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Portugal : 507 million euros for More Business Investment
Publish Date : 10-Feb-2020
The XXII Government moves forward in early 2020 with a new set of Notices from Portugal2020, in order to support business investment. In total there are 12 tenders launched that add another 507 million euros to the support already made available to Portuguese companies. The More Business Investment initiative was presented on February 5 at Exponor by the Minister of State, Economy and Digital Transition, Minister of Planning and Minister for Territorial Cohesion.
The largest amount of this new package is foreseen to support Productive Innovation, with an allocation of 310 million euros, with a Notice foreseen exclusively for the Territories of the Interior with an allocation of 110 million euros. Then comes support for the so-called Suppliers' Club, with an allocation of 56 million euros. There are 5 notices for Co-Promotion, Research & Development, Productive Innovation and SME Qualification initiatives.
A 55 million Notice was also launched to support the SME Internationalization. Two other Notices, with a total of 30 million euros made available, are intended to support Vocational Training in Companies. Another 14 million will serve to support Qualified Entrepreneurship.
Since the beginning of the previous legislature, the Government has assumed, as one of its main objectives, support for companies. From 2016 to 2019, 2700 million euros have already been paid through the Portugal2020 Incentive Systems. Over these years, the record of candidacies, the continued surpassing of the annual objectives outlined and the high adhesion of companies, led the Government to reinforce the funds destined to this type of support. The first took place in December 2018, with a reinforcement of 600 million euros. The second occurred in December last year with another 600 million euros. The new set of Notices now announced is part of this latest package.
Regarding support to companies, in December 2019, Portugal2020 has 15253 approved projects, which represents 5.5 billion euros of incentives and 11 billion supported investments. Portugal2020, in December 2019, had an execution rate of 45%, representing more than 11 billion euros of incentives already made available to beneficiaries. Portugal2020 has an allocation of 26 billion euros.
