The Government of the Azores, through the Regional Secretary for the Economy, Vasco Cordeiro, approved on Wednesday another 18 private investment projects that had applied for the Incentive Scheme for the Regional Development of the Azores, mobilising a global investment of about 8 million Euros.
The recently approved projects are integrated in the subsystem that provides the support measures for Local Development and comprise the areas of Trade, Industry and Services. With regard to the islands where these projects will be developed, the respective promoting entities plan to implement them on the islands of Flores, Terceira, Faial, São Miguel, Pico, Graciosa and São Jorge.
SIDER has come into effect in 2008 and will remain in force until 2013.
So far, over 600 applications have been submitted, which correspond to a global investment of about 400 million Euros.