Cavaco Silva, the President of the Republic of Portugal, warned today that Portugal will not find competitiveness by paying low wages and challenged business leaders to seize on the indicators of economic growth in the country and invest by paying employees ‘properly.’
"I have said and I will repeat that Portugal certainly will not find its competitiveness by paying low wages. There are many other countries in Europe and outside Europe with lower wage levels than in Portugal," warned the well-pensioned President.
What the country has to do, according to Silva, is to "win competitiveness by quality, innovation, creativity and by enjoying the quality of its human resources."
"Portuguese entrepreneurs should not delay investment decisions, should not delay looking at markets beyond the European Union, they have to invest and adequately remunerate their employees," according to the occupant of a palace.
The President was speaking in Campo Maior, Portalagre, at the inauguration of the Science Center for Coffee representing an investment of over €3 million by Delta Cafés Science and Development department, co-financed by Community funds.
Cavaco Silva argued that entrepreneurs should take advantage of the fact that Portugal is "at this very moment on a path to growth."
The Bank of Portugal "indicates that the Portuguese economy will grow even more in 2014, in 2015 and in 2016," said Silva, who called on all business owners "to seize the opportunities that result from a Portuguese economy that is awakening to growth and job creation."
The coffee development centre is an international facility for the diffusion of the scientific, technological and cultural aspects of the coffee trade and aims to contribute to entrepreneurship and new ways of learning.
Visitors will be able to enjoy a journey through time, understand the myths around coffee, the history of Portuguese ships, the coffee trade and the the need in the past to smuggle coffee.
Comments
So what has been holding Portugal back Mr ex PM - now President; all these centuries?
If not your type of oligarch protecting their families interests at whatever cost to their region or the country?
As Cavaco's relatives are part-owners of most of Portugals major businesses - will they be handing back their dividends to pay for wage increases ?
Was that a Deafening Silence ... I hear ?