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Ponta Delgada ,  April 11, 2014

Regional Government approves private investment projects amounting to over 37 million Euros

The Government of the Azores approved over 39 investment projects in the first semester of 2014 under the Incentive Scheme for the Regional Development of the Azores (SIDER), involving a private investment of 37 million Euros.

For the Vice-President of the Executive, this is "a significant increase in private investment, being an important reference in the context of regional economy."

"Azorean companies have shown, through their investment projects, an increased confidence in the future of regional economy," said Sérgio Ávila.

"The implementation of this investment will help creating an additional atmosphere of confidence and boosting business activity in the Region, with a positive impact on the creation of jobs and revitalisation of regional economic activities," added the government official.

The government official emphasised "the ability of entrepreneurs to carry out their investments in new business opportunities that have emerged in the Azores in the industry sector and the production of tradable goods as well as their capacity to create new opportunities and new investments in this atmosphere of confidence."
Sérgio Ávila stressed that "this situation has been made possible due the to the action of the Regional Government, with special emphasis on the support measures to private investment and the creation of jobs, which are substantially better than those provided at a national level."

For the Vice-President, the financial availability of the Regional Government to support companies in the area of investment and employment creation "has been determinant in turning the Azores into the region with the best conditions for the creation of new companies. Currently, the Azores register a considerable increase in private investment, which will have positive consequences in the future of economic activity in the Azores."

With regard to SIDER subsystems, three applications were approved under the Subsystem for Support to Strategic Development in the industry sector, energy production from renewable sources and health, totalling an investment over 30.4 million Euros that will create 19 jobs.

Under the Subsystem for Support to Tourism Development, 10 applications were approved, corresponding to an overall 1.9 million Euros and the creation 9 jobs.

A total of 23 projects were approved under the Subsystem for Support to Local Development will be developed in the areas of trade, catering and services, representing an estimated investment of 4.5 million Euros and the creation of 48 jobs.

 In turn, three projects were approved within the Subsystem for Support to Quality and Innovation, which correspond to an investment of 645 thousand Euros and the creation of 10 jobs.

To date, a total of 818 applications were approved under SIDER, representing an estimated 473.6 million Euros and the creation of 2,321 new jobs.


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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