After approving the new Private Investment Law in general last week, the Portuguese Parliament approved it definitively and by consensus on Wednesday.

The government justified this approval by the need to make the country "more attractive to domestic and foreign private investment".

The law passed with the votes in favor of all three sides of parliament replaces the one that had been in force for 30 years.

According to the Ministry of Industry and Trade, "this revision is taking place after nearly 30 years" of the current law, and is justified by "harmonizing it with other legislation on the business and investment environment in the country".