“The Chinese companies that are preparing to build factories in Portugal are Tederic, Ningbo David, Medical Device, Shyahsin and other companies in the field of electronic vehicles such as Chery and XEV have also shown interest in building factories in Portugal, we are carrying out investigations in the market”, stated Zhao Bentang.

CALB also disclosed its plans to build a lithium battery factory, in which they received the green light from APA (Portuguese Environmental Agency), Zhao Bentang informed, adding that the construction of this factory should reflect the “location of the vehicle industry with new energies and Portugal’s low carbon transition”.

The ambassador predicted that the Parque de Oeiras project, in partnership with the China State Construction Engineering Corporation and Teixeira Duarte, could begin construction this year, thus creating “conditions to attract more foreign investment and more favourable conditions for the economy of Oeiras”.

“We hope that the Portuguese government will continue to create an open, equal and indiscriminate environment for foreign companies. To protect the legitimate rights of foreign investors and provide a safe and long-term development environment”, as well as in order to “attract more Chinese companies to invest and do business in Portugal”, which also helps the “socio-economic development” of the country, he defended.

“Friendliest country”

The ambassador also recalled that Portugal is one of the “friendliest countries to China in the European Union and a global strategic partner, sharing good relations in the areas of politics and trade”. Adding that Portugal is also one of the main investment destinations for Chinese companies, and in 2023, direct investment from China exceeded €386 million, a year-on-year increase of 34.52 percent.

The direct investment stock exceeded €3.6 billion, a year-on-year increase of 12.2 percent. When investment by Chinese companies through Portugal to third countries was included, the investment stock amounted to €12.3 billion, a year-on-year increase of 10.16 percent, explained the diplomat.

These are investments guided by the principle of “mutual benefits and shared gains”, he stressed, giving several examples of success and partnerships, such as the construction of NEDTER – the Energy Research Center of Portugal, at a time when the Portuguese economy is facing energy, digital and innovation transition, as well as the Chinese economy, committing to “promoting high-quality development with productive measures”.

“The two countries share developments concepts and have obvious complementary advantages, with a broader future of cooperation”, he concluded.