Portuguese region Ribatejo dominates the Belgian market
The Business Association of Santarem Region, Nersant, is making strides to connect small and medium-sized enterprises (SMEs) in the Ribatejo region with foreign investors, with a particular focus on the international market.
Amidst the challenges posed by the pandemic, there's a glimmer of hope for the trade relationship between Portugal and Belgium. Rui Faria da Cunha, President of the Belgian-Portuguese Chamber of Commerce, anticipates a resurgence of trade growth in the near future.
Belgium is a significant destination for Portuguese exports of goods, ranking as the 8th market, according to Rui Paulo Almas, AICEP's delegate in Brussels. Moreover, Belgian companies are increasingly willing to invest in the Portuguese market, particularly in the Ribatejo region.
Recognising the potential of the Ribatejo region, Lourenço Van Innis, Project Manager of Promiris, a real estate investment company, has already invested 50 million euros in Portugal since 2017. With plans to double that investment in the next five years, the Ribatejo region might well be on the receiving end of this expansion.
To further promote the region, Nersant organised a webinar titled "Doing business in Ribatejo" in Brussels. The event aimed to showcase the Ribatejo region as an attractive destination for foreign investment, presenting opportunities in key sectors like agriculture, tourism, infrastructure, or industry.
The webinar featured speakers such as Rui Faria da Cunha, government officials, regional development agencies, business leaders, and investment promoters. Discussions revolved around incentives, infrastructure readiness, and support for investors in the Ribatejo region.
The Ribatejo Region, home to diverse landscapes, rich history, gastronomy, and architectural wonders, with Santarem, the capital, being a notable city, offers political and economic conditions that facilitate foreign investment. The region has more than 48,000 established companies with notable business activity.
Moreover, the Ribatejo Region has implemented incentives for research and innovation projects, resulting in a gross value added (GVA) of over 6.8 billion euros. The region also offers the advantage of being a gateway to the single European market with over 500 million consumers.
With the infrastructure to support foreign entrepreneurs and programs for these investors, the Ribatejo Region is positioning itself as an appealing destination for Belgian companies looking to invest in Portugal. As of December 2020, the stock of Foreign Direct Investment (FDI) originating in Belgium had reached 1.856.9 million euros.
As a result of events like the "Doing business in Ribatejo" webinar, there has been an increase in requests for information from Belgian companies interested in exporting, investing, or producing in Portugal. This trend is indicative of a growing interest in the Ribatejo region as a prime location for foreign investment.
- Lourenço Van Innis, a Project Manager at Promiris, has already invested 50 million euros in eco-friendly activities in the Ribatejo region, with plans to double that investment in the next five years, further attracting Belgian companies to invest in the region's sustainable businesses.
- The Ribatejo region's focus on promoting its eco-friendly and investment-friendly initiatives, such as the webinar "Doing business in Ribatejo" and the implementation of incentives for research and innovation projects, makes it an attractive destination for Belgian financing and investing.
- In line with the increasing interest in the Ribatejo region as a prime location for foreign investment, the Business Association of Santarem Region, Nersant, aims to offer further financial support to small and medium-sized enterprises (SMEs) in the Ribatejo region, enabling these businesses to compete effectively in the international market.
