Kostis Hatzidakis introduced a contemporary, easy and clear framework for company transformations, tax incentives and elevated grants from the NSRF and the Growth Financial institution for enterprise mergers and investments in analysis and innovation.
The Minister of Finance, Mr. Hatzidakis, throughout his speech on the Mergers & Acquisitions Summit, said that acquisitions and mergers are a key device for the evolution of the economic system as they result in the creation of bigger and extra dynamic corporations that may to be aggressive at a world stage and on the identical time supply extra and higher high quality jobs. As well as, they’re linked to the attraction of funding which suggests an influx of capital into the nation, but additionally typically an influx of know-how from overseas.
On this context, past the dependable financial coverage, with an emphasis on reforms and the cultivation of an investment-friendly local weather, the federal government is continuing with particular interventions to encourage mergers which – because the minister famous – embody the next:
- Invoice on company transformations to be tabled quickly for voting. “As we speak there’s a scattered and fragmented framework that begins in 1972 and spreads over legal guidelines of various many years. And this, understandably, doesn’t contribute to an investment-friendly surroundings. Our objective is to type a transparent regulatory framework, which would be the central level of reference for corporations and traders who need to proceed with mergers”, emphasised Mr. Hatzidakis.
- This invoice will embody, amongst different issues, tax incentives for mergers – along with the incentives established 3 years in the past by the federal government of the New Democracy – but additionally for investments in analysis and growth, because the minister famous, innovation and progress are ideas largely interrelated.
- Extra monetary incentives for mergers and innovation from the NSRF and the Growth Financial institution, to be carried out by autumn. Specifically, additional assist is offered for funding by corporations which can be the product of a merger, in order that these corporations have extra means for progress and innovation.
“Sustainable charges of financial progress presuppose a extra aggressive economic system. And this, in flip, presupposes bigger, extra outward-looking companies. With incentives and with out coercion, as a result of we aren’t a Soviet nation, however there isn’t any economist, no matter political orientation, who doesn’t recommend that we transfer on this path”, concluded the minister.
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