Chinese investment in Portugal already reached €5BN, says ambassador

  • ECO News
  • 8 February 2019

The Chinese ambassador in Portugal, Cai Run, has noted that Chinese investment in this country has increased by 7.27% in 2018, reaching €5.24BN.

Chinese investment in Portugal went up by 7.27% last year, with €5.24 billion being invested in the country, according to the Chinese ambassador to Portugal, Cai Run.

During the opening session of the conference “40 years of diplomatic relations between China and Portugal”, Cai Run noted that the Chinese investment has been on the rise and that he expects that trade increases between these two countries in the coming years.

During his intervention, in which he addressed the audience in Chinese, the Chinese ambassador added that the total investment value went over €9BN, also noting that the Portuguese investment in China was “quite significant”.

Marcelo says there are “many opportunities” in Beijing

Portugal recognizes “many opportunities” in the growing position of the PRC on the international scene, which will benefit the world and “certainly Portugal, which recognizes several opportunities in this development”, said Marcelo Rebelo de Sousa, the Portuguese President, in an interview to Macau magazine. 

In the interview, the President, addressing the Chinese investment in Portugal, noted that “Portugal is certainly able to attract new investments, ideally in other areas and with other more industrial characteristics, with the creation of structures from scratch”.

Chinese investment in Portugal has been mostly focused on energy, banking, insurance and health sectors.

Marcelo also noted that he believes the “Belt and Road” initiative is a “major project for commercial and infrastructure links and is very promising because it will complement the European Union’s inter-relationship initiative”.

The President also noted that the friendly ties between China and Portugal would have never become so strong without the contribution of Macau, which has been a bridge and a platform that makes dialogue easier between the two countries.