Portuguese regional authorities launch economic development initiatives

In Madeira, Regional Secretary of Economy José Manuel Rodrigues announced the opening of applications for two incentive systems totaling over 30 million euros. The funds include 6.7 million euros for the Transport Incentive System, aimed at industrial export companies, and 24 million euros to support other operating costs. The initiative seeks to strengthen productive capacity and internationalization for Madeiran businesses to mitigate the challenges of insularity and rising fuel costs.

In Coimbra, the municipal investment, research, and innovation agency, Go Coimbra, has been officially introduced. Replacing iParque, the new agency aims to increase regional exports by 10 percent and create 750 qualified jobs by 2029. The agency will focus on sectors including health, biotechnology, aerospace, defense, and artificial intelligence, with the goal of reducing decision-making times for investors by 20 percent.