How to attract investments to Madeira?
What are the strengths of the Autonomous Region of Madeira in attracting investment?
Madeira is a beautiful place to live. So, there are many people willing to live here. But to start a business on a far, far away island you need to handle three things: financial attraction-zona franca, infrastructural attraction: connectivity virtual and physical, rental objects, labor and stability (at least more stable than Africa, south America or Asia. Additionally, is that we are in the EU with the shared currency the Euro. This gives stability and attractiveness, as well that we have so many bidirectional agreements with the other EU countries.
What would it take to attract more investment to the Autonomous Region of Madeira?
To prolong zona franca as fast as possible until 2037, the Canary Islands already have that and offer an even lower tax rate. Additionally, they are much bigger and have even better traffic to the mainland. So, Madeira have to act customer friendly, means fulfill security and financial needs fast, show that Madeira is stable and foreseeable. Increase the offerings in office rental, increase quality of education (not quantity but quality), good labor will also give good reputation, reduce unnecessary bureaucratic hurdles, increase public digitalization, speed of everything and quality. The mix out of cost and quality in combination with plannability for at least 5 to 10 years will bring many companies to Madeira!