As part of the partnership between the Portuguese Diaspora Council and Jornal de Negócios, Paula da Silva, Member of the Board at Svensk Exportkredit, and Counselor of the Eastern Europe Regional Hub, was interviewed by Jornal de Negócios. In the interview, Paula da Silva discussed her professional journey and identified competitive opportunities for Portugal, its economy, companies, and entrepreneurs in general.
1 – WHAT LED YOU TO LEAVE PORTUGAL?
My father secured an employment contract as a welder at the major Swedish shipyard, Kockums, which built oil tankers for global export. I was nine years old, and together with my mother and two siblings, we all moved to the city of Malmö in Sweden. Later, my parents had another daughter, who was born in Malmö.
At the time, what attracted them was the opportunity for a more comfortable financial life, high-quality free schools, as well as opportunities for development, freedom of expression, and an egalitarian society. For us children, it offered a unique opportunity to have an extraordinary experience, to be exposed to new traditions and customs. It gave us a broader outlook beyond our own culture — which we have always maintained — and it made us stronger and more resilient.
2 – WHAT ADVANTAGES OR DISADVANTAGES HAS THE FACT THAT YOU ARE PORTUGUESE BROUGHT YOU?
Being Portuguese gave me the advantage of having an additional language, which made it easier to learn other languages — a positive differentiator in an international context. The experience of moving to another country also fostered a problem-solving mindset, resilience, and creativity, which proved extremely valuable both in everyday life and throughout my career. We Portuguese are a people with remarkable adaptability, which is a great asset.
As a Southern European foreigner, I always had to work a bit harder than my Swedish peers, which perhaps helped me rise in an industry with a very traditional legacy.
3- WHAT OBSTACLES DID YOU HAVE TO OVERCOME AND HOW DID YOU DO IT?
Sweden has always been, and still is, a very different country from Portugal, but more than 50 years ago the differences were enormous. The Swedish people are more reserved, a much calmer society that avoids conflict, with a deeply rooted mindset of freedom. As a Portuguese person, I had to learn and adapt to a different mentality. I kept the Portuguese determination, but with different strategies.
I learned that to achieve the desired result, one cannot always take the shortest route; instead, one must choose the most efficient one, in a more strategic way. Having both skill sets is a tremendous advantage, although it has not always been easy. Portuguese seriousness, creativity, and passion made all the difference. These are superpowers that I believe we have in our blood, and ones we can continue to develop.
4 – WHAT DO YOU MOST ADMIRE ABOUT THE COUNTRY YOU ARE CURRENTLY IN?
The way of working in groups and listening to all perspectives leads to more informed decisions and solutions that are easier to implement. Flatter organizations result in more consensual decisions and implement strategies more effectively. Swedes are highly regarded worldwide for being honest, reliable, and strong negotiators. For this reason, they are often chosen for global, complex missions that require the ability to understand fundamentally different viewpoints.
Maintaining one’s own values while respecting the values of others is something I observe daily and deeply admire. It is a quality that I believe would benefit us as well if practiced more often in our country.
5 – WHAT DO YOU ADMIRE MOST ABOUT THE COMPANY / ORGANIZATION YOU ARE IN?
I worked in private banking for four decades, alongside long-term-minded managers with strong adaptability to the geopolitical and macroeconomic shifts of each era. This strategy has fostered resilience, pride, and passion for work at every level, keeping the institution at the top of the industry for two centuries.
SEB is an international bank, managed by the same family — the Wallenberg family — for six generations. I have great admiration for the way they run their businesses, not only the bank but also the companies within the group, consistently throughout the years. It is not the last cent or the latest quarterly results that matter, but rather the long-term survival and prosperity of the companies. These values inspire loyalty and deep admiration.
6 – WHAT RECOMMENDATIONS DO YOU HAVE FOR PORTUGAL, ITS ENTREPRENEURS AND MANAGERS?
Networking is very important and could be much more developed in Portugal. Establishing and strengthening end-to-end supply chains is crucial for the country. Bringing together diverse skills, adequate supply structures, and appropriate financing creates a stronger and more resilient industry. Portugal is far stronger than the capacity of each individual company on its own.
Likewise, the Swedish model of collaboration between the state and the business sector would be highly beneficial for Portugal and would be worth studying more closely. As a small country in Europe, Portugal should collaborate more intensively with the European community in order to benefit even more from accessible funds for Portuguese projects.
We need greater investment in infrastructure, energy, and the growth of our industrial base. In this regard, we must broaden our understanding of how the European “game” works. We need more Portuguese representation on working groups, committees, and boards where these decisions are made, so that our country can become even more competitive and take on a leadership role.
7 – IN WHICH SECTORS OF THE COUNTRY WHERE YOU LIVE CAN PORTUGUESE COMPANIES FIND CUSTOMERS?
Sweden has globally recognized defence, telecommunications, and mining sectors that would benefit from Portuguese expertise and capabilities, especially if we include all Portuguese-speaking regions around the world where Portugal holds specific knowledge and qualifications. Our international leadership ability and adventurous spirit are unique and valuable in many sectors that remain unexplored.
8 – IN WHICH SECTORS IN PORTUGAL COULD COMPANIES IN THE COUNTRY WHERE YOU ARE WANT TO INVEST?
In the mining, defence, energy, and telecommunications sectors, trade between Sweden and Portugal is still not significant and has great potential to grow. Portugal has a great deal of talent, especially among the younger generations, and many Swedish companies are already benefiting from it through investments in the services sector in Portugal. We have the opportunity to learn and create new businesses based on this talent for our own benefit.
In the digital, programming, innovation, and AI fields, it is important to nurture this talent, offering international-level conditions so people can grow within the country. This area is developing very rapidly, and we need to act now so we do not lose competitiveness and pace. With our ability to adapt, we could position ourselves as a strategic partner for companies that have already chosen Portugal and already value our talent as a platform for growth.
9 – WHAT IS THE COMPETITIVE ADVANTAGE OF THE COUNTRY YOU ARE IN THAT COULD BE REPLICATED IN PORTUGAL?
Sweden and Portugal are countries with a high dependence on exports and imports, with around 50% of GDP tied to this area. Swedish working methods, their capacity for innovation, as well as access to specialised development banking institutions such as Svensk Exportkredit (state financing) and Exportkreditnämnden (state guarantees), are often highlighted as competitive advantages for international projects and business opportunities that benefit Swedish exporters.
These working models, along with state–private sector collaboration, could be more deeply studied and replicated in Portugal, thereby expanding the global reach of Portuguese industry. Sweden is among the most innovative countries in the world and is home to many experimental industries and advanced new technologies. Increased exchange between the two countries would, without doubt, be mutually beneficial.
10 – ARE YOU THINKING OF RETURNING TO PORTUGAL? WHY?
Perhaps one day. At the moment, the advantages of remote work already allow me to spend more time in Portugal, which I love. Portugal has a very pleasant climate, great cuisine, and friendly, open, and helpful people. It is a diverse society with enormous potential. I would like to contribute to the country’s growth and development.
Having been away for more than half a century, I am reintegrating and relearning many Portuguese customs, and I admire how there is always a solution and we keep moving forward. This fits well with my mindset, and I find it very appealing.
