Portugal seeks bigger business role for its diaspora

Portugal wants to turn its diaspora into a stronger economic asset, with the government calling on more than five million Portuguese and people of Portuguese descent in 178 countries to help drive investment, innovation and the internationalisation of the economy. In an interview with ECO, Secretary of State for Portuguese Communities Emídio Sousa said the strategy will begin with the first Portugal Nação Global forum in Lisbon on April 29 and 30.

The event, organised with Fundação AEP, is expected to bring together nearly 450 companies from Portugal and from diaspora communities. Sousa said the aim is to create direct business links between Portuguese companies and overseas entrepreneurs or senior executives of Portuguese origin, supporting both exports and imports and helping potential investors identify the right contacts in Portugal.

“Let’s invite these Portuguese people living around the world to our companies. Businesspeople from the diaspora will meet with Portuguese companies with whom they may have business interests, whether in terms of imports or export”, he said.

The initiative will also include municipalities, intermunicipal communities, the two metropolitan areas and the two regional governments, so local authorities can present investment opportunities directly to diaspora investors: “If there is interest in investing in a hotel, housing or a factory, you have the opportunity to meet directly with the mayor, who is the best person to speak to regarding investment plans”.

According to Sousa, institutions such as AICEP and Banco de Fomento will also take part in sessions on public policies, financing lines and concrete investment opportunities.

A permanent digital platform, to be managed by the state in partnership with Fundação AEP, is also being prepared to keep those contacts active after the forum. Sousa said the tool will allow participants to search for Portuguese or Portuguese-origin counterparts and arrange one-to-one meetings, arguing that one of the main barriers for diaspora investors has been knowing who to approach in Portugal.

Among the sectors with the strongest representation at the event are technology and digital, construction and real estate, agrifood, industry, hospitality and tourism, media and finance. Sousa said Portugal has often viewed emigrants mainly through an emotional lens, but argued they should now also be seen as an “economic resource” for companies and local investment projects.

Originally published at Eco.pt