Located approximately 40 km south of Lisbon, Setúbal is an industrial city at the mouth of the River Sado. The port’s significance dates back to Roman times and Setúbal’s influence grew on trade and fishing.
However, its fortunes dwindled at the back end of the 20th Century, and now it’s at an economic crossroads. But a city with cheap property and its own beach in close proximity to the capital… Well, is it any wonder Setúbal is being touted as the most attractive frontline investment locations in Western Europe?
Maria Das Dores Meira the Mayor of Setúbal Municipality gives us a frank rundown of why this part of the world is worthy of your money.
What sets Setúbal apart from Portugal's other Regions from a business perspective?
The Lisbon Metropolitan Area is assumed as the most competitive region of Portugal, having a set of specialized centres that sustain this high economic competitiveness, noticing in recent years a tendency toward modernization and greater competitiveness in the fields of Research and Development and the knowledge society.
The Setúbal peninsula has a central role in the balance and sustainability of economic and social fabric of the Lisbon Metropolitan Area, revealing its important employment capacity and internationalization, with particular significance to the weight of the exporting manufacturing sector, particularly in the automotive and paper sectors.
Where does your region fit into Portugal’s wider economic jigsaw?
The economic dynamism of this region is due, in particular, to the activities related to the port of Setúbal - port with strategic importance by itself and the complementary to the ports of Lisbon and Sines - and a process of industrialization export-oriented, with growth potential associated with the phenomenon of relocation, renewal and industrial development in the Setúbal Peninsula.
What are the growth areas in the region's economy and what active steps are you taking to attract FDI?
The growing areas are basically the logistics, the transportation industry, the activities associated with the sea cluster, fisheries and aquaculture sectors and areas of tertiary activity, with particular emphasis on the retail market.
The tourism industry starts to take advantage of its many features: sun and beaches, nature, history and culture and especially its location - between the Tróia Peninsula, the Natural Park of Serra da Arrábida and the Natural Reserve of Sado Estuary.
How is Setúbal coping with the current market dip and how have businesses and investors adapted?
The companies and investors adaptation has gone essentially by its specialization and internationalization.
It is noted that the largest private investment held in Portugal in 2009 took place in Setúbal, by Portucel Group, installing the most modern paper mill in the world, with an investment of 700 million euros.
Which companies are investing in Setúbal, and what types of industries do you aim to attract?
The latest investments are at the logistic sector and the retail trade.Setúbal wants to position itself as an attractive and preferred region to host industrial interventions and investments, in different areas, including those linked to new technologies and research and development. The area of tourism, given its wealth to natural resources and landscapes, and activities related to the cluster of the sea are also economic activities that Setúbal wants to attract.
The region occupies a location right at the heart of Portugal – close to Lisbon, but entirely separate. How would investors benefit from your location rather than being in the Capital?
Setúbal has natural qualified conditions to receive industrial relocation in the Greater Lisbon, to be the location of the logistic coordination between the Alentejo, Spain and the Algarve, and has a valuable potential to expand the port of Setúbal, taking into account the constraints of the port of Lisbon. On the other hand, the government's decision to proceed with a series of major structural investments in the Setúbal Peninsula - New Lisbon Airport, High Speed Train, New Tagus Bridge, Logistics Platform of Poceirão - places Setúbal in the centre of a new framework of opportunities.
How does real estate and rent costs compare with Setubal and Lisbon?
The price of construction in Setúbal is much cheaper than in Lisbon, allowing it to offer real estate products, for sale or rent, in a much better position. Allied to this, the best environmental quality and lower intensity of car traffic, gives Setúbal remarkable competitive advantages.
What is the long term plan for Setubal's infrastructure, and what improvements are being made?
The major improvements in progress are, arising from applications of community funds, the Urban Renewal of the Historic Centre and the Integrated Program for Exploitation of Riverfront. It is also running the Hub Trade of Montebelo that counts now about 150 thousand square meters of licensed retail trade, almost 150 million euros of investment and will create over 2,500 direct jobs.It is planned a group of structural interventions for Setúbal at term, which will contribute towards to meet its repositioning in territorial competitiveness. The emphasis is on the creation of a new centrality for the City, the development of a Science and Technology Park and the Logistics Hub of Poçoilos.
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