Greece Launches €3 Billion Plan to Strengthen Industry and Attract Investment

08:17 4/11/2024 - Πηγή: iEfimerida

The Greek government has unveiled a comprehensive plan to boost the country's industrial sector and attract investment, with a focus on innovation, sustainability, and supporting small and medium-sized enterprises (SMEs).

The

centerpiece of the plan is a €3 billion investment package to finance major industrial projects in key sectors such as defense, pharmaceuticals, and textiles.

The funding, drawn from both national and European sources, will be deployed over the next three years, targeting regions like Macedonia, Thrace, and Thessaly.

The goal is to promote the development of export-oriented industries with a low environmental impact, ultimately improving Greece's trade balance.

To further strengthen the industrial sector, the government is introducing new incentives and tax breaks to encourage mergers and transformations among SMEs. This will help them become more competitive in both domestic and international markets.

Companies that merge or transform will benefit from a 30% tax reduction for three years, provided the partnership lasts at least five years. Full expense deductions will also be available for businesses acquiring other companies.

The government is also prioritizing research and development (R&D) by offering significant tax deductions for collaborative projects involving startups and research centers. The deductions can reach up to 315% for certain projects.

Additionally, the government will increase the limit for investments eligible for tax deductions for "Angel Investors," encouraging private investment in innovative ventures.

These measures aim to attract high-tech investment and stimulate innovation within the Greek market. By focusing on these areas and supporting the growth of SMEs, the government hopes to build a more resilient and competitive economy.

This ambitious plan reflects Greece's commitment to fostering sustainable industrial growth and adapting to the evolving global economic landscape.

The government believes these initiatives will deliver long-term benefits and position Greece for continued economic success.

Διαβάστε περισσότερα στο iefimerida.gr