Over €3bln Injected in Greek Economy – PM Speaks at Event

Prime Minister Kyriakos Mitsotakis and Development Minister Takis Theodorikakos presented key priorities and a series of measures aimed at mobilizing significant investment funds over the next three years to drive the productive transformation of the Greek economy.

During an event on Monday evening, the PM said that developing financial tools and incentives for milestone strategic and large investments by injecting over 3 billion euros into the market over the next three years was a top priority.

Mitsotakis added that Greece was a model in the EU due to “the recovery of our economy”, which he called “definitive and irreversible”.

The goal of the country’s economic transformation plan is to:

• Improve the business environment by reducing bureaucracy and improving infrastructure.
• Develop financial tools and incentives for investments, particularly large investments and those in disadvantaged regions.
• Provide incentives for increased innovation and research.

On his part, Development Minister Takis Theodorikakos pointed out that the productive transformation of the Greek economy would leverage the unique advantages of regions in Greece, thus contributing to a balanced development across the country.

The plan includes reducing administrative burdens on export businesses by at least 25% within two years by eliminating 15 red tape. It also features a logistics project aimed at upgrading Greece’s position in the global supply chain, financial tools, and incentives worth 3 billion euros for landmark, strategic, and large investments, as well as 300 million euros in incentives for research and innovation and 350 million euros for the upgrade of research and technology institutes.

New Logistics Centers

To create sustainable freight centers and strengthen the supply chain, two new logistics centers will be established in Thriasio and Thessaloniki (former Gonou military camp), with additional locations under consideration, including ports in Alexandroupoli, Volos, Patras, Corinth, Igoumenitsa, and Serres.

Strategic Investments

The roadmap for major strategic investments includes the continuation of the flagship investment framework, proven to facilitate crucial investments that enhance the country’s self-sufficiency in materials, produce essential products like alcohol, and significantly contribute to the defense industry.

Furthermore, 150 million euros in tax breaks will be provided for major investments over 10 million euros. These investments, especially in border regions, will be classified as strategic, facilitating their financing and licensing.

Additionally, a 300 million euro Guarantee Fund will be created with the European Investment Bank, leading to 1.5 billion euros in leverage. Currently, 61 strategic investments worth 12.5 billion euros are already underway.