Development Min Theodorikakos: New productive model for sustainable growth across Greece

Development Minister Takis Theodorikakos outlined Greece's plan for economic transformation at an event held at the National Gallery on Monday, in the presence of Prime Minister Kyriakos Mitsotakis

Development Minister Takis Theodorikakos outlined Greece’s plan for economic transformation at an event held at the National Gallery on Monday, in the presence of Prime Minister Kyriakos Mitsotakis. Theodorikakos presented measures and policies aimed at achieving a new productive model for Greece’s economy.

“Our goal is to transform this decade into a period of successful productive transformation of the Greek economy, with a focus on strengthening industry and increasing productive investments. This will result in growth for all, productive development across the country, and sustainable progress through investment, support for entrepreneurship, and adaptation to the green and digital transition,” Theodorikakos said.

He emphasized that this transformation is crucial for Greece to meet Prime Minister Mitsotakis’ dual objectives for the next four years: converging the incomes and living standards of Greeks with the European average and reducing social inequalities.

Step-by-step, more than 3 billion euros will be injected into the market through:

• Funding 1 billion euros for investment proposals in tourism, manufacturing, agri-food, and general entrepreneurship.
• Implementing a 90-million-euro infrastructure upgrade program in 20 industrial parks.
• Supporting landmark investments with 170 million euros from the RRF.
• Launching a large investment framework offering 150 million euros in tax exemptions for investments over 10 million euros.
• Promoting a special framework of 150 million euros for investments in border regions and Thessaly for projects exceeding 1 million euros.
• Allocating an additional 150 million euros for a manufacturing framework: 75 million euros in support and 75 million euros as a tax exemption.
•  Creating a 300-million-euro Guarantee Fund in cooperation with the European Investment Bank.
•  Operating the Development Law Financial Instrument Guarantee Fund (DeLFI GF), worth 500 million euros, through the Hellenic Development Bank (HDB).
• Continuing support for the pharmaceutical industry with 200 million euros via the investment clawback mechanism.
•  Advancing a 102-million-euro digital transition program for small and medium-sized enterprises.
• Investing over 300 million euros in research and innovation incentives, with an additional 350 million euros for upgrading research and technology institute infrastructure, of which 212 million euros are from the RRF.