AIF: The development bill is in a positive direction

The bill for the new development law is moving in a positive direction, trying to make the investment climate in the country friendlier, simplifying procedures and expanding the circle of investment projects that have the possibility to join it.

This was stated by the President of the Economic Chamber of Greece, Konstantinos Kollias, in his position in the competent committee of the Parliament.

As he said, the AIF is positive about the bill, but there are specific points that need improvement. These are:

-The incentive of the subsidy in the Medium Enterprises is not foreseen, as it was valid in the previous Law for the sectors of Technology – Information – Communication & Agri-food. It is proposed to keep at least the provisions of Article 12 of Law 4399/2016, according to which, only those Medium-sized companies that fell under these provisions used the incentive of the grant.

– Individual Enterprises are no longer included in the Beneficiaries (article 13). Clarification could be given for some Regimes, such as the Agri-food for Farmers – Livestock Breeders.

-To provide special assistance in areas with high unemployment and low GDP per capita.

-Examine the expansion of eligible investment projects, including activities not prohibited by European legislation, such as medical tourism, while directly promoting the legal framework to attract investors in this area.

-To include Business Warehouses for all sectors, provided that the observance of Long-Term Liabilities amounts to 10 years, so as not to circumvent the term “Business Warehouses” for other uses and to be used either by third parties or for own use.

-Provide a mandatory signature of an economist – member of the Economic Chamber of Greece in all applications for inclusion in an independent budget, in order to ensure the level of proposals. It is necessary to create a register of certified economists, in order to have a high level of investment plans. It is proposed that the AIF be responsible for the evaluation, creation and maintenance of the register.

-Examine the possibility for an additional subsidy rate, in areas that present a dramatic decrease in population and aging (eg the northern part of the prefecture of Evros above Orestiada, the area of ​​Nevrokopi and Paranesti of Drama, etc.).

-Strengthening of Tourism Investments: To remove the horizontal establishment of the 4 stars as a criterion for integration and to keep the previous specifications, ie the 3 stars.

-For the evaluation methods: In special schemes, such as: a) Digital transformation, b) Green transition, c) Fair development, d) Research and applied innovation, e) Large investments, direct evaluation was chosen as the evaluation system. In these aid schemes, however, good proposals need to be adopted.

-Because the Immediate Evaluation may favor a low-scoring proposal, simply because it was submitted earlier, compared to a possible very good high-scoring proposal, which was submitted a few days later, a distortion is created.

A representative of the Hellenic Chamber of Commerce (OEE) and a Representative of the Technical Chamber of Greece (TEE) should participate in the Aid Impact Assessment Committee.

-The AIF to undertake the monitoring and evaluation of the course of implementation of the New Development and to prepare an annual report, which will refer to it. Article 128 of the Draft Law provides that this work will be performed by the Ministry itself, which has the relevant data. We consider that it would be appropriate, in addition to the evaluation by the Ministry, to have an evaluation by an independent body.