Portugal has to avoid the ″trap″ of competition for low costs to grow
Despite the 6.7% forecast for this country of Banco de Portugal’s growth, which hinders convergence with Europe and a leap in its competitiveness. For Fernando Alexandre, an associate at the University of Minho, Portugal needs to transition “from an economy based on price competition” to “an economy based on brands”. Only in this way, it is believed, will it be possible to protect public accounts from “external shocks” and “competition from emerging countries”.
However, for the growth recipe to work, it is necessary to keep the ingredients that are considered essential. On the one hand, the national talent and its valuable human resources to produce goods with high added value, and, on the other hand, guarantee an “economic environment and services favorable to national and foreign investment”. “We also have guarantees, an environment, infrastructure and fiscal stability that provide for a long-term guarantee and processes”, of innovation and achievement in statements News Diary.
In addition to fiscal stability, the weight of activity classification on activity is an Achilles heel also known to economists and confirmed by international economists. The assessment by the Tax Foundation and the Instituto + Liberdade think tank, published in the 2022 International Tax Competitiveness Index Rankings, Portugal is the third country in the OECD with the worst ranking in terms of fiscal competitiveness, followed by Italy and in the general ranking. On the other hand, Estonia occupies the first position in the list. Also this year’s table of the Institute for Management Development, which annually places the conditions to compete in the global economy, Portugal in the position with the best terms of competitiveness when, in 2021, it occupied the 36th place.
Grow on the Innovation Ride
For countries to move away from countries used by emerging countries, whose competition “is based on low production costs, particularly in countries”, argues that “ugal has to escape this trap” and compete “for its capacity to innovate”. from hiring to hiring talent, focus on more and more professionals, focusing on quality apostate from companies, many of them with their own quality management, many of them with formal training. In fact, the study made in ao created in – A new paradigm for the Portuguese economy”, as Francisco by Fernando Alexandre at the request of the Manuel Santos Foundation, points out that, in 2018, only a third of nationals had an administrator with higher education training. .
“[A inovação] “Companies that have knowledge of the talent of the younger generations with another hand, knowledge”, professors also teach economists. , which “should be used to improve working conditions and productivity”.
Productivity will be organized automatically, the theme of Fernando Alexandre’s intervention in the Fora da Caixa – Exportar, Crescer e Inovar initiative, by Caixa Geral de Depósitos (CGD) and to which Diário de Notícias joined, which takes place this Thursday, 24 , in Funchal.
The national event, which will feature a Baltazar Municipal Theater in the future, between 6 pm a program dedicated to thinking about CGD’s economic programme. This is followed by an interview with the Regional President of Madeira, Miguel Albuquerque, about the time by the director of the DN, Rosália Amorim, as a perspective for the growth of DN2023. , director of the Savoy Group, Christopher Blandy, CEO of the Blandy Group, Francisco Taboada, president of Empresa de Eletricidade da Madeira, and Francisco Cary, executive director of CGD.
The Encontro Fora da Caixa ends with a conversation between the direction of the DN and the sculptor and painter Francisco Simões, responsible for creating monuments in public spaces, such as the sculptures that decorate the Parque dos Poetas, in Oeiras. The initiative will be transferred, live, no DN site from 15:00.