Portugal’s investment in Lusophone coutries falls 78 pct in 2013

Portugal’s direct investment in Portuguese-speaking African Countries (PALOP) and Timor-Leste (East Timor) fell 78 percent in 2013, according to figures released this week by the Bank of Portugal in Lisbon.
The document, which summarises “Portugal’s economic and financial relations with the PALOPs and Timor-Leste,” issued as part of the Lisbon meetings between the central banks of those countries, showed that investment in those countries fell from 7 percent of total foreign investment in 2012 to 1.8 percent in 2013.
The Bank of Portugal, noting that Portuguese investors invested 246 million euros in those countries in 2013, said that Angola was the main recipient of Portuguese investment with 53 percent of the total, followed by Mozambique with 38 percent.
The Portuguese central bank said most of the Portuguese investment in those countries was in the financial sector (52 percent), followed by construction with 25 percent, which incidentally received a quarter of all Portuguese foreign investment.
“Direct investment by PALOPs and Timor-Leste in Portugal totalled 87 million euros, a decrease of 62 percent compared to 2012,” the report said whilst noting that 95 percent of this investment originated in Angola and was focused on financial activities and construction.  MDT/Macauhub