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Foreign investment in Portugal continues, despite the pandemic

Portugal has been applauded by its efficiency in fighting the new coronavirus and the country is optimistic in the recovery.

The Portuguese Minister of Economy, Pedro Siza Vieira, referred earlier that foreign investment in the country had no slowdown and the investment intentions prior to the pandemic maintained, highlighting that some of those businesses have already taken place these weeks.

He believes international trust and confidence in Portugal will continue and, although admitting some reservations due to a period of uncertainty, that Portugal will continue a preferred destination for tourism as well as for investment from foreign individuals and companies in the long run.

“Siza Vieira believes that Portugal’s recovery will be ‘sharp‘, now that the confinement measures are being lifted after the end of the state of emergency on May 4th. The country, not that much affected when comparing to neighboring countries, is slowly getting back to normal and benefiting from the fact that it took early measures to restrain the virus.”

In “Portugal perceived as a safe haven in Europe

Portugal’s great reputation overseas and the eminent success in its first steps for control of the pandemic are the main elements for keeping hopes up for the future. Portugal has been captivating the attention of tourists and investors from across the globe and has great incentives for foreigners, such as the Golden Visa and the Non-Habitual Resident programs.

Several important players from the real estate sector have also publicly confirmed that foreign investors still have the Portuguese real estate market under their radar.

Meanwhile, also the Portuguese Prime Minister, António Costa, has declared that the planned foreign investment was maintained and even increased, saying there are new foreign companies that manifested new interest in investing in Portugal.

Those new intentions were showed in several economic fields, says Costa, and besides investment from abroad, also the public investment foreseen on the Portuguese State Budget for 2020 will be maintained. including the 20% increase announced a few months ago.

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