José Manuel Bolieiro highlights impact of Azores' economic growth "for 41 consecutive months"
Ponta Delgada
Presidência do Governo Regional
On Friday, the President of the Regional Government, José Manuel Bolieiro, presided over the presentation ceremony of the "100 Largest Companies in the Azores - 2023" magazine, promoted by Açormedia, at Teatro Micaelense in Ponta Delgada.
The event, focused on the theme "Mobility and Transport," was also attended by the Regional Secretary for Parliamentary Affairs and Communities, Paulo Estevão, and the Regional Secretary for Tourism, Mobility and Infrastructures, Berta Cabral. It highlighted the dynamics of the regional business fabric.
The presentation included an overview of the ranking of the largest companies in the Azores, carried out by Informa D&B, and the delivery of several awards, such as "Largest Company in the Azores," "Manager of the Year" and "Azores Brand Product Award," among others. Companies from the Agriculture, Tourism and Trade sectors were also distinguished.
José Manuel Bolieiro congratulated the initiative promoted by the "Açoriano Oriental" newspaper, noting that it "lends prestige and dignity to Azorean companies." He also acknowledged the rigour and independence of the economic and business data analysis presented.
"Political governance for the social, economic, cultural and environmental development of the Azores relies, encourages and also depends on the structural governance of entrepreneurs and private companies," he noted.
The head of the Azorean Government took the opportunity to highlight the Region's most recent socioeconomic results.
Among the data presented, the record number of 120 thousand people employed in the Azores, the ongoing economic growth for more than 41 consecutive months and a 73% increase in corporate income tax revenue between 2021 and 2024 were highlighted.
José Manuel Bolieiro also mentioned the impact of tourism, which already accounts for 20% of regional Gross Value Added (GVA), 17% of Gross Product (GDP) and 17% of employment.
"Tourism does not replace our productive economy; on the contrary, it leverages it," he said.
The volume of agricultural exports, which totalled 458 million Euros in 2023, the highest figure in the last seven years, was another economic milestone highlighted by the President of the Government. He also stressed the reduction in the tax burden in the Azores, which left 190 million Euros in the private economy, surpassing initial estimates of 140 million Euros.
Considering the magazine's theme, José Manuel Bolieiro emphasised the Regional Government's measures regarding mobility, such as the implementation of the "Azores Fare," which has generated savings of 30 million Euros for families and companies, benefiting more than one million passengers.
Regarding the Social Mobility Aid, a responsibility of the National Government, José Manuel Bolieiro spoke out against the current model, calling for changes that favour passengers. However, he praised the recent reduction in travel prices from January 2024, which will cost 119 Euros to Mainland Portugal and 79 Euros to Madeira.
The President of the Government emphasised the improvement in the average payment period to suppliers by the Regional Government. In the third quarter of 2024, this period decreased by 12 days, making it 35 days shorter compared to 2020.
"With this ambition, the strategy outlined and the consistency of public policies and private entrepreneurship, we can all do more and better for the Azores," he concluded.
