Official Visit to Portugal: “The Financial Sector Offers Promising Cooperation Prospects for Both Countries”

From May 11th to 12th, Finance Minister Bucks accompanied LL.AA.RR, with the Grand Duke and the Grand Duke making an official visit to Portugal. Alongside the official visit, Yuriko Bucks interviewed Portugal’s counterpart, Finance Minister Fernando Medina, and attended a seminar on Luxemburg and the Portuguese financial sector hosted by the Luxemburg for Finance (LFF). Did. Finally, as President of the Luxembourg House of Financial Technologies (LHoFT), Yurik Backes went to the Fintech House in Lisbon and witnessed the signing of a partnership between LHoFT and Portugal Fintech.

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Yuriko Bucks, Minister of Finance

Yuriko Bucks, Minister of Finance

During the meeting, Ministers Bucks and Medina grasped the macroeconomic situation in Europe, which was strongly affected by the war in Ukraine and the remarkable rise in inflation. The Minister emphasized the need for coordinated action and close coordination of budget policies by EU member states to address this new crisis, which has been devastating to Europe. Welcoming the good relations between Portugal and Luxembourg, the Ministers also agreed to deepen exchanges on sustainable investment policies.

In a speech at the Portugal-Luxemburg Economic Forum in front of the Grand Ducal couple and the President of the Republic of Portugal, Yurico Bucks recalled the exemplary recovery of the Portuguese economy after the 2008 financial crisis and the resilience of Europe. Union: “More than ever, the world needs a strong and unified European Union.”

The minister also spoke to an audience of experts in the financial sector of Portugal and Luxembourg at a seminar entitled “Funding for a Sustainable Future in Europe” hosted by the Luxembourg for Finance, a financial center development agency. I heard. Emphasizing the important role of financial centers in the single market, Yuriko Bucks said, “The fight between climate change and energy security is inextricably linked. The financial sector is to mobilize trillions of investments. The key, the European Union’s commitment to future generations. “

The official visit was also an opportunity to strengthen the relationship between Portugal and Luxembourg in the field of fintech. Therefore, the Minister of Finance went to FinTech House, a fintech incubator in the heart of Lisbon, to meet Portuguese innovators and start-ups. On this occasion, LHoFT and Portal Fintech have signed a partnership agreement to support Fintech companies seeking access to their respective markets and enhance collaboration on key themes such as payments, AI and blockchain technology. The agreement also sets out two “hubs” that work together in the field of so-called “green” fintech.

Yuriko Bucks said: “We welcome this partnership between LHoFT and Portugal FinTech. As an international financial center and platform for sustainable investment, Luxembourg is a great complement to Portugal. His artificial intelligence, big data and decentralized ledger. Technology will play an increasingly important role in our efforts for green and sustainable finance. “

Contact from the Ministry of Finance