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Madalena ,  April 03, 2012

Vasco Cordeiro ensures financial capacity of incentives schemes to support regional businesspeople

The Regional Secretary for the Economy assured on Monday that the regional incentive schemes have no funding problem. "We have the assurance that there is no lack of money in incentive schemes. As long as there are projects, funds are available," Vasco Cordeiro assured during an information session on the Incentive Scheme for the Regional Development of the Azores (SIDER) addressed at businesspeople from Pico.

The government official also revealed to the one hundred businesspeople attending the session that the amendments to SIDER have entered into force.

With these changes, the Azorean Government "will be able to carry on with the process to simplify and speed up procedures." Currently, "applications are analysed in an average period between 2 to 2.5 months and payment period takes place after 1 and 1.5 months" upon approval. "We are committed to this effort," said the government official.

Among the changes introduced, the Regional Secretary for the Economy emphasised "a very important change regarding commercial urban planning as well as the areas of Quality and Innovation and Degraded Housing. This measure allows the possibility of allocating support for commercial or industrial purposes as long as some requirements are met."

Moreover, Vasco Cordeiro highlighted the "subsidisation increasing rates for the islands of Pico and Faial." "More than 70 applications were submitted under SIDER on the island of Pico, representing a total investment over 30 million Euros."


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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