Gov’t approves 70 investment plans for inclusion in new development law

Seventy private sector investment plans with a total budget of 500 million euros were approved by the General Directorate of Private Investments, prior to being included in the new development law that boosts competitiveness and trade, according to the Economy ministry.

The plans, the first to be approved for inclusion in the new incentives law, were submitted by 62 businesses (two of which are in the process of being set up), and they relate to the sectors of hotels, foods, beverages, and the aluminium industry. Partial funding is provided by the EU’s NSRF 2014-2020 program.

A temporary list of all the submitting companies is uploaded on the site https://www.ependyseis.gr/news/n4399_pp_katataxis.pdf.

Overall, a total of 802 investment plans worth 2.1 billion euros are awaiting decision to be included in the development law. Of these, 43 are for large-scale projects with a budget of over 10 million each. Of all submitted proposals, 40% are motivated by tax relief incentives, 5% by a combination tax relief and subsidy incentive, and slightly over 1% are interested in the job-creation incentive.