BDO LLP | INTERNATIONAL TECH HUBS THIRD EDITION
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THE INVESTOR ANGLE Foreign direct investment in the technology sector in Portugal is growing. Google is among the major new entrants to the region, opening a support centre in Lisbon with 500 tech jobs for skilled workers. Other international companies such as BMW, Mercedes, Volkswagen, BNP Paribas, Natixis, Bosch, Siemens have also created new support centres. The availability of market capital is one of the biggest opportunities in Portugal right now, with grants from the European Union expected to exceed $59billion in the coming years. Around 20% grants from the European Commission will be put toward digital transformation in Portugal, with further money set aside for green transformation. Investment funds from family office and private equity firms are also increasingly looking for new opportunities within Portugal, with the TMT, health and education sectors in particular attracting significant interest from investors. In terms of foreign interest, France, Germany, Luxembourg, UK and Spain are all keen investors in Portugal’s technology sector.
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