Government creates incentive system to modernise companies

  • Lusa
  • 4 April 2022

The government has created an incentive system to promote and financially support projects to modernise the business model of companies and their production processes.

Portugal’s government has created an incentive system, funded by the Recovery and Resilience Plan (RRP), to promote and financially support projects to modernise the business model of companies and their production processes, according to a decree published on Monday.

The Regulation of the ‘Enterprises 4.0’ Incentive System creates support from the RRP allocation for investments in ‘Digital Transition of Enterprises’ and ‘Catalysing the Digital Transition of Enterprises’, supporting projects for the dematerialisation of workflows, mitigation of skills deficits in the use of digital technologies, incorporation of telework tools and methodologies or the creation of new digital channels for the commercialisation of products and services.

In the preamble of the ordinance, the former minister of economy, Siza Vieira, explained that this regulation is part of Component 16 – ‘Companies 4.0’, integrated into the ‘Digital Transition Dimension’, which aims to reinforce the digitalisation of companies “to catch up with the ongoing digital transition process”, as part of the Action Plan for Digital Transition (PATD).

These measures, the former minister said, contribute to the digitalisation of the economy, either through technological adoption by economic operators and the digitalisation of their business models or through awareness and training of workers and entrepreneurs.

In this context, the government highlighted that the new regulation covers research and development (R&D), including the demonstration and valorisation of business R&D, innovation and business competitiveness, internationalisation, qualification of Small and Medium Enterprises (SMEs) entrepreneurship, vocational training and job creation in SMEs.