The Minister of Economy defends the transformation of the productive fabric to get out of the current crisis

The Minister of Economy defends the transformation of the productive fabric to get out of the current crisis

On Friday, the Minister of Economy and the Sea, Antonio Costa Silva, defended the need to proceed with a “radical transformation” in the country’s productive fabric to get out of the current crisis. Pedro Siza Vieira’s successor said there could be no “illusions” and that a medium and long-term strategy was needed to make the country grow.

“noWe can have no illusions, we are going through a very difficult moment,” the Minister began, in the debate on the Government’s programme, in the Council of the Republic. A medium and long-term strategy to ensure the country’s growth and the development model we want for the future.”

“We can, at the difficult crossroads in which the country is, change course to boost growth and change the development paradigm. How are we going to do that? Bring more money into the economy, bet and stimulate companies that produce competitive goods and services in the global market.”

For the new minister, the government should bet on “six levers” to make the country grow, starting from the beginning by boosting the “qualifications and skills of workers,” which are below the European average, and “corporate capitalization.” Portuguese, which are mostly micro, small or medium sized.

Antonio Costa Silva also sees it necessary to set aside the low wage model and invest in technological innovation, and move the mobilization agenda of the Resilience and Recovery (PRR) plan. The fourth “leverage” relates to promoting financial and digital literacy, which should be done through partnerships with business schools.

In companies, Antonio Costa Silva wants to nurture the “innovation ecosystem”, by “incorporating knowledge into the productive fabric”, combining exports and imports in a more balanced way, realizing the “wonderful effort” of some companies to “increase exports and replace the imported content of our exports” .

“For this, regardless of our differences, we need to know how to work with each other, side by side, and create great cooperation platforms to change the productive fabric of our country for the better,” Antonio Costa Silva concluded.