The Portuguese Diaspora Investment Program (PNAID) seeks to support and attract investment from nearly five million Portuguese and Lusodescendants living abroad, said the Secretary of State for Portuguese Communities.
Berta Nunes detailed the four axes, 23 measures, and 85 sub-measures that compose the Portuguese Diaspora Investment Program designed among several Ministries and Secretariats of State to support emigrants who already invest in Portugal and capture other millions of Portuguese and Lusodescendants who, “according to some calculations,” are spread over “more than 190 countries.
“What we want with this program is not only to facilitate this investment but to attract more and to support investors who want to come and invest,” stressed the Secretary of State, adding that the government hopes, through PNAID, to accelerate “the attraction of investment from the diaspora.
On the other hand, there is the intention to make visible this effort of the emigrated community in the country of origin. Currently, ” we already have many emigrants living abroad returning and investing or investing from the countries where they live,” which “goes unnoticed.”
“Often we do not have the notion of the contribution of emigrants in this aspect of an investment,” said Berta Nunes, revealing that it identifies “some biases” in the way the country looks at their emigrants.
According to the Secretary of State, biases “exist because there is a lack of knowledge of what our diaspora really means to Portugal” and, therefore, PNAID contemplates a communication component of these projects.
Along with the sending of remittances and the burden on tourism, emigration investment plays a “vital” role for the national economy, which the government wants to see reinforced with a set of markups and dedicated notices for investors in the diaspora, financed by the state budget and community funds.
The support covers several areas, from agriculture to tourism, housing, and education, with a 07% share reserved, about 3,500 places in higher education “in all courses, including medicine and engineering,” for emigrants and their families, so as to attract Lusodescendents and, with them, their parents, “who can also come and invest in Portugal.”
According to Berta Nunes, no target has been set for the PNAID, because this investment by emigrants in the country has never been quantified. “We do not have a term of comparison, because there is no information to tell us the companies that were created and investments made or that the percentage is the investment of the diaspora.
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The PNAID has already been approved, and, after the formalization, the Secretary of State for the Valuation of the Interior will publish notices of support lines dedicated to national investors living abroad. This value has not yet been announced.
Phone: (+ 351) 21 394 6447 /21 394 6406