The Legislative Assembly of the Azores approved today the regional decree proposal, submitted by the Government, establishing the Society for Business Development of the Azores (SDEA, EPE).

During the presentation of the proposal, the Vice-President of the Government revealed that the newly created body is endowed with "several powers in the creation and implementation of policies designed to reinforce the competitiveness of companies as well as to promote innovation and entrepreneurship.”

This initiative is part of the Azorean Agenda for Employment Creation and Competitiveness and it "meets a new regional development strategy," added Sérgio Ávila.

In addition to this major goal, the Regional Government also intends to award high priority status to job creation and promotion of economic activities, mainly by stimulating the export sector, fostering innovation, promoting new financial support tools for companies and adequately monitoring companies throughout their lifecycle.

The Vice-President of the Government highlighted, among the wide range of powers assigned to the Society for Business Development of the Azores, the promotion of measures to reduce costs of context with the aim of simplifying the investment processes. Furthermore, the government official also mentioned the creation of financial incentive schemes for the investment and operation of companies and the creation of sectoral policy measures to stimulate employment and vocational training.

SDEA will also be in charge of promoting exports, fostering the internationalisation of economy and attracting foreign investment. In this context, a Strategic Council will also be created, being an advisory body of the Azorean Government.

Sérgio Ávila stressed that the Council "will decide on the society's global strategy and present proposals that contribute to strengthening the competitiveness of regional economy.

During the parliamentary debate, the Vice-President also drew attention to the fact that the approved decree dissolves the Agency for the Promotion of Investment in the Azores (APIA) and, therefore, SDEA is not its replacement; it is rather a new entity with different missions and goals.

Sérgio Ávila stressed that neither the number of workers nor the costs will increase as the SDEA is "an entity integrated in the regional public administration, thus its workers are already part of it."

 Regarding the number of direct and indirect public administration workers in the Region, the Vice-President mentioned the data from the National Government, which reveal a decrease of two percent, corresponding to a reduction of 305 workers.