The Government of the Azores, through the System of Incentives for the Regional Development of the Azores (SIDER), has approved this week a set of incentives for nine projects that will enable the implementation of private investment projects in a global amount of three million Euros on several islands under the support to Local Development.
The recently approved investment projects concern applications from companies based on the islands of São Miguel, Terceira and Faial in the areas of trade, industry and services, representing the creation of 26 new jobs.
The System of Incentives for the Regional Development of the Azores represents a total of 500 applications, involving a private investment of nearly 330 million Euros, of which 110 million are integrated in the subsystem of incentives to support Local Development.
For the Regional Secretary for the Economy, Vasco Cordeiro, these figures reveal the “attractiveness of the current system of incentives for Azorean companies,” despite the national and international context.
The “continuous action” taken by the Government of the Azores in the matters related to the incentive schemes to enable a better use as well as quick access to these type of support has been a decisive factor in the strengthening “of the confidence that business people have placed in SIDER,” stated the Regional Secretary for the Economy.