Following its successfully exit of the bailout of the International Monetary Fund (IMF), the European Union (EU) and the European Central Bank (ECB), Portugal is now catching the attention of foreign investors.
Portugal is no longer in the news for bad reasons. Still there are challenges ahead. Portugal needs to reduce historically high levels of Government debt and unemployment and continue reducing its budget deficit still perilously close to 3%.
After implementing a harsh economic program with little social unrest, Portugal is bringing down its chronic trade deficit and correcting some of its imbalances that have hindered its economic growth since the beginning of the millennium.
For international investors looking for a place to invest in Europe, Portugal offers several advantages, of which many investors are not aware. Portugal is an ideal location for nearshoring industrial and services facilities because of its access to Europe’s 500 million consumers’ market and to the Portuguese-speaking world, which spreads across five continents: Europe, America, Africa, Asia and Oceania.
Portugal has a proven track record of successful foreign investments across a wide range of sectors.
Investors that are considering Portugal as a place to invest want to know the hard facts about the country and not the stereotypes associated with the country and its people.
Autoeuropa, Volkswagen’s Portuguese auto-plant, is one of its most productive plants. Nokia Siemens Networks chose Portugal to install its new Global Networks Solutions Center. Microsoft, Colt, Ikea have also successfully invested in Portugal in recent years.
Portugal has one of the most favourable business environments in the world. The World Bank's "Doing Business 2016" Report ranks Portugal in the top 25 of the world’s – 11th in the EU – most attractive locations to do business.
WhyPortugal 2016 aims to show international businesses and institutional investors, private equities and industry players considering Portugal as a location to invest in Europe.
This report provides an overview of the opportunities and challenges of doing business in Portugal and reviews the main aspects to be considered by foreign investors considering Portugal as a place to invest as regards the setting up of a business, hiring employees, taxation and government incentives.