"Confidence, work and innovation" are pillars of regional economic growth, says José Manuel Bolieiro - Communication

Presidência do Governo Regional

The President of the Regional Government, José Manuel Bolieiro, chaired today the opening of the new Pingo Doce shop in São Gonçalo, Ponta Delgada, an investment made by the Jerónimo Martins Group in partnership with the Finançor Group.

The Mayor of Ponta Delgada, Pedro do Nascimento Cabral, the Chairman of the Jerónimo Martins Group, Pedro Soares dos Santos, and the CEO of the Finançor Group, Romão Braz, also attended the ceremony.

The President of the Government highlighted the strategic role of the Finançor Group, which is celebrating its 70th anniversary, in the projection and economic development of the Azores. He took the opportunity to emphasise the importance of a solid value chain, covering production, processing and distribution, based on research and development capacity.

"This investment represents an opportunity for success, with enormous potential for the Azorean economy," he said.

The head of the Azorean Government stressed his vision of an Azorean economy that is ‘thriving and free from dependence on public aid.’ In this regard, he recalled that, under his leadership, the Regional Government has implemented a tax differential that has reduced VAT, Personal Income Tax and Corporate Income Tax rates by up to 30% compared to the national territory, creating favourable conditions for economic growth and attracting investment.

"We pay less taxes in the Azores. We stimulate the economy and encourage entrepreneurship," highlighted José Manuel Bolieiro.

Pointing out the positive economic indicators, the President of the Government noted that the Azores are registering more than 40 consecutive months of growth in economic activity and private consumption. In addition, the number of people employed exceeded 120 thousand for the first time, a record for the Region.

"The economy develops with work and a working population. It is through the dignity of labour that private entrepreneurs are essential to guaranteeing wealth generation throughout the value chain," he said.

José Manuel Bolieiro also took the opportunity to praise the Azores Brand-certified products, highlighting the quality and authenticity that symbolise regional identity. There are 6,300 products, services, and establishments bearing the Azores Brand seal from 297 Azorean companies.

"Our goal is to combine excellence with our identity,’ he concluded, emphasising that “confidence, commitment and boldness are pillars of the Region's collective future.”