The Autonomous Region of the Azores has registered until now intentions of investment representing about 270 million Euros related to 350 applications for the Regional incentive systems. From this total, “almost three hundred applications have already been analysed, which corresponds to an investment of more than 200 million Euros,” explained the Regional Secretariat for the Economy today.

Vasco Cordeiro spoke to the journalists at the end of a meeting of the Incentives Regional Council, stressing the work that has been developed by the Azorean Government with the purpose of “providing a faster response to the applications for the incentive schemes.” Hence, as he stated, “the Government has fulfilled the commitment of analysing until March 31, in the cases within its jurisdiction, all the applications submitted until December 2008.”

According to Vasco Cordeiro, “rapidness is fundamental, so the Government of the Azores has been working to analyse the applications in a maximum deadline of 3 months after their submission. (…) The Azorean Government has always acted bearing in mind that the response to the businesspeople is fundamental. So, simplification mechanisms have been introduced to enable a faster analysis of the applications.”

In addition, the Regional Secretary for the Economy explained that “the certification process of the services of the Regional Directorate for Support to the Investment and to the Competitiveness will be implemented soon, thereby promoting a greater improvement and a better adaptation of rules in force.”