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Municipal budget for 2020 invests in economy as a lever for employment
28 October 2019
Municipal budget for 2020 invests in economy as a lever for employment

The bet on the economic revitalization of the city, through activities to attract foreign investment, together with a program of attraction and retention of talent, set the strategic axes of the economy, framed in the Porto Budget for 2020, which brings new tax benefits for the establishment of technology companies. Without neglecting tourism as a sector capable of creating jobs and also qualification of traditional commerce.

1.5 million euros are allocated to the economic dynamism of the city as it is strongly correlated with its social development and cultural energy. In this context, next year will reinforce the investment attraction associated with the cooperation and the reinforcement of international economic relations, as a way of economically capitalizing the image of Porto as one of the most attractive cities to invest in Europe.

In fact, investment attraction continues to be a strategic driver for boosting the city's economy, increasingly associated with private investment in innovative activities. For this reason, 2020 introduces a new tax-benefit package for ICT companies based in the city, as already announced.

Intrinsically linked to this decision-making is the talent attraction and retention program developed by InvestPorto. The strategy will continue to play a key role in improving human capital available in the city, enabling the creation of more skilled employment and increasing Porto's international competitiveness.
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