The proclamation for the ‘Strengthening Tourism Investments’ regime of the new Development Law was signed

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The Deputy Minister of Development and Investments, Mr. Nikos Papathanasis, signed today the proclamation for the “Strengthening of Tourism Investments” Support Status of the new Development Law 4887/2022.

September 5, 2022 is set as the start date for submitting applications for inclusion of investment projects in the “Tourism Investment Support” Support Regime and December 5, 2022 is the closing date for the submission cycle.

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To be included in this aid scheme, the minimum amount of the eligible cost of the investment project amounts to:

a. 1,000,000 euros for large companies,

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b. 500,000 euros for medium-sized enterprises,

c. 250,000 euros for small businesses,

d. 100,000 euros for very small businesses,

e. 50,000 euros for Social Cooperative Enterprises (SOEs), as well as Agricultural Cooperatives (AS), Urban Cooperatives, Producer Groups (OP) and Agricultural Partnerships (A .E.S.).

Applications are submitted through the new Integrated Information System (https://opsan.mindev.gov.gr) which supports the entire “life cycle” of the investment plans of the Development Law.

For the full text of the announcement and more information, you can browse the website of the General Secretariat of Private Investments and PPPs (https://ependyseis.mindev.gov.gr).

The Minister of Development and Investments, Mr. Adonis Georgiadis stated:

“I feel particularly happy that today, just two weeks after the promulgation of the new Development Law for the “Manufacturing – Supply Chain” Support scheme, we are signing the second “Tourism Investment Support” scheme, which is aimed at an industry of vital importance to development of our economy. It is another success of the Ministry of Development and Investments and especially of the Deputy Minister, Mr. Nikos Papathanasis. With the tool of the new Development Law we are creating a modern investment model that will make our country competitive in attracting new investments, contributing decisively in strengthening the economy and creating more and better jobs”.

The Deputy Minister of Development and Investments, Mr. Nikos Papathanasis said in this regard: “When the new Development Law was passed by the Parliament, we committed to activate the first aid regimes as soon as possible, in order to satisfy the increased interest of the business community. In just two weeks ago we announced two aid regimes, first the “Processing-Supply Chain” and today the “Strengthening of Tourism Investments” which comes to support a very important and powerful branch of the Greek economy, tourism. We continue our work unabated and very soon we will let’s move forward with the next aid regimes. We are changing the country’s production model and giving all the necessary resources to entrepreneurship to flourish and strongly strengthen employment in our country.”

Source: Capital

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