"As a country open to foreign investment, Portugal welcomes investment from China." The investment counsellor of the Portuguese Embassy in China, Mr. conpati, said at the recent online promotion meeting of Portugal's investment environment. Last year marks the 40th anniversary of the establishment of diplomatic relations between China and Portugal. With frequent high-level exchanges between the two countries and the sustained growth of bilateral trade and investment, Sino Portuguese relations have shown a good development pattern and comprehensive strategic partnership has been continuously strengthened.
As the first one belt, one road west of China, the main advantage of Portugal's investment environment is its geographical location and market access. Portugal is an important hub connecting the Silk Road and the maritime Silk Road, and has natural advantages in economic and trade cooperation with China. Portugal is not only a bridge to the huge consumer market of 500 million people in Europe, but also a bridge connecting Portuguese speaking countries in Africa and South America, so the market is broader. In addition, Portugal has a good business environment, ranking the second largest OECD country open to foreign investment, Forbes ranked 25th as the most suitable country for doing business in 2019, and the world bank ranked first in cross-border trade in 2019. In terms of talents, most Portuguese master English, French, western German and other language skills, which is very beneficial for Chinese enterprises who want to go global. Their scientific literacy and technical level are higher than the average level of Europe, among which the number of engineering graduates ranks second in Europe, with more high-quality talents and world-renowned innovation ability.
Subsequently, Fang Zhihao, the economic and Commercial Counselor of the Portuguese Embassy in China, and the staff of plmj law firm of Portugal introduced the preferential policies offered by Portugal to foreign investors. For example, there are less restrictions on investors in the local area, and investors are not required to hold shares in local enterprises to set up factories in local areas, and there are no rigid regulations on the profit distribution ratio of foreign-funded enterprises at home and abroad. At the same time, foreign enterprises operating in Portugal can enjoy the same national treatment as domestic enterprises. In addition, the government also provides investors with full support and one-stop service agencies, inquiry processing, fact finding, site location, investment incentive and other whole process services.
In recent years, a number of Chinese enterprises represented by the Three Gorges group and the State Grid have carried out good cooperation with a number of important Portuguese enterprises, and the pace of Chinese enterprises' layout in Portugal has been accelerating. In 2018, COFCO set up a "center of excellence" to provide shared services for COFCO international in Porto, Portugal, which not only accelerated COFCO's goal of becoming a world-class grain merchant, but also created more than 100 new jobs covering it, procurement, human resources and finance.
"Close to customers, supply chain flexibility, emphasis on sustainable development and social responsibility, innovative partnership and other advantages will greatly contribute to the development of Portugal's international business in the post epidemic era." Said compatti.
In addition to the energy, finance, life and health fields in which Chinese enterprises have invested a lot, Portugal's automobile and auto parts industry also has a bright future. At present, Portugal 2020 project cooperated with the European Commission focuses on developing automobile industry, accelerating the research and development of new energy vehicles, and accelerating the reconstruction of domestic supply chain through such organizations as "supplier club". Investment in Portugal can help Chinese car companies to further expand their market.
In addition, Portugal is recognized as a tourist destination by the international community and hopes to create tourism demand in the new area and enhance its capacity for sustainable development. Among them, the natural regeneration project proposed by the relevant government departments aims to open some meaningful and historical properties to the public, develop tourism, promote investment and create employment. It is understood that 21 cultural heritages have been invited for public bidding, 16 franchise rights have been issued, 14 contracts have been signed, and two hotels have been opened.
"We are looking forward to more Chinese investors coming. We are absolutely open to Chinese investors. " Kompati said that Portugal's economy has prospered because of its openness, and has become more competitive because of its openness.