A new investment law to be tabled to Parliament soon will focus on tax-exemptions, preserving direct support to special investment categories and offering incentives to relocation to less-developed regions, Economy ministry sources told ANA-MPA today.
The guidelines of the new legislation will be:
- supporting existing and creating new export-orientated, innovative enterprises
- boosting employment, particularly of skilled personnel
- strengthening cooperation through supporting cooperative groups, social economy enterprises, mergers and clusters
- supporting regions with lower development dynamism
The new development law will also be simplified compared with prevailing bureaucracy and put an end to mistakes made in the past such as lack of funds safeguarding and state debts to private investors piling, according to Economy Minister George Stathakis.
In a recent radio interview, Stathakis said the new development law will be simple, with adequate funds, it will focus on sectors with comparative advantage for Greece, such as a special categories of tourism, high technology, etc, offering all incentives -beyond the classic funding through subsidies- using other funding tools.
Incentives to attract foreign investments
The law shall also focus on supporting youth business activity and small- and medium-sized enterprises and will offer incentives to attract foreign investments, creating a stable (but not reduced) tax status for seven years until completion of amortization.
The new investment legislation will also emphasize on subsidizing leasing while it is currently finalized and will be tabled to Parliament within the next few days.
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