Chinese Automakers Chery and XEV Ponder Investing in Portugal

 

At least five Chinese companies are considering setting up factories in Portugal, including car manufacturers Chery and XEV, the Chinese ambassador in Lisbon told Lusa.

“Currently some Chinese companies such as Tederic, Ningbo David Medical Device, Shyahsin are preparing to build factories in Portugal, other companies in the field of electronic vehicles such as Chery and XEV have also demonstrated their interest in building plants in Portugal, and are undergoing market research,” said Zhao Bentang.

CALB is already planning to build a lithium battery factory and has received the green light from APA (Portuguese Environment Agency), Zhao Bentang further informed, noting that the construction of this factory should be reflected in “localization of the industrial chain of vehicles with new energies and also for the low-carbon transition of Portugal”.

China Tops Planned Investments in Portugal Thanks to CALB

The ambassador also predicted that the enterprise Parque de Oeiras, a joint project of China State Construction Engineering Corporation and Teixeira Duarte, may begin to be built this year, thus creating “conditions to attract more foreign investments and create more favourable conditions for the economy of Oeeiras”.

Given the involvement of a Chinese company in the Oeiras project, “investments from Chinese companies in the area of new energies” could be attracted in the future.

“We hope that the Portuguese Government can continue to create an open, fair, equal and indiscriminated environment for foreign companies. To protect the legitimate rights of foreign investors and offer a safe and stable development environment in the long term”, 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 argued.

Huawei Ban From Portugal´s 5G “an Exclusively Technical Decision”

The ambassador recalled that Portugal is one of “China’s most friendly countries in the European Union and a global strategic partner, sharing good relations in the areas of politics, trade and also friendship between the two peoples”. Portugal, he says, is also one of the main investment destinations of Chinese companies, and last year China’s direct investment exceeded 386 million euros, an increase of 34.52%. The direct investment stock exceeded 3.6 billion euros, an increase of 12.2%.

The Chinese Ambassador also said he expects Beijing to include Portugal in the next phase of visa waiver, a gradual process based on the volume of trade, personal exchanges and cooperation projects between the two countries.

“In the next phase, with enlargement, I think that Portugal will be included in the visa-free list [of entry into China]. To promote a measure, a policy, a gradual process is always necessary”, the diplomat told Lusa, noting that the first countries on Beijing’s list “have more personal and business exchanges or have more cooperation projects”, and therefore greater need for travel to China.

China excludes Portugal from visa free policy

This is a policy implemented “according to the real needs”, the dipomat stressed.

At the moment, it is unknown the next date to review the visa-free countries, but Zhao Bentang assured that the relationship between Portugal and China “has no problems, nor obstacles” and that several measures have been implemented to facilitate obtaining visas.

 

Other articles

Portugal

CRRC Tangshan With Most Competitive Bid for Lisbon Metro Carriage Supply

Portugal

Portugal to Gain Visibility on Chinese TV Channels as Top European Tourist Destinations