Economy
The setting-up of the Free trade zone has led to the installation, under more favourable conditions, of infrastructure, production shops and essential services for small and medium-sized industrial enterprises. The Free Zone of Madeira, also called the Madeira International Business Centre, being a tax-privileged economic area, provides an incentive for companies, offering them financial and tax advantages via a whole range of activities exercised in the Industrial Free Zone, the Off-Shore Financial Centre, the International Shipping Register organisation, and the International Service Centre.
The services sector makes the largest contribution to the formation of the regional gross value added as opposed to the agricultural sector, for which the share has continuously declined in the regional economy.
Over the last few years, the regional economy has managed to open up and establish more internal and external competitiveness, so that its companies have become competitive internationally. The largest industries are by sector food, beverages (especially Madeira wine), and construction.
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