The Greek government recently announced significant interventions aimed at transforming the country’s production model. The key focus is on redesigning the investment incentives law to strengthen specific business sectors and streamline incentives, while also reallocating resources effectively.
The emphasis will now shift towards manufacturing and border regions, particularly in Thessaly post Storm Daniel. Timely completion of procedures for investment approval is a critical challenge. Development Minister Takis Theodorikakos highlighted the activation of the Governmental Committee for Industry to drive industrial growth.
Priority will be given to large, innovative investments utilizing modern technology with low energy consumption. Projects exceeding €10 million will benefit from tax exemptions, supported by a €150 million budget. Additionally, a €150 million fund is allocated for General Entrepreneurship in Border Regions and Thessaly for investments exceeding €1 million.
All large investments and those in border areas will be categorized as strategic, offering additional incentives for swift licensing and planning. To facilitate financing, a €300 million Guarantee Fund in partnership with the European Investment Bank will enable leverage of €1.5 billion. Another €150 million is earmarked for the “Processing” regime under the development law, split between subsidies and tax exemptions.