The new "Loja Açores" (Azores shop) in Lisbon opened today. Following a public tender, the Regional Government has granted its operation to a private company - Fábrica de Licores Eduardo Ferreira & Filhos.

During the opening ceremony, the Regional Director for Support to the Investment and Competitiveness (DRAIC) expressed his confidence in the success of the new shop, not only for its location on Rua Viriato, but also for the company's "credibility, strength, experience and knowledge of the Azorean market and Azorean products.”

On the occasion, Ricardo Medeiros emphasised the effort developed by the Azorean Government to stimulate the competitiveness of Azorean companies. In this context, the government official pointed out the reduction of the Excise Duty on Consumption, applicable to liqueurs and spirits produced and consumed in the Azores, to only 25 percent tax, and gave special emphasis to the development of the Azores Brand.

For the Regional Director, the Azores brand is "one of the key pillars in the internal and external promotion of the Region." This brand "is synonymous with quality" and distinguishes the products that "embody the most distinctive features of the Azores."

The promotion of regional production, also developed through an annual plan of fairs, is one of the strategies pursued by the Regional Government. According to Ricardo Medeiros, it has yielded significant results insofar as "it has strengthened the presence of Azorean products" in the markets where Azorean companies already operate, also allowing access to new markets.

"The Incentive Subsystem for Internationalisation is at the final stage of approval," Ricardo Medeiros stressed, revealing that "support granted this year under the current Support System for the Promotion of Azorean Products have already exceeded 1.7 million Euros."

In addition to these support measures, covering about a hundred regional companies, the Programme to Support Restaurants and Hotels in the Purchase of Regional Products has been widely accepted by the sector. This programme reimburses 10 percent of the expenses incurred by companies in the acquisition of Azorean products.

Ricardo Medeiros revealed that 452 applications have been submitted, representing an investment nearly 500 thousand Euros, that is, the use of genuine Azorean products by restaurants and hotels reaches around five million Euros.

In his speech at the ceremony, the Regional Director for Support to the Investment and Competitiveness stated "the Regional Government will remain committed to create an environment of business efficiency by providing a wide range of tools that will boost the competitiveness of regional companies and stimulate sustainable development in the medium and long term.