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Horta ,  September 16, 2015

Aquaculture and Marine Biotechnology projects developed in the Azores with easier access to tax benefits

The Regional Secretary for the Sea, Science and Technology stated in Horta that the Government of the Azores aims to "reduce the minimum investment amount required to 200 thousand Euros" so that the projects developed by production units in the fields of Marine Biotechnology and Aquaculture can receive "tax benefits on a contractual basis."

Fausto Brito e Abreu spoke at the Legislative Assembly during the discussion of a proposal to amend the Regional Legislative Decree approving the Region's budget for 2015, an initiative that was approved by majority.

The Regional Secretary for the Sea recalled that "the Regional Government has already carried out the amendments to the Regional Implementing Decree defining the tax benefit scheme in order to promote projects developed in these two fields of maritime economy."

According to Brito e Abreu, this amendment allowed "the increase of 30% in the support for Marine Biotechnology and Aquaculture projects that provide for the creation of at least three jobs." The support can up to 40% if the jobs are highly qualified, that is, jobs with a doctoral degree.

"One of the goals of the Government's Programme is to turn the Sea into a driving force of economic growth and job creation in the Region," the Regional Secretary said, adding that the investment in the development of emerging economic activities, such as Aquaculture and Marine Biotechnology, are "a priority" for the Government.

In this context, Brito e Abreu pointed out, among other initiatives, the mapping of areas with potential for aquaculture in the archipelago, which will be provided free of charge to entrepreneurs and investors this year. The government official also mentioned that the Regional Government considers that public investment in knowledge is "fundamental" to stimulate the regional economy.

The Regional Secretary also defended that Aquaculture and Marine Biotechnology "have great potential to complement other economic activities of the Region," particularly in fishing and canneries. Moreover, he highlighted the importance of "developing synergies between industries that will result in a circular economy."

The government official pointed out, as example, the waste from the canning industry, "which can be used in pharmaceutical products, nutritional supplements, cosmetics or feed for aquaculture production. The latter can also be used to produce live bait for tuna fishing, which supplies canning plants, thus closing the economic cycle. "


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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