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The International Business Center of Madeira (IBCM) or Madeira International Business Centre (MIBC), formally known as the Madeira Free Trade Zone, is a set of tax benefits authorised by Decree-Law 500/80 in 1980, legislated [1] [2] in 1986, and amended throughout the years by the Portuguese government to favor the Autonomous Region of Madeira.
Rank Region GDP in euros € % of GDP GDP per capita In euros € As % of Portugal average 1 Greater Lisbon: 84,363,398,000 31.6% 39,942 158.0% 2
Electricity on Madeira is provided solely through EEM (Empresa de Electricidade da Madeira, SA, which holds a monopoly for the provision of electrical supply on the autonomous region) and consists largely of fossil fuels, but with a significant supply of seasonal hydroelectricity from the levada system, wind power and a small amount of solar.
Quinta Vigia serves as the seat of the Presidency of the Government of the Autonomous Region of Madeira. In the historic centre of Funchal, next to the Cathedral, stands the Building of the Regional Government of Madeira. This property was erected in the 17th century to house the Santa Casa da Misericórdia do Funchal and its hospital, having ...
Some areas, such as the Azores, Madeira and Macau, were deemed either impractical to decolonise or too close in ties to Continental Portugal to make independent. However, due to their distinct geography, economy, social and cultural situation, as well as historical aspirations of autonomy in Madeira and the Azores, the autonomous regions were ...
Funchal Baptist Church was established in Madeira in 1976. It is located at Rua Silvestre Quintino de Freitas, and provides English services in the morning and Portuguese in the evening. The Church of Jesus Christ of Latter-day Saints was established on Madeira in 1983.
São João da Madeira's motto, translated as "Labor, City of Work", appeals to its industrial history. In 2007, there were 3660 companies in São João da Madeira: despite being the smallest municipality in size in Portugal, it is the twentieth in economic turnover.
The President of the Regional Government of Madeira is the head of the devolved government of the Madeira archipelago, since the Carnation Revolution that established the current democratic regime in Portugal and granted political autonomy to the Portuguese islands.