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Ponta Delgada ,  December 05, 2016

Private investment implemented by Azorean companies doubled this year

The Vice-President of the Government revealed today in Ponta Delgada that the "private investment implemented by Azorean companies under Competir+ incentive schemes until the end of October this year doubled over the same period" of 2015, revealing confidence in the regional economy.
"Under the new incentives for business activity systems, I can also say that 400 new projects representing an investment of 170 million Euros have already been submitted," said Sérgio Ávila at the opening ceremony of INSCO's new Logistics Centre.
"The word that defines this investment is undoubtedly the word trust," he said, adding that it is sustained by growth in consumption; the latter is the result of "the increase in household disposable income" and "floating population" due to tourism.
Sérgio Ávila also stressed that this is also the result of a "series of positive economic indicators and macro economic factors that already show a "sustainable recovery" to be consolidated in coming years.
In this regard, the Vice-President highlighted some of the measures under the economic and employment recovery strategies defined by the Azorean Government.
The first concerns the creation of "innovative" public financing tools for companies in partnership with credit institutions.
The measure will be implemented through lines of credit with mutual guarantee, a venture capital fund or participation in financing operations in reversible capital.
As for other measures, the government official also pointed out the implementation of the Network of Business Incubators in the Azores, already with Community approval, and the subsequent creation of the designated "Incubation Valleys" that will allow new companies to access qualified professional services and expert advice.
Moreover, Sérgio Ávila stressed the importance of job creation, also recalling the results already achieved with programmes such as INTEGRA and the Professional Integration Programme of Trainees (PIIE); both have contributed to the creation of 4,350 new jobs.
In order to promote the hiring of workers through contacts of indefinite duration, the Regional Government will implement a new programme, designated as INTEGRA ESTÁVEL, thus "intensifying the support to companies."
Sérgio Ávila also mentioned the protocol signed with INSCO, which already sells hundreds of products bearing the "Azores Brand" identity seal. 
Considering that the Region's investment in differentiation and consequent promotion of regional products is to be consolidated and extended to large commercial establishments in the national market, the Vice-President praised the role of SONAE - a member of Grupo Bensaude in INSCO - as a strategic partner in this path.


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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