The official, attending the inauguration of Euronext’s facilities in Porto today, discussed the role of companies in financing the economy, particularly through the capital market.
In his speech, he stated that it’s “not about devaluing the importance of bank financing” nor about “replicating the economic model of other countries in Portugal.”
In this context, Castro Almeida noted that the “Banco de Português de Fomento has been strengthening its role in the field of guarantees it provides for these financings,” highlighting that “over 11,500 contracts, worth 3.1 billion euros, have already been signed this year alone,” a figure that “compares with 540 million signed throughout 2024.”
Euronext opened a new center in Porto today, accommodating around 500 people with capacity for more than 150 additional staff.
The company, which manages the Lisbon stock exchange among others in Europe, did not disclose the investment value. However, its president, Stéphane Boujnah, stated that it was one of the group’s largest ever real estate investments.
“We moved to this building because our previous offices became too small. Our growth in Portugal reflects a country with a very favorable environment for the expansion of our European project,” he said.
Isabel Ucha, CEO of Euronext Lisbon, reminded that through Euronext, “national investors access a pool of 1,800 companies, trading about 12 billion euros daily, which corresponds to about 25% of all equity traded in Europe.”
Castro Almeida reiterated that “like Europe, Portugal is also a savings surplus country, exporting it mainly to applications in the US economy,” instead of “investing in innovation, digitalization, clean energy, defense, or infrastructure within its own territory, or in other European Union countries.”
For the minister, the capital market “allows diversification of sources,” is a “source of funding that, once opened, allows companies to access it with the frequency suitable to their investment pace and ambitions,” and is “more open to risk than bank financing.”
The goal is that by “improving the capitalization levels of companies and supporting their innovation,” it will be possible “to reach a higher level in the weight of our exports in GDP. We need to anticipate the target, surpassing 50% by the end of the legislature,” he emphasized.
