Saudi investors eye Portugal for European investments
Both Portugal and Ireland are counting on waiting for the European finance (IRF) ministers to decide this week to lengthen the repayment times, but chances for a seven-year extension of Portugal’s bailout loans are decreasing, according to sources quoted by Bloomberg.
Last week, a Portugal supreme court ruling blocked €1.3bn in savings, forcing Prime Minister Pedro Passos Coelho to find new reductions to appease creditors.
Meanwhile, investors from Saudi Arabia are considering opportunities in Portugal.
As reported in the website Arab News, within the European context Portugal has competitive operational costs, high quality infrastructure by road, air and sea, an excellent telecommunications network, and office and industrial space available across the country.
Portugal represents then a good destination for foreign investment, particularly with a medium to long-term perspective. This trend will also allow for the Portuguese state, Portuguese enterprises and Portuguese banks to finance themselves autonomously in the regular markets.