Portugal targets high-tech sectors to boost competitiveness

Portugal is focusing on strategic technological sectors to boost foreign direct investment and global competitiveness. According to an EY-Parthenon study, the country must transition from a period of resilience to a focus on productivity and competitiveness over the next decade.

Key priority areas for investment include artificial intelligence, cloud computing, data centers, renewable energy, life sciences, biotechnology, and defense technologies. Strengthening these knowledge-intensive ecosystems is seen as essential for increasing value-added productivity.

In the defense and aerospace sectors, AED Cluster Portugal has grown to include over 190 members, including companies, universities, and research centers. José Neves, president of the cluster, emphasized that while Portugal possesses the technological and industrial skills to compete internationally, the sector requires coordinated efforts in qualifying, attracting, and retaining talent to meet future demands.

However, challenges remain, including capital availability following the conclusion of the Recovery and Resilience Plan (PRR) and the ongoing need to improve productivity to attract and remunerate labor and capital effectively.