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Porto is a seductive city for the foreign companies

Porto is a seductive city for the foreign companies
14 Dec 2016

Behind the touristic Porto, a city is hidden that is seducing more and more companies based abroad. The secret seems to lie first and foremost in the quality of university education, especially in the technological areas. The price of the labor factor is competitive compared to Central Europe, and the ability to speak languages also weighs in the balance, alongside the country's security. With so many attractions, Porto is generating jobs and working for the World.

Next year, the French bank Natixis will set up a technology center in the city and will employ around 600 people. This is mainly due to Porto’s geographical location, as well as to the strong suitability between universities and the labor market, the high know-how, professionalism and appetite for foreign languages.

This suitability is evident in the business nest that is the Science and Technology Park of the University of Porto (Portuguese acronym - UPTEC). The structure houses the branches of eight companies headquartered abroad, in addition to five that were created from scratch by promoters from other countries. One of the examples beyond information and communication technologies is the attention shown by the pharmaceutical industry to the Asprela area, where 26 entities/organizations are producing knowledge: hospitals, universities, laboratories and companies.