Madeira wants to attract investment from the UK in the wake of ‘Brexit’
The Regional Government of Madeira and the Portugal IN Mission Structure today signed a cooperation protocol to increase foreign direct investment in the region following the departure of the United Kingdom from the European Union (EU).
“Madeira is the oldest tourist region of the country, where the English market is the most important market, and a major goal was to turn an average stay of a seven-day tourist into an investment ratio in different dimensions for twenty or twenty five” said Bernardo Trindade, president of Portugal IN Executive Committee, on the sidelines of the signing of the protocol today at Palácio Foz in Lisbon.
According to Bernardo Trindade, the Autonomous Region of Madeira has an “important public policy instrument”, the International Business Center of Madeira (CINM), which has “significant tax advantages” and that it is necessary to make known.
The Madeira Regional Vice-President, Pedro Calado, highlighted the “very positive growth of the region’s economy” and the “right moment” in which the protocol was established.
“With the conclusion of this protocol, the objective is to consolidate a tourism market for the region, to attract foreign investment also from the United Kingdom, which has a lot of weight in our revenues, to consolidate our tourism and to create here an important source of consolidation of foreign investment from the United Kingdom in Madeira, “said Pedro Calado.
The Portugal In Mission Structure, which aims to attract to the country investments that intend to remain in the European Union after the ‘Brexit’, was created in April 2017.