New incentive scheme comprises support to companies for the next seven years, says Sérgio Ávila
The Vice-President of the Government of the Azores underlined the importance of the new incentive schemes in the context of "support policies to companies for the next seven years."
Speaking to journalists in Ponta Delgada at the end of a hearing at the Committee on Economic Affairs of the Legislative Assembly on the new incentive scheme COMPETIR+, Sérgio Ávila explained some of the main changes that this new system aims to introduce in the policies currently in force.
"Firstly, we will now focus on the support to companies throughout their life cycle instead of limiting the support to the investment phase, i.e., we will support not only the investments made by companies, but also all components and costs," said the Vice-President.
According to Sérgio Ávila, the aim is to boost the companies' "capacity to sell their goods and services outside the production site" as well as to contribute to the "development of innovation, technological development and the improvement of competitive conditions."
The Vice-President of the Government stated that COMPETIR+ comprises seven sub-systems that cover, in addition to the aforementioned areas, "the development of urban renewal and the establishment of financial support that may be reimbursed by Community funds."
In this regard, Sérgio Ávila emphasised the fact that this scheme "not only supports the efforts of companies in terms of investment, but also in terms of human resources and the jobs they create."
As the government official pointed out, the support will not be allocated in accordance with the volume of investment, but in accordance with the results of the investment; the latter is measured by the number of jobs created by a company or its impact on the generation of wealth in economy.
Furthermore, this measure "comprises another key aspect: companies will now be agents of economic development as well as local authorities and all agents that wish to participate in this incentive scheme; we will also encourage partnerships between companies for the development of projects," said Sérgio Ávila.
The goal is to assure that "the growth of economic activity will be supported by all economic agents," stated the Vice-President of the Government.