Africa-Press – Cape verde. The Embassy of Cape Verde in Portugal opened today, in Lisbon, its first Diaspora Investor Space, a support location to promote and facilitate investment by the Cape Verdean community and foreign companies in the country.
This space, financed by the Development Fund of the International Organization for Migration (IOM), is the result of a partnership between the United Nations agency and the Cape Verdean Ministry of Communities.
The inauguration ceremony took place at the embassy in Lisbon, in the presence of the Minister of Investment Promotion and Business Development and Minister of State Modernization and Public Administration, Eurico Monteiro, the head of the IOM mission in Portugal, Vasco Malta, the Chargé d’Affaires of the Embassy of Cape Verde in Portugal, Ana Pires, among other diplomatic figures, citizens of the diaspora and businesspeople.
As explained by the IOM representative at the session, the objective is to create 12 “Diaspora Investor Spaces”, the first of which was inaugurated today in the Portuguese capital.
Eurico Monteiro explained, in statements to Lusa, that, within the European context, the creation of spaces in countries such as Spain, France and Italy is being considered, with plans also being made for the United States of America – where the largest Cape Verdean community abroad is present – and on the African continent itself, particularly in the western region, due to the country’s presence in ECOWAS (Economic Community of West African States).
The minister highlighted that people with technical skills in the areas of economics, management, business and companies will be recruited to work in these offices and help with whatever is necessary.
During the presentation of the office, the IOM representative highlighted that remittances from emigrants can represent 18% of Cape Verde’s GDP (Gross Domestic Product). However, the minister specified to Lusa that there are several shipments that are not categorized in this section, such as those sent by boat, by post, or investment “that does not enter this circuit”.
Therefore, the representative of the Cape Verdean executive estimates that remittances could be higher and that there are conditions for them to increase and reach “a third of GDP”.
In the minister’s opinion, all investment is welcome in Cape Verde, but when it comes from the diaspora it represents “a stronger connection with the [home] land”.
“From an economic point of view, from a financial point of view, obviously we are interested in investments in general and, particularly, in foreign investments.”
As he highlighted, tourism has been the “big area” for attracting investment, but efforts are now focused on sustainability issues, through “Blue Energy and Green Energy”, in the public and private sectors, and on technological issues, and the “Mindelo Technology Park” was recently opened on the Island of São Vicente, which succeeded the one in Praia, on the Island of Santiago.
When asked about current migration policies in Portugal, he told Lusa that “Cape Verde has no reason to change its policy at this time” (…) even for economic reasons, due to the need for investment”.
“We do this because we want investment. We know that European countries, in general, or the United States of America, when they look to Cape Verde, are not looking to the country for employment, but above all to create companies and create jobs,” he explained.
“Therefore, for us it is an advantage that we obtain. This is a fundamental option (…) And relations with Portugal are historic”, he concluded.
Remittances from emigrants to Cape Verde reached a record 30.6 billion escudos (278 million euros) in 2024, according to data consulted on June 16 by Lusa, with emigrants in Portugal contributing the largest share (32%).
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