The Regional Secretary for Economy, José Manuel Rodrigues, revealed that the Business Development Institute (IDE) has approved 705 Madeiran business projects.
Incentives were announced with a 10 percentage point increase in transport support for companies exporting regional products, benefiting businesses in the Madeira International Business Centre with 80% and those in the rest of the region with 90%. A new incentive system for micro and small enterprises, focused on new investments, modernization, and expansion, is also being prepared.
These measures are part of consolidating a regional economy "based on the private sector," which has contributed to 60 consecutive months of economic growth and a GDP increase of about 80% in the last decade. By 2027, a global package of 150 million euros in support will be available, using European funds and the regional budget, aiming to create an "investor-friendly economic climate" through tax reductions and economic diversification.
