Companies will grow if Europe becomes ‘anti-bureaucracy oasis’
Portugal’s economy minister, Pedro Reis, has spoken today about the importance of Brussels reducing bureaucracy so that companies can grow.
Stressing the need to create common legal instruments, he told the 18th Cotec Europa summit in Coimbra (Cotec Europe bringing together Spain, Italy and Portugal to discuss common problems*): “If we manage to make Europe an anti-bureaucracy oasis in this next cycle, and deregulate as much as possible, we will already be doing what companies need, and then we can let them breathe. If Brussels takes care of removing bureaucracy, companies will be grateful and grow on their own.”
The minister was taking part in a panel discussion entitled “Acting together: Policies for competitiveness”.
His masterplan involves: “common legal instruments that allow a product to be launched throughout Europe simultaneously – harmonisation is tremendously important. European seals of excellence that positively mark projects and achieve competitiveness with scale, particularly if they help competition and the removal of bureaucracy, which is the great challenge,” he admitted.
Portugal “depends only on its ability to innovate and reindustrialise”, he added, suggesting that the country is “at the heart of the new knowledge revolution.”
“So cut regulation, I will insist, cut bureaucracy and taxation. Give companies oxygen and we will get there.”
The heads of state of Portugal, Spain and Italy are also present at this summit, to be attended by former European Central Bank (ECB) president and former Italian prime minister Mario Draghi.
*COTEC is a business association that partners with institutions in Portugal, Spain, and Italy. It holds a tripartite meeting every year, on a rotating basis, in each country, bringing together business leaders, academics, and policymakers to discuss challenges to competitiveness and economic growth in the European bloc, based on the Heitor, Letta, and Draghi reports.
Source: LUSA
