Order No. 262/2021 approving the Regulation of the Incentive System for Companies «Promotion of Sustainable Bioeconomy».

This Order approves the Regulation of the System of Incentives for Companies dealing with «Promotion of the Sustainable Bioeconomy», arising from the PRR allocation, which affects the investment TC-C12-i01 Bioeconomy. The economic and social crisis caused by the COVID-19 disease pandemic led to the adoption of a set of exceptional measures by the European Union (EU) and its Member States. In order to quickly respond to the main needs related to the recovery of EU countries, the European Council defined an expressive financial package aimed at supporting Member States in overcoming the socio-economic effects of the pandemic and in implementing effective recovery and recovery policies. promoting the resilience of national economies in a logic of sustainability. This Regulation, consisting of 21 articles and one Annex, creates the incentive system for companies "Promotion of Sustainable Bioeconomy", and aims to accelerate the production of high added value products originating from biological resources as an alternative to fossil-based materials. The "Promotion of Sustainable Bioeconomy" business incentives system is financed by the PRR, in compliance with the rules defined in Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021, which creates the Recovery Mechanism and Resilience, in Regulation (EU) No. 651/2014 of the European Commission, and by the technical guidelines approved by the Mission Structure “Recover Portugal” (EMRP). The Incentive System for the Promotion of the Sustainable Bioeconomy applies to all economic activities that contribute to Integrated Projects in the following areas: a) Textile and clothing sector; b) Footwear sector; c) Natural resin.