AICEP
Agência para o Investimento e Comércio Externo de Portugal

Enterprise Greece Newsletter | September 2022

Our live Moving to Portugal Show and Seminars are back in action  – so come and see us on 20th October 2022 in central London!

On the occasion of European Sustainable Development Week, Natixis in Portugal and Fintech Solutions will promote the Meetup Fintech is Impact.

The Big Science Business Forum 2022 takes place in Granada, Spain from the 4th to the 7th of October.  ANI the Portuguese National Innovation Agency promotes the Portuguese participation, with the support of AICEP.

From the perspective of the Chinese report, Portugal is the Portuguese-speaking country with the best score in the sub-index of development associated with the environment.

After 3 years of absence due to the pandemic, the Portugal Economic Forum is back for its fifth edition, on October 6^th at Harvard Club of New York City.

In 2019, a record year for national tourism activity, Portugal achieved tourism revenues of more than 18 billion euros.

The Greek Economy publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner.

MARMO+MAC 2022 is back to Verona - Italy, between the 27th and 30th of September, a fair where companies and professionals from the stone industry get together, for this which is the biggest international event focused on the sector and which this year will be attended by the Secretary State of Economy, João Neves.

Portuguese exports of goods to Sao Tome and Principe rose 7.2 percent in the first half of the year on a year-on-year basis, while imports fell 55.3 percent, according to data from the National Statistics Institute (INE), provided by AICEP to Lusa.

Felino S.A. will be, once again, at " ELMIA SUBCONTRACTOR 2022”, the foremost exhibition in the field of industrial subcontracting in the Scandinavian market, which takes place from 15^th until 17^th November 2022 in Jönköping, Sweden.

Ribeira do Porto has been chosen as one of the treasures of European cinematographic culture by the European Film Academy, which recognizes that this historic area of ​​Porto has a historical value “that must be maintained and protected”.

Hollywood star Keanu Reeves has been spotted taking a break in the Algarve.

The prize giving took place at the Southampton International Boat Show.

The Portuguese Space Agency promotes, for the third consecutive year, the EuRoC – European Rocketry Challenge, a rocket launch competition aimed at European university students. The competition takes place between 11^th and 18^th of October, in Ponte de Sor and Campo Militar de Santa Margarida (Portugal), and counts with the participation of 21 European teams.

Portuguese startup Codacy is helping developers meet the demands of an increasingly digital world. The team has just raised an additional €15.5 million putting the startup in pole position in the market.

The aeronautical company, which already employs 350 people in its Lisbon office, is anticipating to maintain the same pace of hiring next year.

Portugal aims to be an important gateway for Brazilian agribusiness in Europe via the port of Sines, according to Portugal’s ambassador to Brazil, Luis Faro Ramos.

Two major projects announced in Ontario, Canada, this summer epitomize what one might call northern composure — as in calm, serene and self-assured.

Since the Quinta de Faro project arrived in Faro last year, it has been a great success with many buyers purchasing properties and interested in the luxury construction signed off by Joaquim Pires, Portuguese Saint-Tropez developer.

In the first half of this year, Portugal exported 40 million pairs of shoes worth €957 million, which represents a growth of 22% and 27.5%, respectively.

Travelbook, Germany’s largest digital travel publication, has chosen Lisbon as the best destination in the “cities” category for its “positive development” in the area of sustainability and for its “many attractions and activities”.

OLI, Iberian leader in the production of flushing cisterns, extends its range of technologically advanced solutions with the new eLINE, an electronic flush plate that enables the contactless activation of the flushing cisterns.

Despite of tourism being one of the most volatile sectors in periods of high uncertainty, results show a higher survival resilience among established tourism associated firms.

The A-29 light attack aircraft is currently in use with air and armed forces of over 15 nations.

Within the Algarve, the number of dedicated and hard-working businesses is off the scale.

The HR management platform, which raised $150 million at a $2.45 billion valuation last month, is expanding in Portugal on the back of the recent opening of its Berlin office.

"It is a centre dedicated fundamentally to railway signalling, but it will also have a warehouse and logistics to service local projects, and will have a small repair centre," announced the company.

Henley & Partners study reveals changes in millionaires' favourite cities. New York and Tokyo lead the top rankings, although they have recorded losses of up to 12%.

The funding line will be aimed at all sectors and operated by Banco de Fomento. The government expects "it to be on the ground from the second half of October".

Swiss Post is adopting a fresh approach: it is setting up its own European IT development site in Portugal with up to 120 additional employees in the medium term. This step will give the company access to the international labour market to secure the IT skills it will need for the future. It will enable Swiss Post to continue providing people and companies in Switzerland with its high-quality logistics and digital services in future.

Intellias, a global IT services provider with deep automotive expertise is setting up new development centers in Portugal. The company considers Lisbon and Porto as its new office locations. The opening is planned for this autumn. Intellias intends to gather a strong team of local IT experts from Porto, Lisbon, and other Portuguese cities.

Embraer today announced the beginning of the engagement process for OGMA S.A., the Company’s subsidiary in Portugal, to perform support and maintenance for the A-29 Super Tucano, as well as future modifications to the aircraft to meet the requirements of current and future customers in the region.

Airbus Atlantic Portugal inaugurated yesterday its new group premises in Santo Tirso, 30 km from Porto, where it produces components for the Airbus A320 and A350, reinforcing its commitment to the Portuguese aeronautical cluster in an investment of 40 million euros, raised and monitored by AICEP.

The Guinean company has improved its fleet's performance by intelligently using several Frotcom features.

The choice of Portugal was related to the rapid growth seen in the country, which is now "one of the most important technology hubs in Europe, with a lot of talent coming to the country recently".

The Digital with Purpose (DWP) Global Summit is a flagship event for digital leaders that will convene public and private sector decision makers to accelerate the use and uptake of digital innovations that benefit society. Date: 27 September 2022 Location: Altice Arena, Lisbon Portugal.  Registration is open with free tickets available until September 16th, 2022.

The British airline will increase the number of flights to Paris by 50% compared to last winter.

That’s the promise made by the facilities operator company that owns the country’s major airports.

The factory in the Porto district produces parts for the Airbus A320 and A350. The company promises to create more than 250 "highly qualified" jobs.

"We will continue to look at opportunities that may arise in other markets, which we have already looked at in the past," said Eduardo Ramos, CEO of Via Verde, in an interview with ECO.

As we continue on our journey unveiling the jewels of the Algarve, it is only right that we shine the Sunseeker spotlight on the Ria Formosa.

See what the IPBN will offer in Albufeira on September 22.

Corticeira Amorim, the world’s biggest cork processing group, and Hape, the world’s leading producer of wooden toys, have decided to join forces to explore the global market for cork-based toys.

Under the slogan “Le Fado et la Mer”, the Fado Festival returns for 5^{The tenth} The year in Morocco to present a series of concerts in Rabat and Casablanca, exhibition, exhibition and conference.

AICEP and IDC have just launched the second edition of the Business Service Centres in Portugal Report, 2022.

Follow the AICEP Cape Verde LinkedIn page, learn about business opportunities and receive support and advice about this market.

EURAXESS ASEAN is delighted to announce the 6th edition of our annual flagship event 'European Research & Innovation Days in ASEAN'.

"Between the beginning of the year and 31 August, 32,298 new companies were created in Portugal, which represents a growth of 17% compared to the same period in 2021," said Informa D&B in a statement.

From 02 November 2022 to 04 November 2022, a business conference  "Business opportunities in Slovenia" will be held at the Grand Hotel Union, Ljubljana, Slovenia, under the umbrella of the European Women's Handball Championship.

The service provider to the road transport industry, Jaliogi, is officially the new Frotcom Certified Partner in Switzerland, promising to realize the fleet management goals of companies in the country.

The Irish airline wants to open a new training centre for pilots and cabin crew in the Iberian Peninsula.

French equipment rental group acquires the Portuguese Grupo Vendap and establishes a "strong position" in a new market. Kiloutou will continue to develop the Portuguese segment.

The investment round was led by the Portuguese Lince Capital and also included the participation of Portugal Ventures, Olisipo Way and Luís Baptista-Coelho.

The country is an outlier in unicorn generation (7) and startup generation with 2.159 active startups (2022Q1), 13% above the European average per capita.

The source markets that contributed most to the 93.1% occupancy rate per room achieved in August were Portugal, up 5.5 percentage points, and Ireland, up 1.1 percentage points.

The country's medium and long-term national path in energy involves increasing production and supply from non-polluting sources.

The Spanish company wants to bring "connectivity to rural and remote areas of Portugal, thus reducing the digital divide that continues to act as a brake on economic and social progress."

The Portuguese Association of Wood and Furniture will showcase ‘Interior Design Made in Portugal’ at The Hotel Show Saudi Arabia 2022, to be held at Riyadh International Convention & Exhibition Centre (Stand A141, Hall 1), alongside a Trade Mission program.

Dutch and Portuguese AI startup Jungle, a company that develops and applies artificial intelligence to increase the uptime and performance of renewable energy sources, announced on Monday that it has raised €5M in a Series A round of funding.

The amount raised by the Portuguese startup will allow it to develop its cough monitoring technology.

Portuguese footwear exports enjoyed the “best results ever” in the first half of this year.

Throughout the past couple of years, real estate agencies all over Portugal have noticed a new client demand from overseas searching for a new home here, away from the United States. Typically this interest has surged from homeowners in the American Eastern and Western coasts widely due to our serene western location resembling their lifestyle.

"Portugal, its Atlantic seaboard and the port of Sines can be a gateway for energy coming into Europe from a wide variety of sources," explained the secretary of state for European affairs.

The Bank of Portugal (BoP) says expenditure by foreign tourists in Portugal and Portuguese tourists abroad increased 137% and 63% in July.

Last month, the tourist accommodation sector registered 3.0 million guests and 8.6 million overnight stays, representing increases of 6.3% and 4.8%, respectively, compared to July 2019.

"This is the best performance ever of Portuguese footwear in foreign markets, even surpassing the historical maximum of 2017," says the APICCAPS.

A third of everything Mozambique buys from the EU originates in Portugal, according to 2020 data from the Mozambican National Statistics Institute (INE), the most recent available.

The Norwegian startup of residential solar solutions officially began operating on Wednesday in Portugal, its 10th European market, led by the general director for Portugal, Manuel Pina.

In the same period of 2021, the group posted profits of €8 million, compared to negative results of €5 million obtained in 2020.

The global digital technology company is opening a new development hub in the Portuguese city of Porto. Known as Eidosmedia Atlantic, the new centre will draw on the city’s pool of IT talent to maintain the company’s solutions at the forefront of digital publishing technology. Eidosmedia Atlantic will recruit around 35 people by the end of 2023 and continue growing its staff in 2024 and beyond.

Datadog is one of the fastest growing SaaS companies in the world, and we have experienced a lot of exciting changes in recent years.

BlueInvest Africa event will be held on the 7th-8th September 2022 at Eden Bleu Hotel, Seychelles & Online. “Networking Garden Event” on the 6th of September 2022  (For investors, upon invitation only).

Le pays, et notamment la région lisboète, attire de plus en plus de Californiens. Loin de l’agitation quotidienne, de l’insécurité ou des prix trop élevés, ils y trouvent une tranquillité insoupçonnée, un pays sans idées radicales, sûr et bon marché. Tous, ou presque, ont pour projet de s’y installer sur le long terme. Une vague qui n’est pas près de retomber.

In July the Azores surpassed, for the third consecutive month, the numbers of 2019 (pre-pandemic) referring to overnight stays in tourist accommodation, according to estimates by the Service Regional Statistics (SREA).

The Portugal Golden Visa Investment Seminar is coming to Bangkok on September 10 and 11. Secure your spot at the free event here or keep reading to learn more about the benefits of the Portugal golden visa program.

Follow the AICEP UAE LinkedIn page, learn about business opportunities and receive support and advice about this market.

After the "enormous acceleration" caused by the war, Sotecnisol Power & Water anticipates closing this year with a turnover of €8.5 million and, in 2023, wants to internationalise its operation.

According to the Bank of Portugal's figures, in the fourth quarter of 2021, Angolan foreign direct investment (FDI) in country totalled €3.896.83.

The joint venture between the two energy companies, Ocean Winds, will build two new offshore wind farms in Scotland, with an installed capacity of 2.3 GW.

Spain, France and Germany will be the startup's first three international locations.

Portugal’s largest wine producer Sogrape, which produces Mateus wines, is to invest “several millions” in viticulture at its 450-hectare Herdade do Peso estate — which represents 10% of its current vineyard area worldwide.

The electricity distribution arm of Energias de Portugal (EDP) is sticking with plans for capital spending of €550 million on the power grid between 2023 and 2025.

Follow AICEP Poland and Romania, learn about business opportunities and receive support and advice about these markets.

A high-level public-private presentation and panel discussion on current competencies of the Philippines manufacturing industry and the ways its members can assist companies based in Europe in diversifying their footprint and better managing operational risks and costs.

IFEX Philippines is the country’s banner sourcing  program for Philippine and global food and ingredients. Together with IFEXConnect.com, IFEX Philippines serves as a one-stop business-to-business (B2B) platform aiming to optimize their sourcing experience of buyers from anywhere in the world.

According to Eurostat, in the second quarter, Portugal's economy slowed by 0.2% Quarter-on-Quarter (QoQ). Compared to the same period last year, the country’s GDP increased by 6.9%.

Max Stock is preparing to enter the Portuguese and Spanish market, in partnership with Fortera Properties.

In June, Lisbon recorded 1.3 million overnight stays, representing 17.9% of the country's total.

The photovoltaic power plan in the Setúbal district, became operational last Friday and is one of seven projects awarded to the company in a 2019 auction.

Under the auspices of the governments of Serbia, North Macedonia, and Albania, the first international wine fair Wine Vision by Open Balkan” will be held in Belgrade from September 1st to September 4th 2022.

With Frotcom, the Cypriot company has significantly improved its drivers’ driving behavior and reduced fuel consumption by 7%.

The position comes after on Thursday German Chancellor Olaf Scholz came out in favour of a pipeline to transport gas from Portugal through Spain and France to the rest of Europe.

In the 1st edition of Huawei Summer Camp 4 Her, in Cascais, ECO spoke with the chief global impact of Huawei about the balance of the programme and the gender challenges in the sector.

The Greek Economy publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner.

Olaf Scholz had spoken with his colleagues from Portugal, Spain and France and with the president of the European Commission to push for this project.

The wind farm will have an installed capacity of 33 megawatts (MW), and it is planned to install six wind turbines plus a spare of 5.5 MW each.

EDP Renewables says the acquisition of a 70% stake in Kronos Solar Projects will open up the German and Dutch renewables markets to the Portuguese energy company.

Follow AICEP Switzerland and Austria, learn about business opportunities and receive support and advice about these markets.