Madeira Government Launches Incentives for Cargo Transport Between Islands
Madeira GuideThe Madeira government has announced new incentives aimed at reducing transportation costs for goods between Madeira and Porto Santo, a move expected to benefit local industries and consumers.
In a bid to alleviate the economic impact of the energy crisis and rising fuel prices, the Madeira Regional Government has introduced a new incentive program to support the transportation of goods between Madeira and Porto Santo. This initiative, primarily targeting manufacturing industries, aims to stabilize product costs on Porto Santo by ensuring they do not exceed those on Madeira.
The announcement was made by José Manuel Rodrigues, the Regional Secretary for Economy, during his visit to the Expo Porto Santo 2026. This event, organized by the Association of Industry, Commerce, and Tourism of Porto Santo (AICTPS), is being held at the Pavilhão Multiusos on the island, running from July 17 to July 26.
Rodrigues emphasized that the program is part of a broader economic support plan for Porto Santo, which is currently experiencing significant growth in tourism, industry, and commerce. He highlighted the importance of microenterprises, which constitute 98% of Porto Santo's business fabric, in justifying specific incentive systems.
Among the measures, the government plans to introduce financial support for microenterprises, covering up to 60% of investments that can reach up to 300,000 euros. Additionally, a reduced corporate tax rate of 8.75% will be maintained for Porto Santo, compared to 13.3% elsewhere.
The initiative is expected to have a positive impact on local consumers by mitigating the price differences caused by current market conditions, ensuring that goods remain affordable for the residents of Porto Santo.
Sources
Madeira Guide
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