PSD deputy José António Garcês highlighted the economic potential of São Vicente and the conditions the municipality offers to attract new investment, particularly in northern Madeira.
His remarks came on the second and final day of the PSD parliamentary group's local meetings. On the morning, deputies visited the North Gardens company and took part in a panel on the economy and taxation with business representatives from several sectors.
Garcês pointed to the reduced corporate tax rate of 8.75% on the first €50,000 of taxable profit, which applies to eligible companies in northern Madeira and Porto Santo. According to him, the entrepreneurs' testimonies show that investing in São Vicente is no different from investing in other municipalities of the Autonomous Region.