The Regional Secretary for the Sea, Science and Technology stated in Ponta Delgada that "public investment in knowledge is essential to relaunch the economy," pointing out aquaculture as an activity "with high potential in the Region."

Fausto Brito e Abreu defended that the Government of the Azores aims to "create a bridge between research and business," adding that the Azorean Government is "investing in the production of knowledge by creating tools designed to encourage entrepreneurs to invest in the Region."

The Regional Secretary for the Sea spoke at the presentation of the results of LOCAQUA, a project develop with the aim of mapping areas with potential for aquaculture. This initiative was developed by the Research Centre in Biodiversity and Genetic Resources of the University of the Azores under a cooperation protocol between the Regional Secretariat for the Sea, Science and Technology and the Gaspar Frutuoso Foundation.

The project includes the mapping areas in the marine environment and, at a later stage, those located in terrestrial environment with the potential to install aquaculture units in the archipelago, taking into consideration the environmental, socio-economic and administrative conditions.

During his speech, Brito e Abreu said that "one of the strategic priorities of the Government has focused the on the development of new activities in the Sea Economy", such as aquaculture. The government official added that this study is "a decisive step" to create confidence and attract entrepreneurs to the Region.

"Investors who want to implement aquaculture systems in the Region will have free access to the mapping of areas with potential for this activity in the archipelago," said the government official.

In addition to this study, the Regional Secretary for the Sea also highlighted a package of incentives for the development of this activity in the Region, including a support scheme for Scientific Projects in Business Context that will become available by the end of the year. In this context, the government official also mentioned a series of tax benefits on a contractual basis that brings specific advantages in the case of aquaculture investment projects.

Brito e Abreu also stated that the Regional Government is reviewing the regional legal framework to assess whether licensing procedures for the installation of aquaculture equipment may become "quicker."

According to him, aquaculture has a "huge potential" to complement other areas of the regional economic activity, such as fisheries, pointing out the example that "the Region can use waste to produce food for aquaculture."
 
"Being as self-sufficient as possible is fundamental to an outermost region that is far from the major markets," the Regional Secretary said, defending that aquaculture can play a "key role" in the Azores to develop synergies that will create a "circular economy."

The "Better Fisheries, More Income" plan, presented by the Regional Government in April this year, stresses the potential of aquaculture as a solution for generating additional income to fishers and reorganising fishing assets.