Due to increasing demand, the Administration of Ports of Madeira (APRAM) will study the construction of a marina for large yachts, the Regional Secretary for the Economy announced today.
“Next year APRAM will carry out studies to decide on the possible construction of a marina for megayachts, a market segment that is increasingly looking for Madeira, and which has high economic growth potential,” said JosĂ© Manuel Rodrigues.
The Secretary of Economy was speaking in the Madeiran parliament, in the discussion of the proposals for the Regional Budget for 2026, worth 2.329 billion euros, and the Investment Plan, worth 1.002 million.
The minister pointed out that the budget of the Regional Secretariat for the Economy of Madeira, of 128 million euros, “cuts operating expenses to strengthen support for innovation, competitiveness and sustainability of companies, to attract more capital and companies to the region and to ensure investment in vital sectors, such as ports.”
Investments are around 70 million euros, and are split between Regional funds and European funds. This means that more than half of the Economy budget will be spent on job creation and wealth.
JosĂ© Manuel Rodrigues, from the CDS-PP, said that while the region’s economy is growing, it’s still not enough to satisfy the governing party, which is ambitious and eager to do more so the island’s economic success reaches everyone and represents true social development.
The budget it oversees intends, among other objectives, to continue the trajectory of economic growth, increase the diversification of the productive base, strengthen the attraction of foreign investment and ensure the technological modernisation of the business fabric.
It also aims to ensure the energy transition of the economy, reduce taxes, without jeopardising the balance of public accounts, value wages without affecting the competitiveness of companies, correct social inequalities and improve the living conditions of all Madeirans, underlined the Secretary of Economy.
Another issue mentioned by the minister, and which was also addressed by several opposition parties, concerns the commercial port of Caniçal, in the municipality of Machico, recognising that there was “an almost rupture in supply” as a result of Madeira’s economic growth.
The supply is now normalised, he assured, but it will be necessary to carry out a study on Madeira’s future needs in terms of ports.
José Manuel Rodrigues also assured that the Madeiran government does not give up demanding from the State a passenger ferry connection between Madeira and the mainland.
In addition, he criticised the budget presented by the European Commission for the next community framework, arguing that “it is unacceptable and highly harmful” to the interests of the region.
In the debate, the deputy of the JPP (the largest opposition party) LuĂs Martins pointed out that the Madeiran government has highlighted economic growth and the increase in the Gross Domestic Product (GDP) and asked, “When will the much-vaunted economic success reach the pockets of most Madeirans?”
For the PS, Gonçalo Leite Velho considered that the growth of the economy is not the result of the work of the island executive, but “of Madeiran workers and entrepreneurs.”
He also stressed that economic growth “is not reaching the pockets of Madeirans” and that GDP grew 40% in five years, while wages increased 2%.
In the same vein, Chega deputy Hugo Nunes questioned the governor about how “can the economy grow continuously if it does not improve and support those who work here?”
Samantha Gannon
info at madeira-weekly.com
For the PS, Gonçalo Leite Velho considered that the growth of the economy is not the result of the work of the island executive, but “of Madeiran workers and entrepreneurs”.
He also stressed that economic growth “is not reaching the pockets of Madeirans” and that GDP grew 40% in five years, while wages increased 2%.
In the same vein, Chega deputy Hugo Nunes questioned the governor about how “the economy grows continuously and does not improve the income of those who work”.
