Factory Conference 2030
NITextile participated in the 7th Annual Eco Conference – Fábrica 2030, organized by ECO, which took place on February 8, 2024 in Porto, with the focus of debate “where the country is going”, where it brings together political, business, entrepreneurs, investors and mayors, to discuss the critical factors for increasing the economy’s productivity and competitiveness of the economy Portuguese.
The evolution of the risk landscape is now global, more diversified, and not just environmental, social, economic, technological and geopolitical issues are imminent in the short term and according to the PwC study the main themes to consider for 2024 are:
- Geopolitics: armed conflicts, China-Russia-Iran relations, US-EU (mis)alignment and elections in around 76 countries.
- Macroeconomics: increase in inflation, high interest rates, risks to value chains and the economic loss of the West.
- Technology: The progress of Artificial Intelligence, quantum computing, sustainable technologies and cyber risks.
- Sustainability: through climate change, energy transition, decarbonization and dispute over critical minerals.
Another warning, left by PwC “Good leader, not (just) manager”, where leadership needs a balance between the institution, area, company or country, where it is necessary to create a difference and encourage people to be followed.
Here are the highlights:
– The importance of creating value and developing long-term strategies for Portugal was discussed, where Productivity, Innovation and Digitalization must be its priority for an Industry 5.0.
– They highlighted the importance of Migration Policies and strategies to capture and retain talent aligned with business needs.
– Tax burden and productivity in Portugal are among the highest in Europe, while low productivity continues to be the biggest challenge.
– Challenges facing Portuguese companies in accessing financing and competitiveness in the European market.
– They highlighted the importance of investment to stimulate economic growth and create a virtuous circle of prosperity.
– Portuguese families face difficulties with disposable income, highlighting the cost of living, health and housing as priorities, which impacts Portuguese emigration.
– Portugal was one of the OECD countries that lost the most purchasing power since pre-pandemic.
– The debate about the role of the public ministry and the risk of judicial activism gained prominence in the attractiveness/deterrence of investment.
– The importance of the new Lisbon airport for economic convergence with Europe was discussed.
– The socialist leader emphasized that a conservative approach is more prudent for the economy, and expressed concern about the ineffectiveness of the Banco de Fomento.
– The democratic alliance presented ambitious goals for economic growth, promising a rate of 3.5% to 4% of GDP.
– Demographic challenges: Portugal faces significant demographic challenges, with a projected loss of population and increased dependency on the elderly.
These debates provided valuable insights into the challenges and opportunities facing the country, highlighting the need for effective policies and strategies to drive economic growth and prosperity.