Government announces €250 million investment

Portugal is set to receive €250 million worth of investments in a refreshing economic turn-around.

The announcement came earlier today in Parliament from Economy Minister António Pires de Lima, who said that €120 million out of the total would come as a result of a contract signed between paper company Portucel and the Agency for Investment and External Commerce in Portugal (AICEP).

Pires de Lima did not disclose further details but gave the example of four companies that began investing in Portugal last month – Volkswagen, in a €37 million deal; Caima (€35 million); Celbi (€26 million); and Goma Camps (€30 million).

“Portugal’s effort to attract investors is already showing in the Portuguese Economy,” said the minister, who considered that these examples prove the country’s “economic turning point”.