The budget funds for the strengthening of the investment projects that fall under the regime “Processing – Supply Chain – First Cycle” of the Development Law 4887/2022 have been doubled.
With a Joint Ministerial Decision co-signed by the Minister of Development, Kostas Skrekas, the Deputy Minister of National Economy and Finance, Nikolaos Papathanasis and the Deputy Minister of National Economy and Finance, Athanasios Petralias, the total funds – subsidies and tax exemptions – amount to 300 million euros from 150 million euros that were foreseen in the announcement of the First Round. A total of 256 investment projects with a total budget of 632 million euros are being strengthened.
In more detail, the total amount of the subsidy is more than doubled from 75 million euros to 175 million euros. The total amount of the tax exemption for 2022 amounts from 75 million to 125 million euros. The included investment projects increase from 123 to 256, with a total budget of 632 million euros. Thus, the funds for the subsidy (175 million euros) and the tax exemptions (125 million euros) amount to 300 million euros, an amount twice as much as the initial forecast.
The Minister of Development, Kostas Skrekasmade the following statement:
“After persistent efforts of months, we managed to double the budget funds for the investment projects that are part of the regime “Processing – Supply Chain A’ Cycle”. Both industry and logistics are pillars of sustainable development for our country, creating well-paid jobs through high value-added investments.
We channel a total of 300 million euros into 256 investment projects with a total budget of 632 million euros. in two very critical areas. We actively and dynamically support Greek manufacturing and upgrade Greece to a transit gateway. We resolutely promote the strategic goal of the highest priority for our Government and the Ministry of Development, the re-industrialization of the country”.
According to the protothema, the Deputy Minister of National Economy and Finance, Nikos Papathanasisstated:
“The Government, through the development law, supports entrepreneurship in practice, while, at the same time, we cover with investments the investment gap that arose from the multi-year economic crisis. By supporting entrepreneurship, new and better paying jobs are created.
Improving the pro-investment environment is our strategic goal and has resulted in us achieving record foreign direct investments, a reduction in unemployment and a growth rate multiple times the European Union’s average growth rate. The support of manufacturing contributes to the change of the production model, while at the same time, it strengthens our export orientation. We continue with the support of all the productive sectors of our economy”.
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