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Vila do Porto ,  December 12, 2018

Government approves support for private investment amounting to 20 million Euros in just one week

The Regional Director for Support to the Investment and Competitiveness highlighted on Santa Maria the approval of another 20 projects presented under the scope of Competir+ and approved by the Azores Operational Programme (PO Açores 2020). The overall investment amounts to nearly 20 million Euros and provides for the creation of nearly 100 new jobs on several islands.
"These are another 20 investment projects approved in just one week, representing almost 20 million Euros. They benefit from the support allocated under the Incentive System for Business Competitiveness that will reach 10 million Euros," said Ricardo Medeiros. He spoke on the sidelines of a visit to several projects already implemented or under implementation in the Region.
According to the Regional Director, "about 50% of the investment is related to projects presented under the Competir + subsystem for the Promotion of Exports."
Regarding private investments on Santa Maria, the government official pointed out that the Regional Government has already supported projects amounting to more than five million Euros, considering that it demonstrates "the Government's commitment to channelling more funds for private investment every year."
Ricardo Medeiros also mentioned that the new incentive measures announced by the Regional Government are intended to promote innovation, the competitiveness of Azorean companies and the emergence of new companies in the area of Information and Communication Technologies, which will be implemented next year.
"We are experiencing an important moment of affirmation of the Azorean economy. We are aware that entrepreneurs are confident, but we can go further, and, for that reason, we will speed up the digital transformation of our companies," said the government official.
The new measures include the increase of the non-reimbursable incentive under Competir+ to reward companies promoting the introduction of so-called industry, the "Startup Azores Challenges" programme to enable new technological companies to provide support to regional companies consolidated in the market, or the "Export Azores" measure. The latter is designed to encourage marketing projects for products and services developed by regional companies.
Regarding the labour market, the government official highlighted MOVEMPREGO, an initiative intended to "stimulate the internal mobility of human resources, territorial cohesion and the increased competitiveness of companies on all islands.


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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