Madeira is well positioned to become a centre of excellence in different areas of activities. The idea was presented by João Salgueiro, president of the Portuguese Association of Banks (APB) in his address on “the competitiveness of the Portuguese economy and the globalization” during the lunch-debate promoted by SDM.

According to this well-known Portuguese economist, in order to become a worldwide-recognized centre of excellence, Madeira must draw a strategy and establish high-level goals to reach a new stage of development. João Salgueiro also stressed that Madeira’s priorities should consider a strong investment in the services sector, through the use of the International Business Centre of Madeira as its main tool to achieve that strategic objective.

During his remarks, the former Minister of Finance focused his attention on the problems and possible solutions for the Portuguese economy, presenting some ideas to guide Portuguese public and private sectors in the globalization map.

In the opinion of João Salgueiro, China is a good example of an economy prepared to be competitive and outfitted with the necessary pragmatism and flexibility to face the global market. Having that in mind, the president of APB also said that Portugal must urgently undertake reforms to create a favourable environment to attract foreign investment.

This lunch-debate is part of an overall programme of conferences, conceived by S.D.M. to promote the discussion of various pertinent issues involving the future development of Madeira.

September 2005