Greece’s new production model is based on the “square logic” of: investments, exports, innovative small and medium-sized enterprises, digital education and absorption of unemployed through active employment programs, Economy Minister Dimitri Papadimitriou announced in an interview with ANA and stressed that development actions that have been planned covered the entire spectrum of government operation and hence all ministries.
In reference to the Ministry of Economy and Development, Papadimitriou noted the 14 axes of interventions and improvements designed to benefit entrepreneurship while he announced that the second round of investment plans of a new development law will be announced in autumn for the four already activated schemes (general entrepreneurship, new independent SMEs, strengthening of machinery equipment, major investments).
The Greek minister stressed that the investment proposals that were submitted in the first round have already begun to be evaluated, and that four other schemes (Intermediate Financial Institutions – Holdings Funds, Innovative SME Facilities, Integrated Territorial and Sectoral Inventions, value chains, synergies and networking) are expected to be launched this year. The status of “Intermediate Financial Institutions – Holding Funds” will be first chronologically in autumn and the other three regimes will follow.
In the meantime, new public/private sector projects are expected to be announced soon, both for new contributing projects and for new social infrastructure projects. Simultanesously, all possible funding mechanisms are activated, including cooperation with the European Investment Bank (EIB) and in the framework of EFSI, the EBRD and IFC-World Bank for additional funding of joint public/private projects.
Concerning large investments benefiting from a special fast track regime, as Mr Papadimitriou underlined, to date, a total of 13 projects have been included, but the planned procedures are normally implemented for 10 of them, with a total budget of 2.65 billion euros.
The remaining three investments are in the process of redeployment for different reasons, while four new investments were submitted to the Interministerial Committee for Strategic Investments, but only one was approved. The approved investment concerns tourism projects (hotels, residences, marina and shops) worth 408.5 million euros that will create 763 new jobs. “Finally, there are four other investments that are on the waiting list for fast track inclusion”, the minister added.
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Photo Source: Wikimedia Commons Copyright: Tilemahos Efthimiadis License: CC-BY-SA
Source: ANA-MPA
