Guimarães, the cradle of Portugal, has launched an economic strategy for the city that will include launching a development agency on similar lines to ‘Invest Braga’.
The ambition is being spearheaded by Ricardo Araújo, the current mayor of Guimarães, who has just completed his first 100 days at the helm of the city’s management after winning the seat as an MP for the PSD, breaking a long 36-year tenure by the PS Socialist Party in the city, in October last year.
“We are going to create a working tool to operationalise this strategic plan, which will be an agency for economic development,” said the mayor. “We need to diversify our economic fabric into areas with strong added value, technological centres, and that can, therefore, bring in better revenues.”
As a borough, Guimarães has a strong industrial tradition in areas such as textiles, footwear, cutlery and metal-mechanics but needs to diversify its economy and business network to put the city on the map as a benchmark in Europe for innovation and lifestyle quality, as well as raising the average salary.
“I believe that it is the application of research, knowledge and science in the real economy that produces added value in the different sectors of economic activity, whether in products or processes. It allows for an increase in added value and makes companies more competitive and, therefore, more profitable. Being more profitable, they can distribute the remuneration of their business activity,” Ricardo Araújo told news source ECO in an interview.
Source: Essential Business
