Cloudflare CEO publicly criticizes Portugal, labeling it as an unserious nation.
Cloudflare CEO Criticizes Portugal's Business Environment, Citing Bureaucratic Hurdles and Airport Chaos
The CEO of Cloudflare, Matthew Prince, has taken to social media to criticize Portugal's business climate, referring to the country's bureaucracy as "suffocating" and describing the situation at Lisbon airport as a "disaster." Prince also hinted that the company could cease investing in Portugal if the status quo persists.
In a series of tweets, Prince expressed his dismay over the "disaster" at Lisbon airport and urged multinational companies to reconsider investing in Portugal. He accused the country of failing to deliver on promises made to reduce bureaucracy and facilitate business operation and said that Portugal has significantly deteriorated since Cloudflare began investing there.
Last October, Cloudflare inaugurated a headquarters in Lisbon, with plans to hire 400 to 500 people. However, according to Prince, these ambitions are becoming increasingly difficult to achieve due to worsening conditions. "It's getting worse," he said. "Portugal is not a serious country..."
Despite his criticism, Prince acknowledged Portugal's attractive quality of life and its welcoming attitude towards foreigners. He, however, insisted that the country's bureaucratic challenges and lack of infrastructure make it an unattractive prospect for tech companies.
"It could be a big fish in a small pond. Many smart investments in education. Unfortunately, suffocating bureaucracy and lack of infrastructure make all of that irrelevant," Prince stated, concluding that Portugal promises a lot but delivers little.
It should be noted that Portugal's business investment landscape has transformed in recent years, with updated incentives like the Golden Visa program and a shift towards business investment, science, and culture. Public investment is also expected to rise significantly, supported by the implementation of the Recovery and Resilience Plan (RRP) and large private projects in the car industry.
However, challenges related to bureaucracy and infrastructure persist, as highlighted by criticism from business leaders like Cloudflare’s CEO. These issues, as well as infrastructure concerns, particularly digital and logistical, remain a concern for international companies considering investment.
While Portugal continues to attract business investment, the criticism from figures such as Prince underscores the need for ongoing reform and modernization to address these challenges and fully capitalize on the opportunities available.
- Despite Portugal's shift towards business investment, science, and culture, and the initiation of programs like the Golden Visa, the persistent bureaucratic challenges and infrastructure issues still make it unattractive for tech companies like Cloudflare, as expressed by their CEO, Matthew Prince.
- The CEO of Cloudflare, Matthew Prince, has emphasized that Portugal's attractive quality of life and welcoming attitude towards foreigners are not enough to offset the suffocating bureaucracy and insufficient infrastructure, which hinder tech companies like Cloudflare from thriving in the country, as highlighted by the company's recent investment difficulties.
