Fainé: "We must anticipate the market without losing the social purpose of the company"

BarcelonaThe president of the Spanish Confederation of Managers and Executives (CEDE), Isidre Fainé, today urged business leaders to anticipate market trends "without losing sight of the company's social purpose." During the closing ceremony of the organization's 24th congress in Zaragoza, the president of the La Caixa Foundation and Criteria called for leadership marked by "humanistic and social values" to contribute to a more inclusive growth model. "Change is constant, and the speed at which it occurs forces us to be in a state of permanent adaptation," he said. He noted that "we are living in a time of great technological, economic, and social transformations," and in this environment, "strategic planning is essential, but it will only be effective if it is accompanied by flexibility, rapid response, and a comprehensive vision." Throughout his speech, Fainé explained many challenges that can bring opportunities and that arise from "major global forces, such as the European integration process, growing social inequalities and political polarization, international geopolitical conflicts, climate change, the demographic transition, and, of course, the technological revolution." Fainé stated that "today, business leaders are expected not only to be efficient, but also to set an example and demonstrate social commitment." He added, "Corporate legitimacy is increasingly built on its social utility." Fainé urged executives to take action so that companies become "engines of progress and vectors of social cohesion" and contribute to "a fairer, more inclusive, and more sustainable society." In his view, leaders must "treat people with respect, think long-term while remaining mindful of the short term, and anticipate future needs." One of the key elements, he added, is innovation. And he expressed his conviction that the prosperity of society "will not be determined by machines, markets, regulations, or artificial intelligence, but will depend on our human capacity to think and act with meaning, wisdom, purpose, and with heart."

For his part, the Minister of Industry and Tourism, Jordi Hereu, who also participated in the event, asserted that deindustrialization has been halted. He stated that the secondary sector currently represents 15 percent of the gross domestic product (GDP), but that "now, in absolute terms, we are at a peak in industrial value added in the last 30 years." After decades of decline, this process has stopped to begin a new phase of reindustrialization "to strengthen Europe."

Industry and the European model

During his speech, Hereu linked industry to the defense of the European model. At a time he described as "regionalized globalization," the minister emphasized that industry means greater productivity, one of the challenges facing the Spanish economy. It also allows for innovation and increased exports, and therefore, a higher quality of life. One of the Spanish government's priorities, he said, is "to work towards the reindustrialization of Spain to end decades of offshoring of productive activity and begin a path of reindustrialization." In the field of tourism, he said that "the goal is to transform ourselves to maintain the country's clear leadership." He stated that up to September there had been 76 million visitors, a 3 percent increase, and spending of 105 billion euros, a 7 percent rise.

In both sectors, he emphasized the importance of the Next Generation EU funds and their deployment through PERTE (Strategic Projects for Economic Recovery and Transformation). In his view, it is about "reindustrializing ourselves to strengthen Europe, because it is the model of greatest freedom and well-being." Hereu warned that it will be very difficult to defend the European way of doing things "if we do not reinforce Europe's economic and productive base," which will also contribute to financing the welfare state, one of the defining features of the model.

The minister warned that the European model "has enemies" and that is why "we must relocate productive activity to Europe." "I defend globalization because it has reduced poverty, but now comes the stage of Europe's strategic autonomy, and strengthening it is the first element," he said.

Throughout his speech, he emphasized that the State is "in a phase of active industrial policy like never before." He acknowledged challenges such as administrative simplification, as well as competitive advantages resulting from the investment in renewable energy. "That's why international operators are coming," he added.

Stock market risk, public spending, and "non-banks"

On the same day, the Vice-President of the European Central Bank (ECB) stated that the European economic situation "is better than expected a few quarters ago," and recalled the impact of the tariff agreement with the US, which in his opinion has been "bittersweet," since it prevented an escalation of the trade war in the middle of the year. He also warned of a possible stock market "correction," but not one on the scale of the financial crisis. dot com in the early 2000s. Another risk is fiscal, since it will also require "spending more and better on defense." And a third risk is the so-called "non-banks," which range from funds to private markets, made up of hedge funds.andthe private equityThese institutions are increasingly interconnected with banks. He added that they are also heavily indebted and lack the same level of supervision and regulation as traditional financial institutions.