Chinese investment boosts Portugal’s economic recovery

Chinese investment has helped Portugal continue its economic recovery in recent years, Chinese state-run broadcaster CCTV recently reported.

Chinese investment accounted for 45 percent of the 9.2 billion euros (US$10.22 billion) the Portuguese Government raised from the sale of state assets in the last three years, the report said.

“We had Chinese investment in utility companies; we also had Chinese investment in investment banks here in Portugal,” Pedro Ortigão Correia, Executive Director at AICEP Portugal Global – Trade & Investment Agency, told CCTV. “And Portugal was a very important entry point for China into Europe, because all in all, Europe has a 500-million consumer market.”

Apart from utilities and major infrastructure projects, “a more diverse bilateral trade portfolio” between the two countries has also been developed and is expected to grow in the next few years, the report added.

“Portugal has started to attract a lot of Chinese tourists and that could help expand the co-operation between the countries,” Mr Correia added.