Theodorikakos: New Development Law Aims to Reduce Regional Inequalities

For the first time under the new development law, there will be a separate regime with a total value of €150 million for investment projects worth at least €2 million developed in border regions. This primarily concerns our Macedonia and Thrace regions, which we support with actions. We place great emphasis on reducing social and regional inequalities, stated the Minister for Development during a Saturday (March 15) event organized by the Office of Productive Entities and Entrepreneurship of ND at the 33rd Money Show in Thessaloniki, as well as the official Gala representing Prime Minister Kyriakos Mitsotakis. The other two regimes, also funded with €150 million each, concern processing and large investments exceeding €15 million each. Overall, in 2025 and 2026, €900 million will be allocated in tax breaks and grants, with Northern Greece potentially receiving the lion’s share. These funds will complement those already provided for transformation in the Central Macedonia Region, where 67 investment projects have been approved with €97 million in funding. The Minister emphasized that there will soon be a series of interventions concerning Thessaloniki, which can only move forward in the coming years. It has a new dynamic identity and excellent advantages highlighted by new infrastructure. Thessaloniki is set to become the capital of the Balkans and the broader Southeastern Mediterranean region. The city lies at the heart of a comprehensive development strategy, as it hosts the largest industrial park in the Balkans at VIPE Sindos, where works worth €15 million are underway, half funded by the Ministry of Development through the Recovery Fund. Additionally, the competition for the former Gonou camp is progressing, where an ultra-modern and highly useful commercial center will be created. Over the next 100 days, several reforms concerning entrepreneurship will proceed, including legislation to reduce administrative burden by 25%, along with a system for certification and verification of products and services through the establishment of a National Digital Registry for businesses, products, and services in circulation. This aims to boost the competitiveness of our companies and enhance security. The government plans three more development regimes totaling €150 million, focusing on extroversion, modern technology/innovation, and enhancing social entrepreneurship, emphasizing the country’s borders. The ultimate goal of these measures is to address the acute demographic problem of our nation, ensuring young people want to live in rural areas. “There is no better ‘fence’ for protecting our borders than establishing industries and businesses in border areas that will keep our children in their birthplaces,” underscored Theodorikakos. He also spoke about the steady developmental progress of our country and recent achievements over the past six years despite challenging international conditions, noting Moody’s decision to award Greece an investment grade rating, proving Greece’s financial stability and promising economic prospects.