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The presence of our CEO, Bernardo Maciel, in the roundtables reinforced Yunit Consulting's commitment to contributing to the public debate on the most critical topics for the national business fabric.
The session was opened by Pedro Nuno Santos, leader of the Socialist Party (PS), who advocated for the need to cut red tape in processes and bet on the selectivity of the economy, referencing the liberal practices of the Netherlands. Regarding the new American tariffs, the socialist leader highlighted the urgency of a European diplomatic effort to avoid a protectionist escalation. Regarding the reduction of CIT (Corporate Income Tax), the leader was adamant: “It is not a reduction in CIT that will make the economy grow at a staggering rate”, signalling that the country does not have the highest effective rates.
“It is not a reduction in CIT that will make the economy grow at a staggering rate. Companies that manage to reinvest in research and development, in capitalisation, achieve a much lower effective rate” Pedro Nuno Santos, Party Leader of the Socialist Party (PS)
“It is not a reduction in CIT that will make the economy grow at a staggering rate. Companies that manage to reinvest in research and development, in capitalisation, achieve a much lower effective rate”
In the "Business Snapshot" (Radiografia Empresarial) panel, the tone diverged from the socialist position. Rafael Campos Pereira, executive vice-president of AIMMAP, argued that the high tax burden strangles private investment and compromises growth. Meanwhile, César Araújo, president of ANIVEC, warned of the dramatic impact of American tariffs on the Portuguese textile sector and the need to protect European industry from unfair competition. Luís Pedro Duarte, president of Portugal DC, brought the topic of political stability to the discussion, highlighting that current uncertainty drives away foreign investment and harms the economic environment of a country that "has the conditions to attract investment".
“We have a fiscal stranglehold that constrains growth. [It is necessary] to lower CIT to stimulate private investment and lower PIT to help motivate our workers” Rafael Campos Pereira, executive vice-president of AIMMAP
“We have a fiscal stranglehold that constrains growth. [It is necessary] to lower CIT to stimulate private investment and lower PIT to help motivate our workers”
The panel dedicated to corporate financing highlighted the crucial role of banking in supporting economic growth. Luís Ribeiro, administrator at novobanco, stressed that banks are not just credit agents, but engines of value creation for families and companies. Armindo Monteiro, president of CIP, vehemently defended the reduction of the tax burden as an essential condition to attract foreign investment and improve national productivity. The experience of Ireland was pointed out as a success story that Portugal should consider.
Regarding the impact of North American tariffs, the prevailing idea was that Portugal must focus on the variables it can control, namely, improving competitiveness and administrative simplification.
“There is another world to which Portugal must turn. What we have to do depends on us, understanding where we are competitive, maintaining an open economy and increasing the weight of exports” Luís Ribeiro, administrator at novobanco
“There is another world to which Portugal must turn. What we have to do depends on us, understanding where we are competitive, maintaining an open economy and increasing the weight of exports”
In the "SME Heroes" (Heróis PME) panel, entrepreneurs shared first-hand the challenges they face. The roundtable was kicked off by the CEO of Yunit Consulting, who presented and explained the Heróis PME initiative and its importance to the Portuguese business fabric.
Clara Moura Guedes, president of Monte do Pasto, lamented the lack of support for innovation in the primary sector, calling for greater agility in incentive mechanisms. Subsequently, Luís Febra, administrator of the SOCEM Group, warned of the impact of unpredictability on business strategy and underscored the need for export support policies that favour long-term projects. He also argued for the existence of positive discrimination for companies that contribute most to value creation.
Bernardo Maciel, CEO of Yunit Consulting, highlighted that political instability has led to delays in investment decisions, warning of the importance of preserving the institutional stability of entities such as AICEP and IAPMEI, which are fundamental to supporting internationalisation and business growth.
“Until there is a clarification of what is happening domestically, they await stability for their investment path. These institutions [IAPMEI and AICEP] should be stable; they are organisations with an almost corporate logic, to give stability to those who are going to invest” Bernardo Maciel, CEO of Yunit Consulting
“Until there is a clarification of what is happening domestically, they await stability for their investment path. These institutions [IAPMEI and AICEP] should be stable; they are organisations with an almost corporate logic, to give stability to those who are going to invest”
Finally, Paulo Pires, responsible for Commercial Operations at Tabaqueira, called for a more open dialogue between the State and industry, reinforcing that the continuity of investments depends on a clear and stable policy. With over 400 million euros of investment and 90% national suppliers, Tabaqueira is an example of the capacity to generate local value with international impact. He also left a note on the future: innovation and artificial intelligence should be used authentically to promote personalisation and competitiveness.
The closing was delivered by Rui Rocha, leader of the Liberal Initiative (IL), who advocated for the need to reduce taxes on labour and companies to foster wealth creation. He criticised the focus on measures such as lowering VAT and reinforced the commitment to State reform with intensive use of technology for simplification and debureaucratisation. Regarding the political future, Rui Rocha assumed the commitment that the Liberal Initiative would be a factor of stability the day after the elections.
“I do not wish for this instability to continue, and I hope the next legislature lasts four years” Rui Rocha, Party Leader of the Liberal Initiative (IL)
“I do not wish for this instability to continue, and I hope the next legislature lasts four years”
The 9th Fábrica 2030 Conference was a space for debate on the main challenges the Portuguese economy faces today. Regarding political instability, the position is transversal across all entrepreneurs – it is necessary to achieve political stability to guarantee entrepreneurs that there is stability to invest. “The tariffs are enough”, as Bernardo Maciel says.
Throughout the conference, it was highlighted that it is not Portugal's size that diminishes the ambition of Portuguese entrepreneurs, but rather fiscal policies. The need to reduce CIT is crucial to reinforce investment in Portuguese companies, but this is not the only factor: reducing taxes on labour is also a priority to increase wages and reward the ambition of those who work. Ideas that contradict the discourse of Pedro Nuno Santos, who devalues the need to reduce CIT and, should he win the elections, aims to increase the minimum wage to €1,100 by 2029, assuming that this measure “will put pressure on some companies”.
Finally, American tariffs will impact various economic sectors, with the textile sector being one of the most affected. The idea remained that this is a moment to rethink strategy and diversify markets. Furthermore, entrepreneurs left some warnings to the European Union regarding imports and “unfair” competition with countries like China.
At the end of the conference, the conclusion was clear: entrepreneurs only want to be given stability and better fiscal conditions. We have resources, we have ambition, we have a country with tremendous potential. All that remains is to let entrepreneurs truly move the country forward!
Watch the conference here
Photo Credits: Hugo Amaral - ECO
Last update: 28 April 2025
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