Latest news and stories about job creation in finance in Portugal for expats and residents.
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WEG is expanding its logistics operations in Portugal by constructing a new 7,500 m² warehouse, enhancing its European manufacturing network. This investment boosts capacity for producing medium- and high-voltage motors, enabling faster delivery for industrial clients. The Portugal site plays a key role in engineering, logistics, and lifecycle services across Europe, supporting WEG’s focus on energy efficiency, automation, renewable energy, and electric mobility. The expansion also paves the way for future local production of electric vehicle chargers, reinforcing WEG’s position in electric mobility and energy transition efforts in Europe.
The best protection for a worker is not to make them a hostage to an untouchable job, but to provide them with a market where they can enter more easily, change jobs with less fear, and progress with more room for growth.
'Politicians insist on this trend of centralism, and then complain about abandonment and populist parties that are gaining voters,' warned the director of the Faculty of Economics of Porto (FEP) this Tuesday. To reverse this trend, Óscar Afonso pointed out that the solution would be to 'invest in less congested territories with underutilised potential, making them attractive and...'
A new sports footwear factory is set to open in Barcelos later this year, initially creating 210 jobs, with that figure expected to rise to 580 by 2030. The facility, named Advanced Shoe Factory (ASF 4.0), covers 4,200 square metres and is being built in the parish of Silveiros. The first phase, starting in July, will feature two production lines with an annual capacity of 500,000 pairs, primarily for the brand Salomon. The project, supported by the Barcelos Municipality's Investment Support Office, is part of an industrial investment round involving figures such as Carlos Tavares and Teddy Riner, and is backed by the French group Chamatex.
The footwear factory is a “very important investment” as it serves as an “anchor for new investors in the municipality,” says the Mayor of Barcelos. The project also includes plans for two expansions.
Vicky Foods has reached an agreement with Adam Foods to acquire the bakery brand Panrico, including key industrial assets such as the Gulpilhares factory in Portugal. The facility spans over 50,000 square metres and features three sliced bread production lines with an annual capacity of 21,000 tonnes. The deal, the value of which remains undisclosed, covers both the Portuguese and Spanish markets and strengthens Vicky Foods' position in the bread category, which has been its primary business line by sales volume since 2022. Last year, Panrico generated over 23.8 million euros in revenue across both markets.
SMEs continue to be the main engine of the Portuguese economy. They represent 99.9% of the country's companies and account for about 63.6% of the gross value added generated in Portugal. More than just a statistical indicator, this figure reflects a structural reality that demonstrates that the country's economic dynamism depends, to a large extent, on the capacity...
A total of 11,000 companies have applied for exemption from the Single Social Tax (TSU), amounting to an estimated 200 million euros in total.
The Government has actively engaged in revising labour law, presenting a draft bill on 24 July and reconvening the Permanent Commission for Social Dialogue in September. Following several meetings with business confederations and the UGT, a significant meeting is scheduled for 3 March to further discuss the labour law reform, indicating ongoing negotiations and collaboration among stakeholders.
The article discusses the urgent need for Portugal to create conditions that allow its citizens, especially the youth, to live fulfilling lives. It highlights the challenges of job instability, low wages, and high housing costs that hinder family planning and personal growth. The piece argues that economic growth should not only be measured by GDP but also by the quality of life and the ability to retain talent. It calls for policies that promote better salaries, housing access, and support for families, emphasizing that the Portuguese dream is collective and rooted in the belief that each generation can live better than the last.
Labour Minister Maria do Rosário Palma Ramalho has explained the exclusion of the CGTP from recent discussions on new labour legislation, claiming they chose not to negotiate. The CGTP refutes this, asserting they have proposed measures to address workers' rights and precarious employment. They criticize the government's approach, suggesting it favors employers and undermines social dialogue. Key proposals from the CGTP include reducing the workweek, increasing vacation days, and improving job security for vulnerable workers.
The government has promised to provide 100% of gross salaries for laid-off workers and cover 80% of costs for companies, but this commitment lacks legislative backing and clarity on implementation.
Portugal is seeking to enhance its appeal to Middle Eastern investors, particularly from Qatar, by shifting its marketing strategy beyond just its favorable climate. In Doha, representatives from Startup Portugal are engaging with local entrepreneurs to promote investment opportunities in the country.
The Government plans to submit a proposal for revising the labour law to Parliament despite lacking an agreement in the Social Concertation. This move raises questions about whether Chega will play a crucial role in facilitating the reform of the Labour Code, as the Government seeks support from opposition parties without an absolute majority.
The CGTP trade union centre has called for the withdrawal of the proposed labour package, citing widespread dissatisfaction among workers as demonstrated by a recent general strike. Despite the pushback, Seguro has indicated that he will not implement the changes in their current form.
Portugal’s unemployment rate has edged down only slowly since 2019, prompting debate over whether it is approaching a near‑floor. The rate’s stabilisation reflects a mix of cyclical recovery and structural constraints — tight labour markets in some sectors, demographic shifts, labour‑market mismatches and cost‑of‑living pressures that can limit further job creation. Further falls are possible but will likely depend on stronger demand, targeted upskilling and reforms that reduce structural unemployment rather than relying on cyclical factors alone.
A preliminary protocol for Banco Português de Fomento’s new Financial Instrument for Innovation and Competitiveness (IFIC) foresees a €1 billion credit line covering projects in reindustrialisation, defence and artificial intelligence. Companies using bank loans to finance the portion of IFIC‑supported projects will benefit from a two‑year grace period, easing early repayment pressures and potentially encouraging private co‑finance. The measure signals a targeted industrial‑policy push to mobilise investment and employment in strategic sectors while leveraging public support to unlock additional bank lending.
TAP is investing €20 million to build a new aircraft maintenance hub and hangar in Porto, a project due to take two years and expected to create about 200 jobs. The move is intended to increase the carrier’s maintenance self-sufficiency, reduce outsourcing and boost operational autonomy as the airline undergoes privatisation, while Porto’s network will be strengthened with services to Terceira, Praia, Tel Aviv and an enhanced link to Boston.
Compete will open five funding calls in January for large companies, accounting for roughly one third of the programme’s corporate allocation under Portugal 2030, the agency’s president told ECO dos Fundos. The calls come with strengthened support rates aimed at accelerating project implementation and unlocking private investment. For large firms, the tranche presents a concentrated opportunity to secure EU-backed grants that could expedite capital expenditure, support job-creating projects and align corporate investment with Portugal 2030 priorities. The measure also signals an administrative push to deploy funds faster, with potential sectoral and regional impacts depending on application uptake and award conditions.
The article analyses a surge in national defence innovation driven by a €5.8 billion SAFE loan—the largest single investment in the Armed Forces—positioning defence as a strategic area for both European and national investors. Key growth areas include drones, satellites and aircraft, with emphasis on R&D, dual‑use technologies and strengthened aerospace supply chains that can create jobs and boost exports. The piece examines how procurement reform, public‑private partnerships and targeted skills development are needed to translate investment into sustained industrial capacity and economic impact. It concludes that coherent policy and sustained funding will be essential to maximise technological and economic returns.
Julien Jarjoura, an investor based in Switzerland, has acquired Claire’s European business, preserving roughly 200 jobs in Portugal and maintaining the brand’s retail footprint across Europe. The purchase effectively separates the continental operation from insolvency proceedings affecting Claire’s in the United States, the United Kingdom and Ireland, stabilising local employment and stores while broader group restructuring and creditor processes continue.
Prime Minister Luís Montenegro uses his customary 1 January Jornal de Notícias article to renew a call for labour reform, urging a ‘winning mentality’ and changes to employment law and regulation. Framed as necessary for competitiveness and job creation, the piece signals his policy priorities and aims to steer public and political debate toward deregulation and legal adjustments. It functions both as a policy pitch and as political positioning ahead of upcoming labour‑market discussions.
The Prime Minister has defended a government labour reform aimed at guaranteeing ‘decent wages’ by promoting better jobs and stronger pay protections, framing the measure as central to improving employment quality. Separately, António José Seguro urged an urgent restoration of social cohesion in Portugal, stressing that community rebuilding is necessary alongside policy reforms to address economic and social challenges.
