“Manufacturing – Supply Chain 1st Cycle”: Doubling of budget funds to strengthen investment projects

Budget funds are doubled to support investment projects under the regime “Processing – Supply Chain – First Cycle” of Development Law 4887/2022.

With a Joint Ministerial Decision co-signed by the Minister of Development, Kostas Skrekas, the Deputy Minister of National Economy and Finance, Nikolaos Papathanasis and the Deputy Minister of National Economy and Finance, Athanassios Petralias, the total funds -subsidies and tax exemptions- amount to 300 million euros from 150 million euros foreseen in the announcement of the First Round. A total of 256 investment projects with a total budget of 632 million euros are being supported. 

In more detail, the total amount of the subsidy more than doubles and rises from 75 million euros to 175 million euros. The total amount of the tax exemption for 2022 amounts from 75 million to 125 million euros. The included investment projects increase from 123 to 256, with a total budget of 632 million. euro.

Kostas Skrekas, Minister of Development

“After months of persistent efforts, we managed to double the budget funds for the investment projects included in the regime “Processing – Supply Chain 1st Cycle”. Both industry and logistics are pillars of sustainable development for our country creating well-paid jobs of workthrough high added value investments. We channel a total of 300 million euros into 256 investment projects with a total budget of 632 million euros. in two very critical areas. We actively and dynamically support Greek manufacturing and upgrade Greece to a transit gateway. We resolutely promote the highest priority for our government and the Ministry of Development strategic goal, the re-industrialization of the country“.

Nikos Papathanasis, deputy minister of national economy and finances

“The government, through the development law, practically supports entrepreneurship, while, at the same time, we cover with investments the investment gap that arose from the multi-year economic crisis. By supporting entrepreneurship, new and better-paid jobs are created. The improvement of the pro-investment environment is our strategic goal and has the result of achieving record foreign direct investment, a reduction in unemployment and a multiple growth rate of the average growth of the European Union. Supporting manufacturing contributes to changing the production model, while at the same time strengthening our export orientation. We continue with the support of all the productive sectors of our economy”.