At a panel during the Web Summit, held in Lisbon until Thursday, Leitão Amaro stated, “I am a member of the Government, I will not comment on domestic and U.S. policies, or moral positions.”
The official expressed that Portugal is “a very safe, very stable country” where investor rights are protected since they “are not targets of discretionary behavior.”
Regarding economic stability, Leitão Amaro noted that Portugal has been among the fastest-growing economies in Europe, with low unemployment and a reduction in debt relative to GDP.
He emphasized the political environment in Portugal, stating that dialogue is possible and that “this level of political, economic, and financial stability is a rarity.”
Leitão Amaro also urged companies to invest in the country.
“Come to Portugal. Stay and invest here and develop your businesses here, because by doing so, you are doing it in a country and region that is central, but also connected everywhere, a beacon of stability, but also a point for many bridges,” he argued.
The official highlighted that governments and companies should “adopt a posture of engagement and not detachment, not retaliation, increasing pressure, and antagonism.”
“Build bridges, come closer, and do not escalate conflicts,” he urged, during a panel dedicated to U.S. tariffs.
Also present on the panel were Angeli Patel, executive director of the Berkeley Center for Law and Business, and William Hurst, professor of Chinese Development at the University of Cambridge.
Angeli Patel asserted that tariffs create a harsh environment, prompting some tech companies to move their innovation hubs elsewhere, such as Toronto, Helsinki, or Tel Aviv, under conditions that often include remote work.
William Hurst remarked, “This is a film we’ve seen before.”
“It is not the first time we see a tightening of the global economy; we’ve seen this movie before. There have been tight and relief periods over the centuries, and we’ve been in a long relief period for the past 40 years before this tightening began,” he emphasized.
This edition of the Web Summit, running until November 13, is expected to attract over 70,000 participants, more than 2,500 startups showcasing their products and services, and over 1,000 investors.
The Web Summit began in Lisbon in 2016, with its continuation secured until 2028.
