Portugal saw a dramatic surge in foreign investments in 2024, attracting €420 million in export-focused projects, a significant rise from the €41 million recorded in 2023. According to the Economy Ministry, this sharp increase reflects growing investor confidence in Portugal’s strategic sectors and its qualified workforce. The investments are expected to boost the economy and generate over 1,000 jobs, reinforcing the country’s reputation as a prime destination for foreign capital.
The government credited the success to incentives offered through its trade and investment agency, AICEP, which provides tax breaks and loans funded by the European Union to companies focused on exports. Economy Minister Pedro Reis emphasized that this influx of investment demonstrates Portugal’s economic stability and readiness to attract global businesses despite challenges in the broader European economy.
Several large corporations made key investments in Portugal during 2024. U.S. semiconductor giant Amkor Technology expanded operations, while German engineering firm Bosch committed to high-tech manufacturing facilities. The automotive joint venture Horse, formed by Renault and Geely, focused on producing gearboxes and mechanical components for export. Additional investments were made in pharmaceuticals and information technology, further diversifying the economy’s industrial base.
Portugal has emerged as one of Europe’s most resilient economies, relying on strong exports and a booming tourism sector to recover from its 2011–2014 debt crisis and bailout. While economic growth across the eurozone has slowed, Portugal’s economy is forecast to expand by 2.1% in 2025, up from 1.8% in 2024. The government attributed this outlook to increasing investments, European funding, and higher exports.
The rise in investments comes as Portugal positions itself as a leader in advanced manufacturing and green technologies. AICEP has played a pivotal role by focusing exclusively on attracting export-oriented businesses. Its support mechanisms, including financial incentives and tax relief, have made Portugal an attractive destination for global firms looking to expand.
As the economy continues to grow, the Portuguese government sees this wave of investments as a foundation for long-term stability and competitiveness. With industries such as semiconductors, pharmaceuticals, and clean technologies gaining momentum, Portugal is set to strengthen its presence in global markets.
