A strong wave of investor interest has been recorded in the second application round for the three main incentive schemes under Greece’s new Development Law, with a total of 270 investment projects submitted by the deadline on Friday, 24 July. Of these, 170 projects fall under the Manufacturing & Supply Chain scheme, 86 under Specially Designated Areas, and 14 under the Major Investments scheme — each backed by €150 million in state funding.
Continuity, Stability, and Trust
These are the first three schemes launched under the updated Development Law, and due to high market response, they were immediately re-announced — reflecting the law’s guiding principles of ‘continuity, stability, and credibility’, as outlined by Development Minister Takis Theodorikakos.
This new round builds directly on the results of the first, which saw 125 projects approved with a combined investment value exceeding €870 million and an estimated 2,200 new jobs created.
Minister’s Statement
In a statement to the Athens-Macedonian News Agency (AMNA), Minister Theodorikakos said: ‘The Development Law is a credible and effective tool for driving Greece’s productive transformation. With consistency, speed, and reliability, we are directing available resources where real value is generated: in industry and manufacturing, major investments, the regions, and areas with incomes below the national average. We support investments that stay in our country, strengthen its productive base, build technological expertise, reduce regional disparities, and deliver more — and better-paid — jobs. By 2030, Greece must produce more efficiently, export more, and innovate sustainably — all while safeguarding social cohesion.’
Industry, Regions, and Production at the Core
The focus of these schemes reflects the core of Greece’s new productive model: prioritising manufacturing and industry, large-scale investments, border regions, and underdeveloped areas — ensuring public funds flow into job-creating, production-oriented projects that help narrow regional inequalities.
Parallel to this, the Ministry of Development has also launched a new €150 million incentive scheme for the Agrifood Sector. Its second application round opens on 3 August, with emphasis on modernising agricultural production, processing farm products, improving quality, and boosting employment.
Faster Approvals: 90-Day Target
A cornerstone of the new framework is significantly accelerated procedures. Investment project evaluation and approval are now strictly completed within 90 days — a benchmark widely recognised as a major improvement in administrative efficiency.