Theodarakakos: New Development Law is the Pillar of Greece’s Economic Transformation

in

Today (May 20, 2025), the Minister for Development, Mr. Theodarakakos, presented a new development law in Parliament, describing it as a strategic tool to meet the need for productive transformation of the Greek economy. He emphasized that Greece requires a more productive and resilient growth model, with the new Development Law serving as a cornerstone of this strategy. The law forecasts an investment framework exceeding €1 billion for the period 2025-2026, prioritizing processing, large investments, social entrepreneurship, export orientation, and economically weaker regions. A total of 12 support regimes are established, targeting modern technology, agrifood, tourism, supply chains, and value chains. Approvals for investment projects will be completed within 90 days through a fully digitized evaluation system, ensuring rapid implementation. The law aims to boost productivity, employment, competitiveness, and export focus. Key features include the creation of three new regimes—’Modern Technologies,’ ‘Social Entrepreneurship & Crafts,’ and ‘Special Regional Support Regime.’ A Guarantee Fund with up to €300 million participation from the Greek Public Sector will provide loans worth €1 billion via the European Investment Bank. Additional incentives such as fast-track licensing and loan guarantees are also included.