What to expect from Portugal 2030 incentives
Portugal 2030 succeeds Portugal 2020 to foster the development of the country. The new incentive program aims to develop a smarter, connected, close, green, and social country, ensuring a fair transition for all.
Although we are already almost halfway through the decade, Portugal 2030 (in march 2023) is not yet operational, with the exception of the Extraordinary Anticipatory Mechanism. However, the first applications are expected to start opening soon.
If you are looking for an incentive from Portugal 2030 to grow your business, stay tuned regarding the essential information about the program.
The themes of Portugal 2030, where you can fit your company.
There are 4 major themes that impact the orientation of Portugal 2030. The following are:
1 – Innovation and digital transition
This theme has an incentive of €3.9 billion. It is suitable for startups or SMEs with a strong focus on innovation or digitization of their resources. The aim is to increase innovation and competitiveness, foster energy transition and the skills of stakeholders.
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2 – Climate action and sustainability
Portugal 2030 will inject €3.1 billion into the country’s “green” economy. Here you can find opportunities for startups and SMEs with a focus on decarbonization and the development of green solutions and urban mobility solutions. Companies related to the railway and the maritime-port sector also have an incentive to turn to.
3 – Demography, qualifications, and inclusion
To develop a fairer and more inclusive Portugal, with more opportunities for all, Portugal 2030 allocates the largest share of incentives: EUR 5.7 billion.
This theme is in line with public and private organizations that take an active role in the education and training of people.
Note that this is a theme addressed to the less developed regions of Portugal, although some of its measures may cover the regions of Lisbon and the Algarve.
4 – Sea
In an Atlantic-facing country, there is still €392.6 million to foster maritime industries, mainly in the sustainability of the fishing industry and the ecosystems on which it depends. Energy efficiency, decarbonisation and the enhancement of fisheries products and local development are at the top of the priorities of this incentive package.
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How are Portugal 2030 incentives distributed across the country?
In order to make the distribution of wealth fairer and the development of the various national regions, there is a greater prominence in support for the North, Center, and Azores. Counterbalancing, the Lisbon region has the least incentives.
Going into detail, the North is the Portuguese region with the largest volume of incentives, totaling 3.4 billion euros. It follows the Centre, with 2.2 billion, Azores and Alentejo, both with 1.1 billion, Algarve and Madeira, with an incentive value of around 700 million and, finally, Lisbon, with 380.8 million euros in incentives.
For more information on the objectives of Portugal 2030 by region, click here.
What is the value of the incentives of Portugal 2030 and who can apply?
In total, Portugal 2030 has 23 billion incentives to inject into the Portuguese economy, divided by the various themes and regions mentioned above.
In addition to companies, individuals, municipalities and other public bodies, cooperatives, associations, IPSS and other private entities can also compete for some of the incentives of Portugal 2030.
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How and when can I apply for Portugal 2030?
Over the decade, Portugal 2030 will launch several different incentives for companies, individuals, and public organizations to apply, much like what happened with Portugal 2020.
In the second quarter of 2023, the first opportunities to which you can apply will begin to emerge.
As we have seen, incentives vary by region and theme. We advise you to stay tuned with the website of Portugal 2030 or its regions and follow us on instagram, to stay updated regarding the incentive programs that are being launched.
The PRR will run alongside Portugal 2030 with more incentives
During this decade, Portugal has more than 40 billion incentives for the Portuguese economy. Alongside Portugal 2030, the “PRR – Plano de Recuperação e Resiliência” is in action, with 18 billion incentives and measures such as The Internationalization Via e-commerce, which we have already brought you here.
Conclusion: what to expect from Portugal 2030?
At the very least, Portugal 2030 has to encourage the economy in the same way as the programme that did so. However, there is a significant difference in economic reality from one decade to the next. Portugal 2020 has covered a decade of rapid growth, while Portugal 2030 will face a decade full of doubts and instability.
A decade where a focus on digitisation, the green economy and equal opportunities across the country is even more urgent. Portugal 2030 points towards that and may be, in addition to being an incentive to growth, a measure that will help stabilize companies and the national economy. If your company has these goals in mind, this is a program that will help you develop your business more and better. And, as always, Lisboa Investments is ready to help with applications, whether your company is from Lisbon or any other part of our country.
