By Christopher Graeme Posted 19 February, 2025 In Economic ecosystems , Economy , FDI , Investment , News
Porto has once again done well in Financial Times rankings, this time as the Best European City for Foreign Direct Investment Attraction.
It is the fourth year in which the city has been placed among the European cities of the future.
Rui Moreira, the president of Porto City Council said that it was with a “deep and sustained sense of achievement” that Porto had once again been awarded this illustrious distinction; proof of the capacity that this city has to develop a strategy of promoting investment in line with the most successful cities in Europe.”
The distinction is made annually by fDi Intelligence which considers Porto “an important talent hub” in areas such as science, technology, engineering, and mathematics, as well as being an “emerging center for digital business innovators.”
Referring to the continuous “development of clusters in digital services and IT”, which had contributed to attracting large multinationals, the FT quoted the mayor as saying that it was with a sense of “mission accomplished” that Porto “once again receives this recognized distinction”.
In a statement, the municipality said this recognition was (adds fDi Intelligence), largely down to the “economic development strategy promoted by InvestPorto” – the municipal entity specialized in attracting and facilitating foreign direct investment projects, whose “support for companies has already resulted in an investment that exceeds €2Bn and in the creation of close to 28,000 local jobs”.