PORTUGAL Europe s West Coast

Transcription

1 PORTUGAL Europe s West Coast Life Sciences

2 NEARSHORE LOCATION Same time zone as UK and Ireland 1 hour difference from Central European Time 5 hour difference from EST WORLDWIDE CONNECTIONS 8 hours difference from PST Nearest European country to the U.S. and Canada 1

3 MARKET PORTUGAL IS A GATEWAY TO THE EUROPEAN UNION (500+ MILLION PEOPLE) AND THE PORTUGUESE SPEAKING COUNTRIES Portugal is a founding member of the Euro. Portuguese Exports of Goods» EU 74.1% MILLION PORTUGUESE SPEAKING CONSUMERS Portugal Brazil Cape Verde East-Timor Mozambique Angola Sao Tome and Principe Equatorial Guinea Guinea Bissau 2

4 ECONOMIC KEY FIGURES GDP GROWTH (2017) UNEMPLOYMENT RATE (December 2017) PORTUGUESE EXPORTS AS PERCENTAGE OF GDP (2017) GROWTH OF THE EXPORTS TO THE U. S. (2017) 2.7% 7.8% 43.1% 20.2% INFLATION RATE (2017) INVESTMENT GROWTH EXPECTATION (until 2019, annually) EXPORTS GROWTH (2017 ) $2.3bi 1.4% 4.4% 7.9% $5.6bi 3 Portuguese exports to the U.S. U. S. exports to Portugal

5 INVESTMENT TRACK RECORD ATTRACTIVE AND RELIABLE INVESTMENT DESTINATION M & A O P E R AT I O N S Airport Infrastructure, Port Terminals, Energy, Renewable Power Assets, Electricity Grid, Water Sectors, Telecommunication, Banking, Insurance, Hospitals, Pharmaceutical, Tourism, Electronics Products, Cloud Services,Semi-conductor, Packaging, Wood-based Materials. 4

6 INVESTMENT TRACK RECORD INDUSTRIAL INVESTMENT : NEW AND EXPANSION B O S C H A M K O R T e c h n o l o g y Expansion of an existing plant to produce new wafer level packaging solutions for the IoT market G M D New industrial unit, high pressure die casting components for the automotive industry M E C A C H R O M E New industrial unit for the manufacturing of titanium parts for aircraft engines B O R G W A R N E R Expansion of existing plant to produce new emission control components for the automotive industry K E M E T Expansion of existing plant to produce new aluminum electrolytic capacitors for automotive power and industrial LED lighting Bosch car multimedia strengthened its business with $60M investment in R&D activities E B E R S P Ä C H E R Eberspächer opens an exhaust technology plant in Portugal 5

7 RECENT TRACK RECORD Launches a Digital Delivery Hub in Lisbon "Cyber Security Operation Centre in Lisbon Next Generation Television Hub in Lisbon New IT development center in Porto Opens a second Delivery Centre in Portugal New R&D, engineering design center in Porto 6 Opens new Technology Hub in Lisbon

8 ONGOING U.S. WEST COAST TECH INVESTMENT INTO PORTUGAL New EMEA tech center in Lisbon EMEA support center in Lisbon New South European support center in Lisbon Portugal and Cisco just signed a MoU to accelerate Portugal s digitalization Establishing Tenkiv Portugal in Porto to develop solar energy system manufacturing Amazon Web Services to launch a business center in Lisbon R&D center with a Portuguese School of Biotechnology in Porto 7

9 PORTUGAL S COMPETITIVE ADVANTAGES

10 COMPETITIVENESS / C o u n t r i e s DOING BUSINESS REPORT # C o u n t r i e s F O R B E S B E S T C O U N T RI ES F O R D O I N G B U S I N ESS R A N K I NG #19 P O R T U G A L I S B O O S T I N G I T S C O M P E T I T I V E N E S S A N D A T T R A C T I N G N E W B U S I N E S S E S C o u n t r i e s GLOBAL INNOVATION INDEX # / C o u n t r i e s THE GLOBAL COMPETITIVENESS REPORT #42 9

11 INFRASTRUCTURES T R A N S P O R T Portugal has the 13 th best overall infrastructure in the world. G L O B A L C O M P E T I T I V E N E S S R E P O R T ( C O U N T R I E S ) Quality of Roads #8 #4 Europe Quality of Railroad #31 Quality of Air Transportation #29 Quality of Ports #25 10 A L L M A I N L AND S E A PORT S A R E C O N N E CT ED TO T H E R A I L N E TW O RK O NWARDS TO S PAI N AN D C E N T R AL E U R O P E Source: OECD, World Economic Forum

12 INFRASTRUCTURES INTERNATIONAL AIRPORTS P O R T O 6 8 C I T I E S with direct flights. L I S B O N 11 0 C I T I E S with direct flights. L I S B O A P O R T O D I R E C T F L I G H T S T O M A J O R C I T I E S D I R E C T F L I G H T S F R O M L I S B O N, P O R T O & P O N TA D E L G A D A A T L A N T A B O S T O N M I A M I N E W A R K NY ( J F K ) O A K L A N D P H I L A D E L P H I A P R O V I D E N C E 11 W A S H I N G T O N Source: ANA/VINCI Airports of Portugal, August 2017

13 INFRASTRUCTURES B R O A D B A N D & C O N N E C T I V I T Y C R I T E R I A R A N K I N G Connectivity #10 Integration of Digital Technology #9 EUROPE S DIGITAL PROGRESS REPORT 2017, EU Communication Technology #10 Digital / Technological Skills #14 WORLD DIGITAL COMPETITIVENESS RANKING 2017, 63 COUNTRIES 12

14 INNOVATION PORTUGAL IS A LEADING COUNTRY IN PROVIDING TECHNOLOGICAL SERVICES AVAILABILITY OF LATEST TECHNOLOGIES #20 FIRM-LEVEL TECHNOLOGY ABSORPTION #28 FDI & TECHNOLOGY TRANSFER #15 QUALITY OF SCIENTIFIC RESEARCH INSTITUTIONS #22 UNIVERSITY- INDUSTRY R&D COLLABORATION #36 G L O B A L C O M P E T I T I V E N E S S R E P O R T ( C O U N T R I E S ) Today, the company has one of the largest dedicated R&D teams in Portugal, with over 500 highly qualified engineers working both on hardware and software solutions in Aveiro, Braga and Ovar. In this way, Bosch stands not only for Made in Portugal but also for Invented in Portugal. July,

15 INNOVATION P O R T U G A L I S A B O O M I N G E C O S Y S T E M F O R S TA R T U P S Artificial Intelligence AI & AR e-commerce IoT Robotics Fintech A Forbes top 50 Fintech companies for

16 TALENT HIGH-LEVEL TALENT. FLEXIBLE. COMMITTED. ENGLISH PROFICIENCY INDEX 2017 Portugal is high proficiency #18 out of 80 countries 2 SCHOOLS IN THE FINANCIAL TIMES RANKING TOP 25 European Business School Rankings 2016 FT.com Business School Rankings EDUCATION #12 #21 #25 Ease of finding skilled employees Availability of scientists and engineers Quality of management schools Source: Education First, English Proficiency Index 2017 Source: European Business School Rankings 2016 FT.com Source: The Global Talent Competitiveness Index countries INSEAD, Adecco Group, Human Capital Leadership Institute 15

17 TALENT IN HIGHER EDUCATION INSTITUTIONS BY FIELD OF STUDY 115,952 22,191 78,027 15,545 STUDENTS ENROLLED AND GRADUATES ,113 30,207 13,305 5,667 81,406 16,356 Social Science sand Law Engineering and Manufacturing Healthcare Science, Maths and Computers Science Other 16 Source: PORDATA, Ministry of Education - DGEEC

18 Portugal TALENT I N T E R N AT I O N A L B E N C H M A R K I N G W H A T C O M P A N I E S S A Y SKILLED LABOUR RANK #20 L A N G U A G E S K I L L S #14 S I E M E N S Portuguese people are result-oriented. If they have a problem, they deal with it. Here, workers don t head home right when their shift ends. There is also a stable environment inflation and salaries and a good match of high tech and low cost. P e t e r H a e n d e l, Chief Financial Officer, V E S T A S Siemens Portugal M A N A G E M E N T E D U C AT I O N #12 U N I V E R S I T Y E D U C AT I O N #17 S C I E N C E I N S C H O O L S #20 Vestas already leads the industry in R&D investments and by establishing an additional engineering design center, we strengthen our R&D capabilities through the broad pool of talent available in the Porto region. A n d e r s V e d e l, Executive Vice President and CTO Vestas 17 Source: IMD World Talent Report 2017, 63 countries

19 ATTRACTIVE INCENTIVES PRODUCTIVE I N V E S T M E N T R&D I N V E S T M E N T JOB C R E AT I O N TA X - C R E D I T F I N A N C I A L S U P P O R T TA X - C R E D I T F I N A N C I A L S U P P O R T T A X E X E M P T I O N G R A N T a n d : E x p a t s T a x R e g i m e ( I n c o m e Ta x 2 0 % f l a t r a t e f o r 1 0 Ye a r s ) U. S. P o r t u g a l C o n v e n t i o n f o r t h e a v o i d a n c e o f d o u b l e t a x a t i o n 18 U. S. P o r t u g a l F o r e i g n A c c o u n t Ta x C o m p l i a n c e A c t ( F A C T A )

20 PRODUCTIVE INVESTMENT SCOPE FINANCIAL INCENTIVES New products or services; New production methods or processes; Innovation must be at least nationwide (non SME). TAX INCENTIVES Investment projects with positive impact on innovation and jobs creation. ELIGIBLE EXPENSES NATURE OF SUPPORT Tangible Fixed Assets: machinery, equipment and buildings; Intangible Fixed Assets: software, technology transfer; Training expenses. Loan: 30% of eligible expenses as an interestfree loan; 8-years reimbursement period; Cash Grant: Loan conversion of up to 60% of the incentive depending on the performance of the project. 30% Base rate Tangible Fixed Assets: machinery, equipment and buildings; Intangible Fixed Assets: software, technology transfer. Corporate Income Tax Credit from 10% up to 25% of eligible investment; Tax benefits up to a 10-year period after the conclusion of the investment. Exemption from Municipal Property Tax, Municipal Tax and Stamp Tax Transactions. 10% to 25% MAXIMUM SUPPORT Financial grants combined with tax incentives, applied to the same expenses may not exceed 25% of the eligible investment (tax credit + cash grant + loan interest saving). For projects located in Lisbon and Algarve regions, only investments in new activity are eligible up to a limit of 10% of the eligible investment. 19 Source: Portuguese Government.

21 R&D INVESTMENT FINANCIAL INCENTIVES TAX INCENTIVES SCOPE Investment in R&D activities to develop new products/services or new production methods or processes. ELIGIBLE EXPENSES Costs with technical staff dedicated to R&D activities; Acquisition of services from third parties, including technical and scientific assistance and consulting; Purchase of scientific and technical instruments and equipment (depreciations during project); Costs associated with patents registration and acquisition. NATURE OF SUPPORT Base Rate: 25% of eligible expenses; Bonuses: up to +60 pp according to project scope and company size; Cash Grant: up to 1,000, of incentive; For incentive amount that exceeds 1, , 25% as an interest-free loan and 75% as cash grant. Corporate Income Tax Credit: Base rate: 32.5%; Incremental Rate: 50% of the increase in expenses incurred during that period compared to the average from the previous two fiscal years, up to 1,500, MAXIMUM SUPPORT Financial grants combined with tax incentives, applied to the same expenses may not exceed: 80% of Gross Grant Equivalent for Industrial Research Projects; 60% of Gross Grant Equivalent for Experimental Projects. 20 Source: Portuguese Government.

22 JOB CREATION INTERNSHIPS TARGET Unemployed aged between 18 and 30 (inclusive), with a qualification level 3. Unemployed aged over 30 and under 45, if registered for at least 12 months at an employment center. FINANCIAL GRANT In EUROS CONDITIONS Qualification Meal Allowance Work Insurance Salary Support* Total Monthly Support Monthly support for Total Salary. Duration: 9 Months* High-school Graduate (Level 3) Vocational High-school Graduate (Level 4) Post High-School Education (Level 5) Bachelor Degree (Level 6) Master Degree (Level 7) ENTITY IN CHARGE * General rule Public Employment Service (IEFP). PhD (Level 8) Source: Portuguese Government.

23 JOB CREATION CONTRATO EMPREGO PROGRAM TARGET Unemployed people (registered at employment center for at least 6 months). Unemployed people aged under 29 or over 45, if registered for at least 2 months at employment center. FINANCIAL GRANT One time support* depending on contract type: Permanent contract** Fixed-term contract (minimum of 12 months) * Three payments ** Obligation to maintain the contract for 24 months 3, , CONDITIONS This measure is not cumulative with the Exemption of Social Contributions. There are three calls during the year: February, May and October. ENTITY IN CHARGE Public Employment Service (IEFP). 22 Source: Portuguese Government.

24 JOB CREATION EXEMPTION FROM SOCIAL SECURITY CONTRIBUTIONS TARGET Young people looking for first job, aged under 30 years. Long-term unemployed (registered at employment center for more than 12 months). TAX EXEMPTION 50% Exemption from payment of Social Security Contributions [23.75%]: Young people looking for first job: 5 years support Long-term unemployed: 3 years support 23.75% CONDITIONS Exemption only applies to permanent contracts. This measure is not cumulative with the Contrato Emprego Program. ENTITY IN CHARGE Social Security. 23 Source: Portuguese Government.

25 QUALITY OF LIFE Portugal is a good location to investment and work but also a great place to live and e n j o y l i f e. Stable and safe, sunny, with unique nature, rich leisure, historic and cultural amenities, and high quality healthcare facilities. G L O B A L P E A C E I N D E X C O U N T R I E S #3 PORTUGAL B L O O M B E R G P U R S U I T S Where to Go in 2017 Jan 4 th 2017 The 20 destinations that will be especially hot this year Portugal s position in the pantheon of European tourism has shot from obscure to over-the-top, and Lisbon, the charm-packed capital, is poised to keep climbing T H E H U F F I N G T O N POST Top 10 Countries With the Best Weather and Climate Aug 8 th 2016 Portugal: the country is considered the third most welcoming country for expats overall and ranks fifth in both the Quality of Life and the Ease of Settling In Index THE G U A R D I A N 24 Sun, surf and low rents: why Lisbon could be the next tech capital Oct 29 th 2016

26 LIFE SCIENCES IN PORTUGAL

27 ECOSYSTEM C O R E A C T I V I T I E S PHARMA & BIOTECH Market turnover: $2,125 million; FTE 6,100. MEDICAL DEVICES Market turnover: $375 million; FTE 3,600. HEALTHCARE Market turnover: 13,750 million; FTE 180,000. Retail Manufacturing Services IT Health Tech Universities R&D Centers Tech Parks Shared Services 26 R E G U L AT O R Y B O D I E S : INFARMED & MINISTRY OF HEALTH

28 INDUSTRY EXAMPLES 27 Portugal based multinational pharmaceutical group developing, manufacturing and distributing drugs worldwide AtralCipan is a referenced pharma group and the Portuguese antibiotics manufacturer pioneer 100 Year old Bial is a leading international pharmaceutical group and solid R&D player, focusing in neuroscience, immunotherapy, and cardiovascular diseases Develops three different business areas in Portugal: medical care; antibiotics manufacturing and outpatient care and is the biggest dialysis operator in Portugal Is opening an internal Global Financial Services center in Lisbon, concentrating transactional finance activities from all Grünenthal affiliates worldwide Is investing in a new manufacturing facility of hyperkalemia treatment drugs One of the world s largest suppliers of contrasting agents, it offers branded pharmaceutical customers R&D services and manufacturing of innovative new drugs including highly potent compounds This global player develops, manufactures and markets a broad range of branded and non-branded generic pharmaceutical products in Portugal Manages a production center and two manufacturing facilities in Portugal, topped by a Global Services center an internal services provider to the group across Europe Performed over 50 clinical trials in Portugal and is investing $25M in clinical research Tecnimede s portfolio includes more than 100 products, a result of its R&D center, which outputs more than 2,500 market authorizations worldwide

29 10 PHARMACEUTICALS COMPANIES IN THE TOP 100 PORTUGAL S LEADING R&D INVESTORS Bial, Hovione, Biocant, Bluepharma, Tecnimede, Eurotrials, Unilfarma, Hikma, Amgen and Medinfar In 2015 BIAL s antiepileptic, the first medicine with a Portuguese patent, has been approved by the Food and Drug Administration (FDA). In 2016, a second medicine by Bial, to fight Parkinson s disease, was approved for sale in the EU. The 2015 Nobel Prize in Medicine was awarded for the invention of a medicine against parasites, whose active ingredient is currently in production by Portuguese multinational company Hovione Pharma. In 2017 the Discoveries center for Regenerative and Precision Medicine, coordinated by 3B's- UMinho was approved by the European Commission. EDUCATIONAL PARTNERSHIPS WITH THE U. S. International cooperation program with medical schools in Portugal to foster collaborative clinical research in areas related to human disease, and launch post-graduate medical training. 28 MIT Portugal has launched the Bioengineering Systems, a world-class graduate program offered jointly by four Portuguese universities and focusing in physical, chemical and biological engineering, computational systems, and medical technologies.

30 PORTUGAL HOSTS A GROWING NUMBER OF WORLD CLASS R&D INSTITUTIONS 29 The Translational and Clinical Research Infrastructures Specialization Platform Health Cluster Portugal brings together Portuguese R&D institutions, hospitals and academic medical centers, and their respective facilities, resources, services and expertise in the areas of translational and clinical research, making them more accessible to other (national or foreign) researchers and companies. INL International Iberian Nanotechnology Laboratory is the first international research organization in Europe for nanoscience, nanomedicine and nanotechnology, with over 200 researchers and 100 PhD students from all over the world. Champalimaud Foundation is a private biomedical research center focusing on neuroscience research, translational cancer research, and clinical practice I3S Institute for Research and Innovation in Health, at Porto University, focuses on cancer, host response interaction, neurobiology and neurological disorders CEB Centre of Biological Engineering at University of Minho (Braga) currently with 130 PhD researchers in 3 interdisciplinary thematic areas that cover the molecular, cellular and process scales: Industrial and Food; Environmental; and Health Biotechnology and Bioengineering ibet is a private not for profit research in the area of biotechnology and life sciences, established to bridge university and industry research, in Health & Pharma and Food & Health (in particular concerning agroindustry). ibet hosts 3 satellite laboratories: Novartis, Bayer and Merck. CNC Center for Neuroscience and Cell Biology at the University of Coimbra is subdivided into 10 departments (Cell Biology, Biophysics, Biochemistry, Neurochemistry, Neuropharmacology, Molecular Biotechnology, Neurobiology, Microbiology, Vectors and Gene Therapy, and the Laboratory of NMR. IMM Institute for Molecular Medicine is a non for profit, whose members are the University of Lisbon School of Medicine and Santa Maria Hospital, the Portuguese Institute of Oncology, and the Oriente Foundation. IGC - Instituto Gulbenkian de Ciência s scientific interests are focused on the genetic basis of development and evolution of complex systems, highlighting organism-centred approaches in experimental models, and on the genetics of complex human diseases. ITQB - Instituto de Tecnologia Química e Biológica is a research institute of the New University in Lisbon. Its mission is to provide advanced training in an interdisciplinary environment through high quality research work in Chemistry, Biology and associated technologies. An applied R&D center that provides innovative services of Biotechnology relevant to Life Sciences. BIOCANT is the R&D center of BIOCANT PARK, the first Portuguese technology park dedicated to Biotechnology.

31 BIOTECHNOLOGY Biotechnology is the 4 th most innovative sector in Portugal and grew over 300% between 2006 and 2014 The share of biotech articles in international publications over total scientific articles is above the average of European countries Biotechnology firms own 10% of international patents granted to Portuguese companies, almost double of the European Union and OECD averages Internationally trained community of PhDs, engineers and business graduates and an attractive hub for biotech entrepreneurs An export-oriented health sector, with pharma firms supplying mainly the European Union and the U. S. Recent adoption of the European Clinical Trials Regulation, that will streamline application procedures and reduce bureaucracy of clinical trials permits P Bio Portugal s Biotechnology Industry Organization Representing the vast majority of the country s biotechnology corporations, P-BIO fosters a favourable environment for startup creation and growth, promoting national and international business, and increasing public awareness of biotechnology products and breakthroughs. 30

32 AICEP I N V E S T M E N T P R O M O T I O N AGENCY T R A D E P R O M O T I O N AGENCY AICEP was recognized as the top investment promotion agency in Western Europe at the 2017 Best to Invest Top IPA Awards. Source: Site Selection Magazine TO P 1 O N E - S T O P S H O P F R E E O F C H A R G E G O V T A G E N C Y AICEP is one of the Top 10 Investment Promotion Agencies in replies to RFI - Requests For Information from potential investors. Source: World Bank TO P 10 I N F O R M AT I O N C O N TA C T S I N C E N T I V E S & G R A N T S L O C AT I O N To help you find the site that suits your project, AICEP will introduce you to multiple location alternatives and bridge you with utility suppliers. H U M A N R E S O U R C E S AICEP will support your search of human resources and professional training, bridging contacts with Portugal s employment authorities and schools. B U S I N E S S P A R T N E R S AICEP will promote contacts with local suppliers and business partners that can add value to your project. I N C E N T I V E S AICEP will analyse your eligibility to innovation, R&D, production and employment incentives. 31

33 INVEST IN PORTUGAL THE RIGHT PLACE THE RIGHT TIME P O R T U G A L G L O B A L. P T Filipe Costa: filipe.costa@portugalglobal.pt Portuguese Trade & Investment Commissioner in San Francisco Economic and Commercial Section Consulate General of Portugal in San Francisco