Portugal plans six major business parks to attract multinationals

The Portuguese government plans to create six large business and industrial parks across the country in a bid to attract multinational companies that might otherwise invest elsewhere, Economy and Territorial Cohesion Minister Manuel Castro Almeida has announced.

Speaking on Friday at the inauguration of a new road linking the A8 motorway to the Palhagueiras Business Area in Torres Vedras, the minister said the government wants to develop business parks ranging from three to eight square kilometres.

“We want to create six medium and large business areas across the country – essentially replicating, on a smaller scale, what Sines has achieved,” he said.

The government believes a lack of large, fully serviced industrial sites is preventing Portugal from securing major international investment.

“There are constantly large international companies looking to invest in Portugal that are choosing other countries because we do not have sufficiently large, properly serviced sites available,” Castro Almeida said. “I would rather have available land that is not immediately used than lose investment because no suitable land exists.”

The minister said Global Parques, a company owned by AICEP, will lead the development of the new business areas. Their locations will be selected by Portugal’s regional coordination and development commissions, while the government will be responsible for securing funding for the necessary infrastructure.

Under the current plan, two business parks will be located in northern Portugal, two in the central region – one on the coast and one inland – one in the Lisbon area and one in the interior of the Alentejo.

The initiative forms part of the government’s broader strategy to strengthen Portugal’s competitiveness and increase its appeal as a destination for foreign direct investment.

Source: ECO/Lusa

Inês Lopes

Newspaper editor at The Portugal Resident