Pedro Cilínio
Portugal’s vice-minister for Economy, Pedro Cilínio, yesterday said his country wants to broaden ties with the Chinese region beyond cultural links, eyeing investment in renewable energies and the blue economy.
“Macau has so far been explored very much in a logic of what the cultural ties with Portugal are. We want to go beyond that,” Cilínio remarked, in an interview with Lusa News Agency on the sidelines of the inaugural C-PLPEX in Cotai.
Cilínio emphasized that while cultural connections provide a base for potential future business development, Portugal is keen on exploring other sectors that are “enhanced by the Portuguese presence in the territory.”
He cited renewable energies and the blue economy as prime examples, recognizing the representation of companies in these sectors at the
C-PLPEX.
He noted the significant representation of the Global Ocean Forum at the event, underlining the importance of the blue economy for the Greater Bay Area’s development.
“Portugal, in this scope, has a set of ‘know-how’ specialties that can enhance these types of connections,” he told Lusa.
Addressing the hurdles faced by Portuguese entrepreneurs entering the Chinese market, Cilínio acknowledged continuous efforts to “identify the difficulties and find the solutions” to foster smoother market entry in the future.
In the interview with the Portuguese agency, he underscored the Greater Bay as a “very interesting project,” with a clear vision and many steps ahead to facilitate business for Portuguese-speaking countries in the region.
Moreover, marking a new chapter in Sino-Portuguese economic cooperation, Cilínio reflected on the initial phase where Chinese investments were made in strategic assets in Portugal.
According to Lusa, he now sees a shift towards concrete investment intentions in pivotal areas like electric mobility and sustainability, aligning with European interests.
In the first half of this year, Chinese investment in Portugal saw a 10% increase, amounting to around 3.5 billion euros, highlighting a “promising trajectory in bilateral economic engagements,” he concluded. PC
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