As part of the partnership between the Portuguese Diaspora Council and Jornal de Negócios, Tiago Carvalho, General Manager of the L’Oréal Group for the Professional Products Division in the SAPMENA region (South Asia, Pacific, Middle East, North Africa) and Counselor of the Regional Hub of Asia, was interviewed by Jornal de Negócios. In the interview, Tiago Carvalho discussed his professional journey and identified competitive opportunities for Portugal, its economy, companies, and entrepreneurs in general.

1- WHAT LED YOU TO LEAVE PORTUGAL?

The curiosity to explore new cultures, to expand horizons and the possibility of growing professionally were the great motivations for, just over 11 years ago, accepting the challenge of leaving Portugal. From a very early age, I always had the ambition to embrace an international career and the fact that I worked in a multinational that stimulates these experiences was a decisive factor. I left in mid-2013, after 10 years at L’Oréal Portugal, heading to Mexico, where I was invited to take over the Marketing Director for Latin America. It was the beginning of an adventure of discovery that is renewed every day after 11 years.

2- WHAT ADVANTAGES OR DISADVANTAGES DID BEING PORTUGUESE BRING YOU?

I think that all Portuguese have this explorer gene. We have an unusual capacity for adaptation, an enormous facility to understand and respect different cultures. In my case, I had 10 years of experience in Latin America before arriving in Singapore.

In countries such as Mexico and Argentina, the Portuguese presence is small, but always seen in a sympathetic way. In Brazil, and in particular in Rio de Janeiro, Portugal is very present in everyday life. In the generations that arrived in the 50s and took over traditional commerce, in food, on the sidewalk. In Singapore, we are very far from Portugal. Geographically, culturally and economically.

 In general, being Portuguese in the world makes you feel the relatively small size of our country and our economy, but also the enormous size of our culture and our way of being.

3- WHAT OBSTACLES DID YOU HAVE TO OVERCOME AND HOW DID YOU DO IT?

The great obstacles are naturally cultural. In the way of leading, of motivating people, of mobilizing in the face of new challenges and opportunities. To overcome these obstacles, the first thing to do is to understand the cultural identity of the country we are coming to or with which we want to do business. Finding the local partners who help us improve this understanding and unblock the most complex situations is fundamental. Sometimes, they are extremely simple things. I remember that, when I was in Brazil, the trigger for a conversation that sometimes unlocked complex situations was to show a genuine interest in the personal lives of my teams. In the end, it all comes down to the human experience. Connecting with people from different cultures is both the challenge and the key to overcoming it.

4- WHAT DO YOU ADMIRE MOST ABOUT THE COUNTRY YOU ARE IN?

In Singapore, I admire strategic planning, decision-making and speed of execution. The time between decision-making and execution is extremely short. This is vital for the development of the country. Singapore has a clear vision for the medium and long-term future. The 2030 vision is widely communicated in terms of the economy, sustainability, infrastructure. The quality of political leaders is perceived as quite high, which gives a strong credibility to government bodies and lets them make the necessary decisions to move the country forward. The level of security in the country is also impressive. It is common to see 8-year-old children alone on the subway going to school. There is a very structured approach to providing an organized society, where each citizen feels that he can contribute, whether from an economic point of view, from a social point of view or even in the care of common spaces.

5- WHAT DO YOU ADMIRE MOST ABOUT THE COMPANY/ORGANIZATION YOU ARE IN?

L’Oréal is a fascinating company. With a century-old history, it manages to be simultaneously agile, innovative, but also perfectionist. We believe that what makes the company are the people, so the entrepreneurial spirit and sense of ownership is always present. We privilege effort, individual contribution and the ability to collaborate in the process. I really admire this facet of person versus process.

In addition, we have fantastic brands that connect with consumers around the world and we are outstanding leaders in key world markets.

6- WHAT RECOMMENDATIONS WOULD YOU GIVE TO PORTUGAL AND ITS ENTREPRENEURS AND MANAGERS?

To Portugal and to the Portuguese, I would recommend that we all believe in the potential of our country. We have clear differentiators that can become competitive advantages.

First of all, our historical and cultural heritage allows us to reach different geographies closely: in Africa, in the Americas and even in some Asian countries. Maximizing this heritage with our ability to adapt makes it easier to create businesses in different parts of the world. In a small market like the Portuguese one, the expansion of our products and services across borders is extremely important for sustainable growth and at scale that allows us to create wealth and value back to our country. Secondly, we must continue to take advantage of our privileged geographical position not only to attract investment for tourism, but also to foster job creation through global or regional service centres that can be established in our country. We must continue to invest in the development of local talent, but also attract talent to develop new competence centers.

We urgently need a better functioning of the Judiciary. We need to put an end to “chico-espertismo”, with excessive bureaucracy and introduce speed in the processes so that the business environment is healthier. Finally, we need to combine our agility with greater discipline and organization; And this starts in schools, in the education of the younger generations.

We need to be more methodical, more systematic, more organized.

7- IN WHICH SECTORS OF THE COUNTRY WHERE YOU LIVE CAN PORTUGUESE COMPANIES FIND CUSTOMERS?

Singapore has a strong focus on attracting investment in technology, finance, sustainability, health services and education.

Any Portuguese company that wants to invest in Singapore will find a positive environment for wealth creation, access to the huge Asian market, but also a very competitive environment.

8- IN WHICH SECTORS IN PORTUGAL COULD COMPANIES IN THE COUNTRY WHERE YOU ARE WANT TO INVEST?

There is a constant interest from Singaporean companies, or based in Singapore, to invest in areas of innovation and technology and there is a lot of capital available looking for the best investments. Being a country with a lot of purchasing power for private individuals, family offices and investment funds, the real estate market  in Portugal can also be very attractive.

9- WHAT IS THE COMPETITIVE ADVANTAGE OF THE COUNTRY YOU ARE IN THAT COULD BE REPLICATED IN PORTUGAL?

Singapore has several competitive advantages that could be replicated in Portugal. In terms of strategic location, Singapore is a gateway to Southeast Asia, China and India. Portugal can position itself as a bridge between Europe, Africa and South America.

In terms of talent, Singapore is positioned as a hub for highly skilled labor, attracting people from all over the world. Portugal needs to quickly learn to retain its highly skilled talent, or at least to have the ability to bring back many of those who have left.

For both cases, we need favourable tax policies, which offer investors and the most qualified workers clear advantages in their income and capital gains. And to do so without complexes and without endless political discussions.

10- ARE YOU THINKING OF RETURNING TO PORTUGAL? WHY?

Despite being away for over a decade and having lived in 4 different countries, Portugal will always be the country I call home. It’s part of my identity and my family. I return to Portugal every year, at least 2 times a year, to visit my family and friends and I always try to make my children understand that this is their country, their culture.

In the future, I plan to return to Portugal and I hope to do so at a time in my life where I can still make a positive contribution, through the various experiences I have acquired in other places.