Essential Business

German companies create jobs

By

Essential Business

 In News

German chancellor Angela Merkel visited Bosch’s new technology centre in Braga on Wednesday.

Bosch, which employs around 4,450 in Portugal has formed a team at its technology centre to develop software for cars.

The centre, headed by Mathias Renninger, employs 250 specialists in a €240 million investment which will see staff numbers expand to 400 by the end of the year.

Bosch is one of the largest single employers in Portugal after the Portuguese State. The five largest German companies present in Portugal employ 20,000 workers.

“Official data reveals that German companies are responsible for 35,000 direct jobs in Portugal but we know the actual figure is higher. We think German companies are responsible for  approximately 50,000 jobs in Portugal if indirect jobs are included but it’s hard to tell because many German industries use local suppliers”, says Hans-Joachim Bohemer, CEO of the German-Portuguese Chamber of Commerce (CCILA).

According to the latest statistics in 2016 the 400 German companies registered in Portugal recorded a €10Bn turnover with more than half of this amount resulting from sales overseas.

The Germans value the quality of Portuguese human resources, particularly in the engineering area and the ability of the workforce to speak foreign languages as deciding factors when opening a company in Portugal.


Read More