Madeira's regional Secretary for the Economy, José Manuel Rodrigues, stressed the importance of the Madeira International Business Centre (CINM) for diversifying the regional economy at a meeting of the Economic Advisory Council.
According to the secretary, the Free Zone accounts for about 80% of Madeira's exports and between 12% and 13% of the region's annual tax revenue. He acknowledged that the centre is going through a difficult phase, which he attributed to legislative uncertainty and fiscal instability.
Professor Iva Guterres argued for a new regime based on legal certainty, a longer time horizon and clear requirements, noting that annual extensions undermine investor confidence.