Subsidies: Greece now wants to attract completely different companies - and pays investors up to 20 million euros
Athens will steer foreign capital more strongly and is focusing its promotion on ten sectors. German companies can also apply for up to 20 million euros per project.
Athen, Greece is implementing a new strategy to attract foreign investment, setting itself apart from the previous investment boom driven by real estate, tourism, and other services. The conservative Prime Minister Kyriakos Mitsotakis' government aims to bring in capital that generates more value and boosts the country's economic productivity.
They plan to achieve this through a range of incentives, including tax breaks, loan guarantees, and expedited permitting processes. The focus of this new approach is on sectors such as manufacturing, research and applied innovation, artificial intelligence, biotechnology, and defense and aerospace industries. Additionally, sectors like logistics, healthcare, and social welfare, including nursing homes, are also eligible for support.
The government is countering the previous investment focus by encouraging Greenfield investments, which involve the construction of new factories, locations, or business units from scratch – often on previously undeveloped land. To facilitate these investments, the Development Ministry has submitted a draft law to Parliament for further discussion.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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