Portugal’s Diaspora Investor Support Network Established

Posted on: June 24, 2022 Posted by: diasporadigital Comments: 0

Tags: Diaspora Investor Support Network, Paulo Cafôfo, Portugal

The government of Portugal is aiming to attract approximately 5 million Portuguese emigrants or people with Portuguese descent to invest back home.

In line with this, its Diaspora Investor Support Network has been formalised with about 300 entities. The clear goal of the establishment is to attract investment to Portugal, in addition to supporting Portuguese emigrants or Portuguese descendants.

In an interview with Lusa News Agency (Lusa – Agência de Notícias de Portugal) Secretary of State for Portuguese Communities, in charge of diaspora affairs – Paulo Cafôfo, thoroughly explained the concept behind the creation and objective of the Diaspora Investor Support Network:

“The idea is that these emigrants and Portuguese descendants are attracted to make investments in the country, more specifically in their lands of origin. This will allow not only the development of the local economy, but the nationals’ as well. We are talking about five million Portuguese people who live abroad and those of Portuguese descent, and so there is an economic dimension here that has to be boosted.”

He also added that: “there is a network of about 300 entities, and it is essential for us to connect services such as different areas of governance, regional entities, municipalities or even business associations that have, and can support diaspora investment in the country as well as having instruments for this purpose.”

For Paulo Cafôfo, “the economic importance Portuguese communities may have in the development of the country and internationalization of its economy come with advantages in the fight against depopulation and desertification of the territory; since more investment also attracts more people, particularly in low-density areas in terms of population or inland territories.”

Terms of adhesion to the Diaspora Investment Support Network will also be signed.

By: Theresa R. Fianko

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