InvestPorto Joins WAIPA

Last July, Porto's Municipal Assembly unanimously approved Porto's admission to the World Association of Investment Promotion Agencies (WAIPA), a non-governmental organization founded in 1995 by the United Nations Conference on Trade and Development. This membership is now officialized, making InvestPorto and the city of Porto the first in Portugal to join WAIPA.

WAIPA acts as a global forum for investment promotion agencies, providing networking possibilities and promoting best practices in regards to investment promotion. WAIPA's objectives include promoting understanding and cooperation between investment promotion agencies, promoting the efficient use of information, facilitating access to data sources, and sharing regional/national experiences in attracting and increasing foreign direct investment.

To highlight the importance of this membership, Rui Moreira, Mayor of Porto, recalled what he had already advocated when he ran for office for the first time in 2013: a threefold commitment to the economy, social cohesion, and culture. "This proposal aims to highlight what we believe in: networking. In other words, the ability to showcase and attract investment to the city,” said Rui Moreira, highlighting the work currently carried out at InvestPorto by the City Councillor for Economy, Employment, and Entrepreneurship, Ricardo Valente.

In a statement to WAIPA, Ricardo Valente mentioned that, by becoming a member of WAIPA, Porto – through InvestPorto – will have a privileged access to a global network of Investment Promotion Agencies, allowing it to create mutually beneficial strategic partnerships and collaborations. "As true believers in promoting dialogue and exchanging experiences, we know that, by joining WAIPA, we remain faithful to this belief and are eager to carry it to another level", added the City Councillor.