At the celebration of the 115th anniversary of Alcobre in Ovar, Portugal's oldest electrical cable manufacturer and now a subsidiary of the Hengtong Group, the Portuguese Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, emphasized that Portugal attaches great importance to Chinese investment, maintaining regular and positive contacts with potential Chinese investors through AICEP — the Portuguese Agency for Investment and Foreign Trade.

The Portuguese government welcomed Hengtong Group's investment in electrical cable manufacturing in the country and the role of Chinese investors in the country's technological advancement.

“Portugal greatly values foreign direct investment, and any productive investment that helps to develop our economy, improve employment, and raise wage levels is greatly appreciated,” he said, citing Hengtong's acquisition of Alcobre as an example. “We encourage more Chinese companies to set up in Portugal so that they can benefit from the local innovation ecosystem and the opportunities offered by the European market,” he said.

(Source: China-Lusophone Brief, on October 7)