On November 8, the President of the Republic of Portugal, Marcelo Rebelo de Sousa, promulgated a government decree to enhance the public cargo handling service in port areas to increase competitiveness and attract foreign investments.
The decree extends the maximum concession period for public cargo handling services in these areas from 30 to 75 years. This change is hoped to be more than a temporary fix or compensation for past imbalances. The President expects this measure to effectively address issues experienced over the last decade and improve external competitiveness.
The new decree makes the fourth amendment to Decree-Law No. 298/93, dated August 28, which establishes the port operation regime, and the first amendment to Decree-Law No. 324/94, dated December 30, which sets the general terms for concessions of public cargo handling services in port areas.
Miguel Pinto Luz, Minister of Infrastructure and Housing, explained that the President of Portugal “promulgated the decree that extends the maximum term of port concessions from 30 to 75 years, signalling that he hopes that this solution will increase external competitiveness”.
“With this measure of increasing the maximum term of concessions to 75 years, the Government wants to guarantee greater growth in the sector, for which greater public and private investment is needed, allowing private companies to recover the investment made in the terminals,” the Minister added.
