He was appointed as Minister of Economy in November 2015.  
The Minister of Economy is responsible for strategy and policy aimed at economic growth and competitiveness. The Minister’s main policy areas are: business law, enterprise and business support, innovation, internationalisation of enterprises and promotion of trade, industry and investment, consumer protection, tourism, energy and geology. 
Manuel Caldeira Cabral was Professor of Economy in University of Minho since 2004.  
He was a former member of Parliament since October 2015. He was columnist in the economic newspaper Jornal de Negócios since 2007.  
In 2013 and 2014 he represented the Socialist Party in the negotiation of the partnership agreement between Portugal and the European Commission for the implementation of the European Structural and Investment Funds. 
He was an invited researcher in the World Bank Department of Commerce Investigation and Economic Integration, in Washington D.C., in 2012. He was economic advisor to the Minister of State and Finance between 2009 and 2011 and economic advisor to the Minister of Economy and Innovation in 2009. He was member of the Council for the Promotion of Internationalisation (2010 and 2011) and member of the coordination network for EU's Europe 2020 Strategy (2010 and 2011). 
He was expert evaluator of the Open Budget Questionnaire of East Timor (2010 to 2013) on behalf of International Budget Partnership. He worked in the cooperation program of the Foundation of Portuguese Universities in East Timor (in 2004 and 2007). He was researcher of the Economy Department of Nottingham University during his PhD and advisor of the Economy Department of University of Minho until he finished his PhD. 
He was advisor of the Portuguese Insurers Association (1991-1992). 
While he was studying, he worked as a journalist in Diário Económico and Semanário Económico (1988-1991).