal, and said that the Portuguese government wants to take advantage of this opportunity to “raise the political and diplomatic relationship to a higher level.”

“The ambition that both countries place on this visit is significant,” and from Portugal’s point of view, “we would like to move from acquiring assets to a productive investment,” said the minister, mentioning “areas to be explored” such as the automotive and electric mobility sectors.

Portugal also wants to “increase exports to China,” thereby increasing the “penetration of Portuguese goods and services” as well as promoting tourism, he said.

China’s ambassador to Portugal, Cai Run, said President Xi’s visit on Tuesday and Wednesday “will be successful and will have good results.” (macauhub)