Foreign investment in Porto has tripled in four years
Vida Económica
· 12 Apr 2022
The volume of foreign direct investment in the Metropolitan Area of Porto (AMP) has tripled since 2017 - said Ricardo Valente.
Speaking at the conference on Growth and Sustainability, held a few days ago at the Almeida Garrett Library in Porto, the Councillor for Finance, Economic Activities and Supervision noted that foreign companies already account for 19% of GVA and 13% of employment. Eight years ago, when Rui Moreira began his first mandate, the weight of foreign companies in GDP was no more than 4%.
Speaking at the conference on Growth and Sustainability, held a few days ago at the Almeida Garrett Library in Porto, the Councillor for Finance, Economic Activities and Supervision noted that foreign companies already account for 19% of GVA and 13% of employment. Eight years ago, when Rui Moreira began his first mandate, the weight of foreign companies in GDP was no more than 4%.
"What is happening in the Metropolitan Area of Porto is unique at a European level and is well above the national average. I believe, according to the data, that we have a bright future ahead of us, the trends are on our side", he said.
Porto reached 3rd place among the most attractive medium-sized European cities for foreign investment, according to the Financial Times/fDi Intelligence ranking. In three years, Porto has risen five places in the ranking and is ahead of cities such as Newcastle, Nottingham, Edinburgh, and Bilbao.
Between 2017 and 2021, 334 foreign companies will be established in Porto. Foreign capital represents 73,454 jobs and a total investment of 6,1 billion euros. Ricardo Valente underlined that Porto has modern infrastructures, in terms of city and region, there is an excellent quality of life, it is easy to do business and there is a very strong commitment to sustainability.
Winning new investments
Porto is the only city in the country with a municipal division that is dedicated exclusively to investment and attracting companies, operating with a 100% public structure.
InvestPorto has three main priorities: promote Porto, attract investments, and support companies. The year 2021 was the best ever, with 164 million euros of foreign investment and 2,266 jobs created, mainly in the area of technologies. France, the United Kingdom, Germany, the United States, and Israel are the main investor countries. AMP already has nine unicorns, i.e., companies worth more than 1 billion euros, four of which are Portuguese.
