The Vice-President of the Government stated in Angra do Heroísmo on Saturday night that the Region's productive structure faces "eight key challenges" in the current European framework.

Sérgio Ávila spoke at the closing session of the conference "Azores - Preparing the Future," an event organised by Angra do Heroísmo Chamber of Commerce. The government official stressed that the options taken by Brussels under the monetary policy are responsible for the European recession, which is being felt harder in smaller countries such as Portugal.
The need to increase "added value" in the production sector is the first challenge the Region faces in order to allow "each company to boost their value."

Meanwhile, Sérgio Ávila underlined the importance of "qualifying the Region's productions structure" with the aim of maximising the use of "better qualified human resources" that already exist.

The "serious, rigorous and transparent management of expectations" was another challenge mentioned by the Vice-President, who highlighted the importance of "greater confidence and hope" in any recovery process "always based on rigour and truth."

The need to "change the paradigm of the regional production structure" was another aspect highlighted by Sergio Ávila. The government official emphasised that growth cannot be expected from domestic demand, but with an increase in exports.

In this context, the Vice-President encouraged Azorean entrepreneurs to actively seek new markets.

In order to support these premises, Sérgio Ávila pointed out 11 axes he deemed necessary for the near future of regional economy; the first of which involves "a new incentive scheme to support companies in external competitiveness."

The Vice-President also stressed the importance of effectively developing "a policy of export promotion" with incentives and lines of credit to support exports, among other aspects.

The introduction of venture capital and financial restructuring funds in companies with strong export potential was another measure announced by the Vice-President in addition to the channelling of support to innovation and "true entrepreneurship."

The creation of incentives for companies to employ more skilled workers, urban renewal, "considered as a strategic goal," and the support to business consultancy are some of the 11 axes pointed out by Sérgio Ávila.