During the recent Madeira 2020 debate José António Castro, the leader of the ‘Mais Porto Santo’ movement, said that it is not enough to point out what is missing in Porto Santo in terms of its economy, but we need to discuss what can be done to help the island and its people. In his address he said “We are experiencing great difficulties; unemployment is huge and currently stands at 600 people. What we ask is that his suggestion that the Madeira Free Zone be extended to Porto Santo in order to attract international companies, provide development opportunities and create more jobs.
In his reply, the president of ALRAM stated that what Porto Santo needs in order to grow is a pool of well qualified and trained people. However, with regards to the extension of the Madeira Free Trade Zone to the island, the Regional Government has commissioned a feasibility study, which will conclude in September, with the aim of creating a low tax territory in Madeira, thus attracting foreign capital and companies to allow the economy to grow and create much needed employment.
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