Greece approves preliminary bill for foreign direct investment

The Greek Parliament's Production and Trade Committee has provisionally approved a bill regarding foreign direct investment (FDI). The legislation passed with the support of the New Democracy party, while PASOK and Hellenic Solution expressed reservations regarding their final stance in the plenary session. Other opposition parties voted against the bill.

Development Minister Takis Theodorikakos stated that the bill is designed to significantly facilitate foreign companies entering the country for productive investments. He noted that Greece's improved fiscal image and declining debt make it an attractive destination. The framework focuses on manufacturing, industry, innovation, applied research, and new technologies to build a more competitive and resilient economy.

Rather than providing direct subsidies, the bill utilizes tax exemptions and streamlined licensing to encourage productive transformation and the creation of higher-paying jobs. The Minister emphasized that the entire process will be governed by transparency. In response to opposition concerns regarding small and medium-sized enterprises (SMEs), Theodorikakos noted that 1.5 billion euros is available through the Development Bank for SME lending.