The port is closest to the United States shale basins on the east coast and is in the same direction as the Panama Canal. American companies wanted to expand the port’s liquid natural gas terminal to increase their gas exports to the continent, which would reduce Europe’s dependence on Russia. The United States ambassador in Portugal, George Glass, said that the investment proposed by the USA would convert Sines into “Singapore from the West”. China, on the other hand, aims to build a mega port of containers there. It is a €640 million project that can play a key role in the Belt and Road Initiative, of which Portugal has been a part since 2018.
At the time, President Xi Jinping borrowed an ancient Chinese saying to describe the bilateral relationship: “A partnership forged with the right approach defies geographical distance; it is thicker than glue and stronger than metal or stone.” Portugal’s President Marcelo Rebelo de Sousa reciprocated with a state visit to Beijing in late April that also coincided with the 2nd Belt & Road Forum.
It also becomes important to mention that the relations between Portugal and the United States of America started as early as the USA itself, as an independent country. Following the American Revolutionary War, also known as the American War of Independence, Portugal was the first neutral nation to recognize the United States of America as an independent country and establish diplomatic relations between both entities. Portugal is hence on track to become a United States E1 and E2 treaty country, which will allow new Portuguese citizens to live and work in the US. Read more about how Portugal - USA relations are strong and have a great future ahead.
Chinese investors have become the biggest single shareholders in Portugal’s leading power and national grid utilities, and in 2018, the two-way trade exceeded €10 billion, an increase of more than 7% from the previous year. This thanks to Chinese firms have invested vast sums in a lot of Portuguese sectors: electricity, oil, transport, financial services, insurance, health, real estate, hospitality, and the media, to name a few, turning Portugal into a recipient of Chinese investment per capita in Europe, after the crisis, in 2014.
The rising economic footprint of China in Portugal has drawn both Washington and Brussels’ attention. Ambassador Glass warned last month, November, that if Portugal continues with Huawei’s 5G network, sanctions could be imposed on Portuguese companies with Chinese investment, adding that it would have consequences in terms of security and defense if they do so. In response, the Portuguese Prime Minister, António Costa, argued that Chinese shareholders in Portuguese companies play an essential role in providing stability and development and alerted Brussels that the misuse of new security procedures for screening Chinese investments could lead to Europe becoming more protective.
The port of Sines, located 100 kilometers south of Lisbon, has always been coveted by foreign powers for its geostrategic importance. Romans, Visigoths, and Moors established settlements along with its deepwater port. It was from here that Vasco da Gama set out to build Portugal’s maritime empire in the 15th century, creating Portuguese colonies in Goa, India, and Formosa and Macau, China, having returned the latter to the Chinese only in 1999.
Portugal Homes’ Guide to Portugal
Go through some highlights of the Portuguese beautiful territory with the extensive guide on our website! Here you can find more information on some of the best real estate investment areas in the country.
A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.
Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!
Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.
Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!Investidor dos EUA
Very helpful. Work with his heart. Mark is a very nice advisor.Investidor de Marrocos
Tudo correu lindamente. Consegui esclarecer todas as minhas questões.Investidor da Turquia
Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.Investidor dos EUA
A experiência geral foi ótima desde o acompanhamento até o pós-venda. Gostaria de agradecer especialmente ao Sr. Simon, à Sra. Francisca e à Sra. Mariana.Investidor dos EAU
George Hobson é um jovem agradável, conhecido como conhecedor, experiente, trabalhador, honesto e disciplinado; Senti-me muito confortável em fazer facilmente o meu investimento.Cliente dos Emirados Árabes Unidos