PRR Finances Incentive System for Business Modernization

PRR Finances Incentive System for Business Modernization

The government has created an incentive system, funded by the Recovery and Resilience (PRR) scheme, to promote and financially support projects to modernize the companies’ business model and production processes, according to a published decree.

The Business Incentive System 4.0 regulation creates support from the recovery and resilience plan customization Affects “Digital Transformation of Companies” and “Stimulating the Digital Transformation of Corporate Investments”Support projects for the physicalization of workflows, mitigating skills deficits in the use of digital technologies, integrating remote work tools and methodologies, and creating new digital channels for marketing products and services.

In the preamble to the decree, the former Minister of Economy, Pedro Sisa Vieira, explained that this regulation is part of Component 16 – Enterprise 4.0, Embedded in the “Dimension of Digital Transformation”which aims to promote the digitization of companies “in order to catch up with the ongoing digital transformation” and subsequently implement the Action Plan for Digital Transformation (PATD).

These actions, adds the former governor, contribute to digitizing the economyeither through technological adoption by economic actors and through the digitization of their business models, or through awareness and empowerment of workers and entrepreneurs.

In this context, the government highlighted that the new regulation includes, as areas of intervention, and research and development (R&D), Including demonstrating and promoting business research and development, commercial innovation and competitiveness, internationalization, qualification of Small and Medium Enterprises (SMEs), entrepreneurship, vocational training and job creation in SMEs.

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