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HomeEconomy“Portugal and Spain have a unique opportunity.”

“Portugal and Spain have a unique opportunity.”

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McKinsey’s head of Portugal and Spain says the firm is reinventing what it means to be an advisor, moving beyond the traditional role of an advisor who identifies an opportunity and advises a client. He says McKinsey is moving forward and helping clients implement projects. José Pimenta da Gama also talks about the opportunities available regarding the energy transition.

Portuguese José Pimenta da Gama heads the Iberian office of consulting firm McKinsey & Company, and divides his time between Lisbon and Madrid. In an interview, on the sidelines of the “Media Day” organized by the Chancellor, which was held on Wednesday in Frankfurt, Pimenta da Gama spoke about the opportunity available to Portugal and Spain to invest in renewable energy and green recycling. He stresses that it is a unique opportunity to “reverse the years of disagreement with European and global growth.”

This Wednesday, here in Frankfurt, they presented a scenario for investment in the energy transition in the Iberian Peninsula until 2030. They believe that the amount invested could reach 200 billion euros, given the advantages that Portugal and Spain enjoy compared to other countries. Does this new industrial revolution represent an opportunity for our countries to overcome the historical gap with other European countries?
For the first time in many decades, our countries have the opportunity to deal with what we call the next industrial revolution. This opportunity exists due to a range of structural factors. These are not intentions, they are realities, and yes, if done well, they can transform our countries, delivering growth and creating qualified jobs. Achieving greater prosperity and ultimately higher per capita income. Thus reversing years of some divergence with European and global growth.

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What are these competitive advantages for Portugal and Spain? Is it natural resources, like the fact that we have 300 days of sunshine? What about capacity from a logistical point of view?
It depends on two or three different types of factors. Yes, it is based on natural resources and natural assets, we call it that. It is also based on a set of human assets. Nowadays we already have companies and people that allow us to seize this opportunity. And the third is, yes, it relies on a range of infrastructure assets. But more is needed.

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