The Regional Secretary for Tourism and Transport emphasised on Terceira Island the importance of "Maritime Economy" to the Azores. He pointed out the investments the Government has made in several areas during this term, from the supply of vessels with alternative fuels to the enhancement of nautical tourism in order to take advantage of the archipelago's location and bring wealth to the Region.
 
Vítor Fraga spoke at the closing of the conference "The Azores and Maritime Economy," stressing that, over time, the Region has expanded the scope of its action in this field beyond fishing and maritime transport. In this regard, the government official pointed out, as example, coastal and cruise tourism, exploration of deep-sea mineral resources, energy use, aquaculture and marine biotechnology.
 
"These are the activities we are currently developing as they are important to the Region and its external projection," said the Regional Secretary. According to him, the Azores, due to their location and the size of their Exclusive Economic Zone and Continental Shelf, should not "neglect all components of the Maritime Economy."
 
In his speech, Victor Fraga highlighted the recent recommendation of the European Parliament's Environment Committee for the installation of a vessel Liquefied Natural Gas (LNG) in the archipelago, adding that it promotes "the geostrategic location of the Azores in the European LNG Supply Network and maximises the potential of Praia da Vitória port."
 
"The potential of Praia da Vitória Port does not end here," the Regional Secretary said, emphasising the importance of attracting private investment insofar as it will allow the Region to capture a share of the transatlantic market within the European project designated as "Motorways of the Sea." Moreover, the government official mentioned the need to ensure the access of private investment to European funds and secure its financial sustainability.
 
In regard to sustainability, Vítor Fraga emphasised that the Regional Government "has always taken the responsibility towards the preservation of its ecosystems," being indispensable to the development of a Nature Destination in which the component of nautical tourism is "one of the most important investments made by the Government." In fact, it has made significant investments in this component, either in the promotion of activities carried out in the archipelago or in the organisation of events to enhance the external promotion of the destination.
 
The Regional Secretary stressed the fact that the Azores have "excellent port infrastructures," not only for visitors but also for locals. In this regard, he stressed that the Government invested more than 185 million Euros in port improvements in the past eight years and there are works in progress amounting to 41 million Euros. These investments were carried out "under the Government's main goal to work for the improvement of the living conditions of all Azoreans."
 
Alluding to the importance of ports as "as gateways to the islands" that contribute to the revitalisation of the regional economy, Vítor Fraga said the investment in these infrastructures has rendered the Region more desirable for active tourism, as evidenced by the number of tourist entertainment companies that "increased to 130 over the past four years, i.e., a growth of 67%."
 
The Regional Secretary stressed that the main strategic focus of the Government regarding "Maritime Economy" involves three lines of action, namely knowledge based on scientific research, conservation of marine resources and their sustainable exploitation.
 
Vítor Fraga assured that the Region will continue working "to ensure the sustainability in the exploration of these resources," always ensuring "their good maintenance and protection." Hence, this will promote the image of the Azores as a vibrant region for the development of activities related to the "Sea Economy."
 
"We know this is one of the areas with the highest potential for job creation and economic growth not only in the Azores, but also throughout the country and Europe. Hence, we will continue to take our leading role in the development of this economy by all means possible," said he Regional Secretary.