The Commission of Selection of the Subsystem of Support to the Local Development approved, in a meeting in Ponta Delgada, a new set of incentives that will allow the launch of projects of private investment in an amount of nearly seven million euros.

The new financing was approved as part of the System of Incentives for the Regional Development of the Azores (SIDER) that aims at supporting investments of value superior to 15 thousand euros endowed for the satisfaction of the home market, in the areas of commerce, industry, construction and some services, trying to contribute to the introduction of bigger levels of competitiveness in the enterprises of these sectors.

The SIDER supports businessmen in individual name, commercial societies, individual establishments of limited responsibility and cooperatives, being the management of the aids to the local development distributed with the Azores Chamber of Commerce and Industry, through its associates, contact person for processes with value of investment up to 200 thousand euros.

The investments of superior value are managed by the Regional Directorate for Support to the Investment and to the Competitiveness.

A new meeting of the Commission of Selection is scheduled for Thursday, being predicted the analysis of a ten of new candidatures.