During the first half of March, S.D.M. carried out its first promotional activity in Eastern Europe, namely in Poland, in order to divulge and present the comparative advantages of the International Business Centre of Madeira (IBC). Several one-to-one meetings were held with bank entities and international consulting companies, such as Ernst &Young, KPMG, Pricewaterhousecoopers and Deloitte. During the mission, S.D.M. held other meetings with the local chamber of commerce and representatives of ICEP – Portugal’s Trade Office in the country.
Poland is a new market as far as targeted promotional efforts are concerned, but one where S.D.M. expects to find a very strong interest in the IBC of Madeira. As it is well known, Poland is a very competitive economy, which has effectively undertaken a fast transition to a market economy. Moreover, in comparison with the neighbouring countries, it has witnessed a constant growth of its Foreign Direct Investment, surpassed only by countries such as Russia, Hungary and Czech Republic.
The entrepreneurial relationship already existing with Portuguese companies that have invested in Poland, such as Millennium Bank and Jerónimo Martins Group, and the existence of a Treaty to Avoid Double Taxation between Portugal and Poland (also applicable to Madeira), are two important aspects that certainly contribute to the potential interest of polish investors in the solutions available, through the IBC of Madeira, for the development of their international activities.
In addition to the contacts related to the tax-planning field, S.D.M.
also held a number of meetings with relevant Polish shipowners, in ports such as Szczecin and Gdynia.