The Government of the Azores has subsidised, through the Incentive Scheme for the Regional Development of the Azores (SIDER), a set of projects in a total amount 1.5 million Euros over last month.
SIDER has represents, since its entry in force, a total of 500 applications, which corresponds to a private investment of nearly 330 million Euros, of which 110 millions represent investments integrated in the subsystem to support Local Development.
For the Regional Secretary for the Economy, Vasco Cordeiro, these figures demonstrate the “effectiveness of the current incentive scheme in regional economy,” despite the national and international context. This effectiveness not only concerns investment itself, but also the associated factors, such as job creation.”
The action undertaken by the Regional Government, which has been adapting this system so that it mat better respond to the needs of businesspeople, has thus contributed to a better use of the available funds and a faster access to the support measures.
According to the Regional Secretary for the Economy, this flexibility has been a decisive factor for strengthening “the confidence of businesspeople in SIDER.”