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Portugal invests EUR 7.7 billion in new tech projects

Portugal’s “Journey to the Future” Tech Agenda

Portugal invests EUR 7.7 billion in new tech projects - Portugal news
Portugal invests EUR 7.7 billion in new tech projects - Portugal Business News

Portugal tech & investment news - Portugal is investing EUR 7.7 billion in new tech projects under its Journey to the Future agenda that involves high-tech projects in different economic sectors including the hydrogen, automotive, textile, and agricultural sectors.

Portugal is investing EUR 7.7 billion in new tech projects in an ambitious program entitled Portugal’s Journey to the Future. The funds, that come from the EU Recovery and Resilience Plan, will lead to the creation of 18,000 jobs, out of which 11,000 are highly qualified, and involves over 1,000 entities.

Portugal’s Journey to the Future agenda is the country's most transformative program yet, since it brings together entities from the scientific and technological community.

Portugal’s ambitious Journey to the Future tech program involves 959 companies and business associations and 112 research centers, with a planned investment of 7.7 billion until 2026. The program’s foundational principle is a commitment to research and technology with the collaboration of companies as well as scientific and technological research institutes in order to transform Portugal's economy.

Portugal’s investment in tech programs merges business innovation and Green agendas that pave the way for Portugal’s transition into the Future for a range of economic sectors including the textile industry, the automotive sector, new hydrogen technologies, sustainable agriculture, renewable energy and digital transition.

Portugal’s huge investment in industry focuses on Additive Manufacturing, that is an industrial application that allows parts to be produced using 3D printing, through the addition of successive layers. Portugal’s investment in Additive Manufacturing comes under Agenda INOV.AM, through a consortium based in Leiria that is located in Central Portugal that brings together a total of 73 entities, including SMEs throughout the country.

Portugal’s investment in the technology sector for industrial purposes will make it possible to produce innovative and value-added products that will be on the market by 2026. Additive manufacturing technology will ensure that Portugal will be able to reduce imports, given that a large part of tech products for the manufacturing sector are currently imported, that is a paradigm that Portugal intends to reverse.

Portugal’s tech advancements in the field of mining and quarrying focuses on the use of natural stone for future projects. The Portuguese Government will invest 55.8 million Euros to further this agenda that involves the use of high-tech products including robotic solutions for the extraction and transformation of stone. Portugal’s agenda in the quarrying sector aims to reduce greenhouse gas emissions by 30%, while ensuring that an additional 60% of the energy used will come from renewable sources. The agenda will also create a circular economy, while get closer to the country's zero waste target.

Portugal’s investment of EUR 7.7 billion in new tech is an agenda that will pave the way for the country’s Journey to the Future and will ensure that the Portuguese economy will be able to make a very significant leap in economic growth by 2026.


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