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Portugal in the TOP 10 of the most attractive countries for FDI
News - aug 2021
R&D related to IT and digital services will drive the country's growth in the coming years
Portugal moved from the 11th to the 10th position of the most attractive economies for Foreign Direct Investment (FDI) in 2020, revealed a study from EY.
According to the study, last year, 154 FDI projects were announced in the Portuguese market, 70% of which with funds originated from Europe and 30% from the rest of the world.
However, these 154 projects represent a decrease of 3% compared to the 158 recorded in 2019, due to the uncertainties caused by the Covid-19 pandemic, which caused a fall of 13% compared to the previous year in the attractiveness of FDI in European countries.
Despite the slight downturn in FDI in Portugal, 50% of investors inquired consider that Portugal's attractiveness will improve in the next three years and 37% are planning to establish or expand operations in Portugal during the next year.
The manufacturing sector leads with 24% of projects and research and development comes in second with 33projects, mainly related to investments in IT and digital services. This sector is considered by 45% of researchers as the main sector driving the country's growth in the coming years.
The manufacturing industry, R&D and Business Service Centers are "the engines of the future", as more than half (62%) of respondents who plan to invest or expand their activity in Portugal intend to do so in these areas.
Portugal’s attractiveness is also due to quality of life, social stability, reliability and coverage of transport, telecommunications and energy infrastructure, and the availability and qualifications of the workforce.
Also proof of this attractiveness is the international recognition and awards that have placed Portugal as a top destination for investment in multiple sectors and especially by foreign investors, according to the study “Portugal on the Radar of Business Service Centers (BSC): Attractiveness of the Real Estate Market, Edition 2021”.
Consequently, the Business Service Centers segment is growing rapidly in Portugal, responding to the companies' need to optimize resources, ensuring maximum productivity levels at more competitive costs, always safeguarding the quality of the manufacturing processes.
