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Penafiel ,  December 14, 2018

Azores presented themselves as region of opportunities at the 3rd Meeting of Investors of the Diaspora

As part of the strategy to attract foreign investment implemented by the Regional Government, the Azores participate in the 3rd Meeting of Investors of the Diaspora to be held until Saturday in Penafiel, where they presented themselves as "a land of business opportunities" to investors from more than 30 countries.
"This meeting allowed us to reiterate the Region as a land of opportunity," said the President of the Administration Board of SDEA - Society for Business Development of the Azores, who highlighted the favourable investment conditions in the archipelago.
Speaking on one of the panels promoted during this meeting, Vítor Fraga highlighted the "high political, economic and social stability" of the Azores, generating confidence among investors.
This meeting also allowed Vítor Fraga to disseminate the "most business-friendly ecosystem" created by the Regional Government, namely through the "most comprehensive and attractive incentive system within the European Union."
The President of the SDEA pointed out that the projects included in the Subsystem for the Promotion of Exports may benefit from support up to 65% of the investment in the form of non-repayable aid as well as from significant support in job creation.
"We also present ourselves as the part of the national territory with the lowest tax burden with its own system of fiscal benefits," the government official said, adding that these meetings have demonstrated that the Azores benefit from a "close proximity to decision-making centres."
Vítor Fraga emphasised the geographical location of the Azores in terms of their time zone, which allows "the conduction of business activities during working hours, both in North America and in Europe."
"We have global competitiveness and now it is possible to reach the main European capitals and American cities on the same day," said the President of SDEA.
In addition to the strong commitment to innovation, through incentive measures implemented by the Regional Government, Vítor Fraga pointed out to potential investors the "natural resources of the archipelago, both in terms of its endogenous products and in terms of landscape heritage."
"We cannot forget the Exclusive Economic Zone (EEZ), which represents 55% of the national territory and 15% of the European" territory. Under the expansion of the continental shelf, the Azores confer a wider dimension to Portugal, allowing the extension of its EEZ to four million km2, that is, 40 times the size of Mainland Portugal," the government official.
The participation of the Region in another meeting of Diaspora investors also distinguishes "the noteworthy historical and cultural heritage of the Azores, their unique hospitality that combines modernity with authenticity." In this regard, he also mentioned the "high standards of quality of life based on the fact that we are one of the world's safest regions with quality health and education systems, and with environmentally sustainable principles."
Regarding the importance of the Region's presence in this initiative, Vítor Fraga revealed that "13 of the 17 projects or investment intentions submitted by Diaspora investors since 2013, representing an overall investment of 40 million Euros and the expected creation of 170 jobs, have emerged following last year's meeting in Viana do Castelo and the interim meeting held in Praia da Vitória in July.
According to him, six are already under implementation while seven are investment intentions that are being closely followed, corresponding to a private investment of 35.5 million Euros and the expected creation of 130 new jobs.
According to Vítor Fraga, 77 percent of the Diaspora projects have emerged after the participation and involvement of the Regional Government, through SDEA, at the two previous meetings of Diaspora investors.


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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