Search Results

Portuguese dishes are among the Best Traditional Food in the World according to the Taste Atlas ranking. Portugal’s Clam dish “Amêijoas à Bulhão Pato” prepared by “A Marisqueira de Matosinhos” in Porto ranks 3rd Best Dish in the World, with the Top 2 being the Japanese “Kare” stew, followed by the Brazilian meat cut “Picanha”. More Portuguese dishes appear in the Best Traditional Food in the World ranking, with pork dish “Carne de porco à Alentejana” prepared by Tasca do Celso in Vila Nova de Milfontes being at the 25th place, chicken dish “Frango assado com piri piri” prepared by Restaurante O Teodósio” in Guia being at the 34th place and pork dish “Leitão da bairrada” prepared by Pedro dos Leitões in Mealhada at the 89th place. It is advisable to add a pleasant tasting experience to any New Year’s Resolutions List in order to sweeten the road ahead and Portugal is in the Top 3 destinations where tasting the traditional cuisine is essential. Source: https://www.portugalbusinessesnews.com/post/portuguese-dishes-best-in-the-world #portuguesedishes #portuguesecuisine #besttraditionalfoodintheworld #TasteAtlas #AmêijoasàBulhãoPato #Portugueseclamdish #AMarisqueiradeMatosinhos #TascadoCelso #RestauranteOTeodósio #PedrodosLeitões #top3bestdishes #portugalnews #portugalbusinessnews

Portugal’s Prime Minister described a new Start-up Law on December 22nd. According to the new Start-up Law, Start-ups are defined as being micro, small and medium enterprises that use an innovative business model with a technological base and that have a high-growth potential. Under this definition, Start-ups and Scale-ups have similar characteristics with the latter being larger. Such businesses play a fundamental role in the digital transformation of enterprises and lead to a paradigm shift towards innovation and an improved knowledge base. This is why it is important to develop a regulatory framework that provides incentives for enterprise creation in line with the Government’s Programme and with the Ministerial Declaration on EU Startup Nations Standard of Excellence signed by the Government under the 2021 Portuguese Presidency of the EU Council. The new Start-up Law lays-out the legal definition as well as the goal that is to promote the national ecosystem for entrepreneurship. This includes defining specific investment policies and is linked to the Taxation system. The regime is based on share options plans which are central to attracting professionals who are qualified in the field of new technologies that are highly relevant to the Start-up system in the launch phase. The new Taxation system will ensure that taxation only occurs when the income is effectively received and will guarantee that workers will only be taxed when the transfer of shares is completed. Portugal’s new Start-up Law is in line with the most efficient legislations at EU level, thus ensuring the best conditions for the creation and development of Start-ups in the Tech sector as well as in the field of disruptive technologies. The Law will foster an economy that is aimed at high growth in the fields of digitalization and innovation. Source: https://www.portugalbusinessesnews.com/post/portugal-s-new-start-up-law #Portugalstartuplaw #portugalstartuptaxation #portugaltech #portugalnews #portugalbusinessnews

President Biden signed the US-Portugal legislation under the National Defense Authorization Act on December 23rd, in order to boost trade and investment. The Advancing Mutual Interests and Growing Our Success (AMIGOS) Act makes Portuguese nationals eligible for Trade and Investor temporary entry visas. This new Law will also strengthen the economic ties between Portugal and the US. Although most European countries had pre-existing bilateral investor treaties with the United States before joining the EU, Portugal was not a treaty-county. However, Portugal is an important cultural and business partner of the United States, as bilateral trade with Portugal reached $8.9 billion in 2019, that is a six percent increase compared to the previous year. According to US Congressman Cicilline, the thriving Portuguese-American community in the US, and especially on Rhode Island, has made rich contributions to the fabric of society in various sectors including arts, culture, business, and public service. Therefore, the Act aims at breaking down barriers that currently limit Portuguese investments in American businesses and will also grow an already strong relationship between the two countries. The U.S. Citizenship and Immigration Services (USCIS) website states that the E-1 non-immigrant visa allows a national of a country with which the United States has a Trade treaty to obtain a 2-year Business Visa when investing in a U.S. business. Qualified treaty investors and employees may request an extension of stay, which may be granted in increments of up to two years each, while there is no limit to the number of extensions that can be granted. Source: https://www.portugalbusinessesnews.com/post/biden-signs-us-portugal-legislation #USPortugal #PortugalUS #USPortugallegislation #NationalDefenseAuthorizationAct #AMIGOSACT #USPortugaltradeandinvestment #portugalnews #portugalbusinessnews

Portugal Registers 6.8% Economic Growth according to Portuguese Minister of Finance. This figure is much higher than the 2023 State Budget forecast of 6.5% and shows that a pessimistic outlook is far below the registered figures. It also proves that the Portuguese economy is resilient and exemplary when taking into account the external context as well as rising energy prices. Portuguese Minister of Economy, António Costa Silva, added that exports will reach 50% of GDP for 2022. Despite the expected global economic slowdown in 2023, these factors contribute to a positive outlook due to Portugal’s resilience that may even lead to economic growth. Portugal’s Government does not have a policy for reducing VAT on food products as they believe that direct support is more effective. However, the Government does not have a strict policy and prefers continuous evaluation to determine what measures are most effective. Source: https://www.portugalbusinessesnews.com/post/portugal-registers-6-8-economic-growth-exports-reach-50-of-gdp #portugaleconomy #portugalexports #portugaleconomicgrowth #AntónioCostaSilva #portugalnews #portugalbusinessnews

Portugal is one of the countries with the highest crypto-asset trading volume as it ranks 8th out of 31 countries. The volume of crypto-assets traded between June 2021 and June 2022 shows a growth of nearly 5%, reaching around € 30 billion according to Chainalysis. This volume accounts for 14% of Portugal’s GDP in 2021. Since April 2021, Portugal’s Central Bank, Banco de Portugal, is regulating entities that trade virtual assets such as cryptocurrencies in order to prevent money-laundering and financing terrorism. As from January 1st, 2023, the new tax regime on cryptocurrencies will be enforced. Portugal has attracted a large number of investors in the field of crypto-assets and is a growing market for crypto exchange-traded funds. Portugal’s FinTech ecosystem attracted over €1 billion in total funding and is attracting major international players. In Lisbon only, Tech Start-ups are worth EUR 21.4 B in 2022 compared to EUR 816 M in 2016 according to a new report by Dealroom. Portugal’s Fintech ecosystem is attracting important players in decentralized finance and in the cryptocurrency sector. Since 2021, the first Fintech trading in cryptocurrencies to be registered by Portugal’s Central Bank, Criptoloja, allows for deposits and withdrawals in Euros. Portuguese Fintech Criptoloja makes it possible for clients to buy, sell, receive and send Bitcoins and other crypto-currencies. Pedro Borges, one of its founders, believes that Portugal’s cryptocurrency market is developing. Criptoloja is now launching its new product, virtual currency tokens that represent tradeable assets using blockchain technology. While Crypto coins allow individuals to make payments using their digital currency, tokens can be used for additional purposes, as they may be used to store value or to make purchases. Tokens can also be bought and sold using cryptocurrencies. In 2023, Portuguese Criptoloja will develop its tokens market and is planning to extend its operations to Spain. The market for virtual assets and crypto-currencies in Portugal is quite new but there is growing demand and a high trading volume as a percentage of GDP. Source: https://www.portugalbusinessesnews.com/post/portugal-s-crypto-market #cryptomarketportugal #cryptotradingportugal #fintechportugal #Criptoloja #cryptocurrenciesportugal #virtualcurrencytokens #portugalnews #portugalbusinessnews

Vogue ranks Portugal’s Douro at the 9th place in their newly published list of Best Places to Travel in 2023. Portugal’s Douro is trending and is considered one of the best destinations worldwide for 2023. According to Liam Hess, Portugal’s Douro Valley is a must-see for travelers who are looking for some of the most eye-popping scenery in all of Europe with its lush, dramatic slopes at just over an hour’s drive from Porto in northern Portugal. The drive will take you along narrow, snaking roads that descend from the mountains where it feels like entering another world entirely. The drive will take you through the idyllic vineyards and charming villages that dot its hillsides. The Douro Valley wine region, with its delicious wine and breathtaking scenery, will carry you to a place with timeless beauty that is full of history. Its ancient pilgrimage town of Lamego is renowned for its grand tiled staircases and majestic churches while the countryside blends in with luxury properties such as the Six Senses. According to Vogue, Portugal’s Douro valley is a place to kick back, relax, and enjoy the good life, Portugal-style. Vogue ranks 12 Best Places to Travel worldwide in 2023, highlighting Guatemala, Yukon Territory in Canada, the Arctic, Málaga in Spain, Benguerra island in Mozambique, Basilicata in Italy, Japan, Edinburg in Scotland, the Douro Valley in Portugal, Singapore, Patagonia National Park in Chile and Rome. So, if you are wondering what are the best places to travel to in 2023, these are the destinations that are recommended by Vogue’s panel of hospitality experts, with Portugal’s tranquil Douro Valley deemed to be an experience not to be missed. Source: https://www.portugalbusinessesnews.com/post/vogue-ranks-portugal-s-douro-in-its-top-10-best-places-to-travel-in-2023 #VoguerankingPortugal #BestPlacestoTravelin2023 #DouroValley #portugaltourism #portugalnews #portugalbusinessnews #Vogue #Portugal

The Economist just ranked Portugal as the 2nd best-performing economy in the OECD in 2022. In an article ranking 2022’s unlikely economic winners, Portugal is a shining example in a period that was especially dark, with inflation reaching 10% year-on-year across the developed world and stock-markets plunging by 20%. Despite the bleak economic outlook of most developed countries, there are verified asymmetries with Portugal’s economic performance highlighted by The Economist. In order to evaluate differences between countries’ economic data, The Economist compiled statistics on five indicators for 34 developed nations, namely the GDP, inflation, the inflation breadth, stock-market performance and Government debt. Each country was ranked according to its performance for each indicator in order to obtain an overall indicator score. The country score showed unexpected results… While ushering in 2023, Portugal can look forward to brighter economic prospects based on a solid performance in 2022. Portuguese businesses have registered strong growth and start-ups have done exceptionally well. Lisbon Tech Start-ups are worth EUR 21.4 B in 2022 compared to EUR 816 M in 2016 according to a new report by Dealroom. The combined enterprise value of start-ups founded and headquartered in Lisbon has grown 27 times since 2016. Moreover, the figures for the exports of goods and services have reached historical highs and an increasing number of foreign companies are investing in Portugal. In addition to this, unemployment rates have remained low and there is significant investment in R&D and innovation, as well as major developments in energy transition and in the Green economy. Statistics for 2022 have revealed Portugal’s exceptional economic performance as well as the outcome of measures implemented by various Government bodies promoting Trade and Investment as well as start-ups that are having strong spill-over effects going towards 2023. Source: https://www.portugalbusinessesnews.com/post/the-economist-ranks-portugal-2nd-best-performing-economy-in-the-oecd-in-2022 #TheEconomistPortugal #PortugalOECDranking2022 #PortugalTheEconomist2022 #Portugaleconomy2022 #Portugaleconomy2023 #AICEP #TheEconomist #portugalnews #portugalbusinessnews #startuplisboa

Energias de Portugal (EDP) just announced that they have completed a sale amounting to U$ 68 million for their 50% stake in Hydro Global to China International Water & Electric Corporation (CWE), a company that belongs to the China Three Gorges Corporation (CTG). Hydro Global Investment is based in Hong Kong and is a 50-50 joint venture between EDP and CTG. The company is currently developing a 209 MW hydro project in Peru. EDP’s 50% stake in Hydro Global was acquired by the China International Water & Electric Corporation (CWE), that is a state-owned enterprise of the People’s Republic of China with activities focused on contracting overseas engineering projects. CWE has a registered capital of RMB 500 million yuan. With this new development, the holding company CTG will have a 100% ownership of the hydro project in Peru. The sale of its stake in Hydro Global is in line with the goals set out by EDP while they maintain their focus on renewable energy. EDP’s strategic plan for 2021-2025 focuses on their commitment towards becoming a leader in the energy transition with the aim of becoming a fully Green company by 2030. Source: https://www.portugalbusinessesnews.com/post/edp-announces-sale-amounting-to-u-68-million #EDP #HydroGlobal #ChinaInternationalWaterandElectricCorporation #ChinaThreeGorgesCorporation #portugalnews #portugalbusinessnews

R&D spending in Portugal reached a historical high in 2021 with EUR 3,609 million, that is 1.68% of GDP. According to a study on Portugal’s Scientific and Technological potential, R&D spending as a percentage of GDP has been increasing steadily for the last six years. The outcome supports the fact that there is greater convergence with EU criteria. R&D spending increased by 8.1% compared to 2019 and by around 40% compared to 2017 when it amounted to 1.3% of GDP. Portugal registered a higher investment in all economic sectors. The business sector increased its investment in R&D with spending increasing by 16.8% in 2021 to reach EUR 310 million. Private non-profit institutions registered an increase of 23.8%, while Government spending in R&D increased by 6%. The business sector accounts for 60% of national spending in R&D. This reflects higher growth in qualified employment as well as their commitment towards scientific and technological development. In Portugal, the number of people working in the R&D field increased by 5.6% going from 66,044 in 2020 to 69,769 in 2021. The study by the national statistical system is carried out according to the criteria established by Eurostat in line with OECD regulations. Source: https://www.portugalbusinessesnews.com/post/r-d-spending-in-portugal-reaches-record-high #RDportugal #scienceandtechnologyportugal #portugalnews #portugalbusinessnews

Women Business Angels have had an impact on Portugal’s thriving Start-Up scene in 2022. Angel investors provide financial backing for small start-ups and are usually their primary source of funding. The support of Business Angels is fundamental for the creation of Start-Ups and SMEs and leads to the development of innovative products and services that have an impact on economic growth. The term Business Angels was coined when describing wealthy patrons who invested in Broadway theaters. The term was first used in a study by William Wetzel, the founder of the Centre for Venture Research, on how entrepreneurs obtained capital. Angel investing has grown in Portugal and the field has attracted female talent that was recognized by several organizations such as EU-Startups. Here are some of Portugal’s Top Women Business Angels in 2022: 1) Ana Paula Reis Ana Paula Reis is based in Lisbon. She is a member of the Portuguese Business Angels association and is the co-founder of BridgeWhat, a Growth-as-a-service digital platform. She obtained the Investor of the Year 2020 Award issued by the South Europe Startup Awards. She is also the co-founder of SelPlus-SelData that achieved more than €900 million of client sales according to EU-Startups. 2) Yonca Braeckman Yonca Braekman is the founder and CEO of Impact Shakers, that helps build and scale ventures, with headquarters in Lisbon. She has launched the Impact Shakers Award to help create a fertile environment in which impact driven Start-Ups can grow into strong and scalable businesses. Yonca was ranked in the “Top 100 Women in Social Enterprise” in 2022. 3) Maria Semedo Maria Semedo is a IAPMEI Certified Business Angel based in Porto. She is the Executive Director of Vega Ventures that operates through a number of investment vehicles including Creative Wings, Green Capital and iSmart Ventures. She is also a Horizontal-Entrepreneurship Expert at EIT InnoEnergy as well as an Independent Expert for SME Instrument and Fast-Track to Innovation at the European Commission. Maria’s work was recognized at the ISCTE-IUL MIT-Portugal Venture Competition Semifinals in 2011. Business Angels in Portugal are promoted by the Investors Portugal association. The association represents the whole early-stage investor ecosystem and thus also includes VCs for the follow-up on investment. Portugal’s Start-Up scene is thriving with Lisbon Tech Start-Ups that are worth EUR 21.4 B in 2022 compared to 816 M in 2016 according to a new report by Dealroom. Source: https://www.portugalbusinessesnews.com/post/portugal-s-top-women-business-angels-in-2022 #womenbusinessangels #businessangelsportugal #startupsportugal #angelinvestorsportugal #AnaPaulaReis #BridgeWhat #SelPlusSelData #EUStartups #YoncaBraeckman #ImpactShakers #MariaSemedo #VegaVentures #CreativeWings #GreenCapital #iSmartVentures #EITInnoEnergy #InvestorsPortugal #investmentportugal #portugalnews #portugalbusinessnews

CDP just published the 2022 list of Top Green Companies globally and 4 Portuguese companies made it on the global ranking. In 2022, Europe was home to nearly 50% of ‘A’ companies with 8 out of 12 'Triple A' companies globally. A ‘Triple A’ is obtained when a company obtains an A score in the Forests, Climate-Change and Water Security segments. Within Europe, 20% of all A List companies are from the United Kingdom, followed by France, Spain and Germany. Portugal figures on the global ranking with a ‘Double A’ score. CDP assessed nearly 15,000 companies for their 2022 ranking and only a select few made it to the A-List. The 2022 index of Green Companies globally ranks 283 companies making the Climate-Change A-List, 25 companies making the Forests A-List and 103 companies making the Water-Security A-List. Without further ado, here is the 2022 Top Green Companies in Portugal: No. 1: EDP – Energias de Portugal S.A EDP is global company that is present in 29 countries. The company aims at leading the energy transition through sustainability. Their mission is to become completely Green by 2030, for tomorrow is now through the transition towards renewable energy. EDP ranks high in CDP’s 2022 A-List of companies that are leading the way on environmental action. In the Climate segment, EDP scored an A. In the Water Security segment, EDP scored an A. No. 2: Jerónimo Martins SGPS SA With more than 4,900 stores spread between Portugal, Poland and Colombia, Jerónimo Martins is a team of food experts specializing in Food Distribution and Specialized Retail. With more than 230 years of history in Food Distribution, the company’s vision is to democratize access to quality food products. In the Climate segment, Jerónimo Martins scored an A. In the Water Security segment, Jerónimo Martins scored an A. No. 3: NOS SGPS According to Miguel Almeida, the CEO of NOS, the company aims at being at the forefront of technology, with the best communication networks as well as the simple and efficient integration of technologies such as 5G, AI, Cloud and the IoT with a human touch. In the Climate segment, NOS scored an A. No. 4: The Navigator Company The Navigator Company is one of Portugal’s strongest brands and is a leading force in the international pulp and paper market. Its gKRAFT brand aims at reducing the use of fossil materials such as plastics in favor of renewable and biodegradable forest-based materials to help build a sustainable future. In the Climate segment, The Navigator Company scored an A. 2022 is a year of growing environmental concerns globally, from extreme weather to unprecedented losses in the natural environment, calling for urgent and collaborative change amongst stakeholders. CDP is the largest environmental database world-wide, assessing nearly 15,000 companies in the fields of climate-change, forestry and water-security. The annual ranking of companies globally aims at being a catalyst for transitioning towards a net-zero, deforestation-free and water-secure world. As companies are responsible for around 70% of global emissions, they will make or break the transition towards a Green future. Moreover, more that 680 investors with over U$ 130 trillion in assets are using the information that is disclosed by 18,700 companies that are worth over half of the global market-capitalization in 2022. CDP reported that major buyers with U$ 6.4 trillion in procurement spend have requested their suppliers to disclose information through their platform. According to the 2022 ranking, European companies are making a significant impact towards the Green transition, with Portuguese companies highlighted in the select A-list of global Green companies. Source: https://www.portugalbusinessesnews.com/post/top-4-green-companies-in-portugal-in-2022 #TopGreenCompaniesPortugal2022 #CDPlist2022 #ClimateChangeRanking2022 #EDP #climatechangecompanies #watersecuritycompanies #JerónimoMartins #NOS #MiguelAlmeida #TheNavigatorCompany #greennews #portugalnews #portugalbusinessnews

Amgen pharmaceuticals, that invested €100 million in Portugal in October, just announced that it is buying Horizon Therapeutics for € 26.3 billion. Amgen intends to increase its portfolio of therapies applied to rare diseases, a field in which Horizon Therapeutics specializes. According to Tim Walbert, CEO of Horizon Therapeutics, the biotech company is deeply committed to treating patients suffering from rare inflammatory diseases as well as from serious autoimmune conditions. With this new acquisition, Amgen will support long-term growth by developing innovative medicines. This new development follows Amgen’s recent investment in Portugal where the biopharmaceutical company created the Amgen Capability Center Portugal (ACCP) that is to employ 300 people within 3 years. The Amgen investment is labeled a Project of Strategic Interest for the Portuguese economy. Amgen’s Centre of Excellence in Portugal is the second one world-wide following the first one launched in the USA in 2017 and the acquisition of Irish biotech company Horizon Therapeutics is expected to boost Amgen’s annual results in 2024. Source: https://www.portugalbusinessesnews.com/post/amgen-buys-horizon-therapeutics-for-26-3-billion #Amgen #HorizonTherapeutics #TimWalbert #AmgenCapabilityCenterPortugal #biotechportugal #pharmaceuticalportugal #portugalnews #portugalbusinessnews