Development Law 4887/2022 remains one of the main tools of economic policy, aiming to stimulate entrepreneurship and the transition of the Greek economy to a more competitive and extroverted model of development.
According to a briefing note by anodos consulting, the launch of three new aid schemes confirms the strategic direction towards sustainable development, technological upgrading and the reduction of regional disparities, while creating an attractive framework for investors from Greece and abroad.
The first scheme concerns “Manufacturing – Supply Chain” and has a budget of €150 million. It focuses on the modernisation of production and logistics, supporting investments that increase the added value of industry and improve the competitiveness of businesses. In this context, it supports actions including upgrading of facilities, supply of equipment, digital tools, but also intangible interventions such as certifications, know-how and information systems. At the same time, support for environmental actions and staff training is foreseen, while aid rates can reach up to 75% depending on the region.
The second scheme, “Special Aid Areas”, aims to support investments in areas with development and demographic challenges, such as parts of Northern Greece, Epirus, Thessaly, small islands and areas of de-lignification such as Kozani and Megalopolis. The programme also includes tourism in selected areas, with an emphasis on quality hospitality, infrastructure upgrading and alternative accommodation models. The minimum investment amount is set at €2 million, while the subsidy can also reach up to 75%, reinforcing the decentralisation of development.
The third scheme concerns “Large Investments”, with a threshold of €15 million, and aims to attract strategic large-scale projects. It provides for aid for investment in production, technology and innovation, with additional incentives for mountain, island and border regions. The maximum amount of aid can reach €20 million per project.
Together, the three schemes make up a single and multi-level aid scheme covering small to large enterprises, with a focus on manufacturing, tourism, green growth and technological development. As anodos consulting points out, the success of the framework is directly linked to the speed of assessment and implementation of investment projects, but also to the effective cooperation of the banking system, which is called upon to support access to finance.
Finally, it is stressed that the real impact of the law will depend not only on the available incentives, but also on the consistency in its implementation, so that it will become a substantial driver of growth and strengthening of the Greek economy in the coming years.
