![Express licenses and brave incentives in the new development law](https://www.ot.gr/wp-content/uploads/2021/05/adonis-scaled.jpg)
Aiming at specific sectors of the Greek economy and the ambition to put an end to the labyrinthine bureaucracy that kept investment plans in the drawers for years, the new development law was put to public consultation.
Development Minister Adonis Georgiadis said the new institutional framework is a great opportunity, expressing optimism about the impetus it can offer to the development process.
“All of this, combined with lower bureaucracy and higher levels of state aid, I believe will lead to a growth boom in the coming years,” he said, adding that “the government’s goal is to significantly reduce the approval time of investment plans to 60 days.” from 110 that is today “.
“A step towards strong growth”
Deputy Minister of Development Nikos Papathanasis spoke about one of the biggest steps of the government towards the strong development of the Greek economy and the change of the productive model of the country, emphasizing that it is one of the most important institutional tools that promote healthy entrepreneurship and competition. .
Significant incentives are provided by the new law on digital and technological transformation in the green transition, in the creation of economies of scale, in the support of innovative investments, in the enhancement of employment but also in the less favored areas of the country and areas included in the Fair Transition Plan.
The total amount of aid per investment project may not exceed the amount of 10 million euros, while it is provided that the aid provided to each investment project entity, including aid to cooperating or affiliated companies, may not exceed cumulatively EUR 20 million for individual companies and EUR 30 million for all cooperating or affiliated companies.
The evaluation of the investment plans will be done either by the committees established by a decision of the Minister of Development or by a certified auditor registered in the Register of Certified Auditors.
The progress of the projects will be monitored electronically, as will the information of those whose investment plans are rejected by the accession.
The companies that will be included will have to fulfill specific obligations after the implementation of the investment plan for three-five years, depending on the size of the company, obligations among which are the maintenance of jobs.
Forms of aid
The types of aid are: Tax exemption, which consists of the exemption from the payment of income tax on pre-tax profits, which arise, based on the relevant tax legislation, from all the activities of the company, deducting the tax of legal of a person or legal entity corresponding to the profits distributed or assumed by the partners.
Grant, which concerns the free provision by the State of a sum to cover part of the assisted costs of the project. Leasing subsidy for the acquisition of new mechanical and other equipment, which can not exceed seven years from the completion of the investment. Also, subsidizing the cost of employment created as well as financing business risk.
The maximum amounts of aid for each scheme will be determined by the Regional Aid map and will concern large enterprises, while they will be increased by 10% for medium-sized enterprises and by 20% for small and very small enterprises.
In fact, for investment projects with eligible costs over 50 million euros (large investment projects), the maximum amount of aid will be calculated up to 50 million euros, 100% of the maximum permitted regional aid in the area concerned, excluding the increased aid for Small and medium-sized enterprises, for the part of the expenditure that exceeds 50 million euros and up to 100 million euros, 50% is provided and over 100 million euros no aid percentage is provided.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country
![DESFA: Domestic Natural Gas Consumption Up 29.76% in 1st Half of 2024](https://www.ot.gr/wp-content/uploads/2022/08/desfa-1-600x370.jpg)
DESFA: Domestic Natural Gas Consumption Up 29.76% in 1st Half of 2024
However, overall demand for natural gas saw a slight decline of 7.14%, primarily due to reduced exports