The auditors will control the completion of investment projects over 700,000 euros that will be included, as required by the Development Law. The Law is submitted to the Parliament where the consultation process will begin.

This change, according to the Deputy Minister of Development, Mr. Nikos Papathanasis, will significantly reduce the approval time of investment plans to 45-60 days from 110 today and from 670 days ago.

For investment projects below €700,000, The investor will have the opportunity to choose either the auditor or to contact the competent services of the region he belongs to. However, in case he chooses the services, there will be provision that the evaluation process will have been completed within 45 days. Otherwise, i.e. in the event that the process is not completed within the specified time period, then the application will go to the Auditor, according to the deputy minister.

Also, according to the Deputy Minister, under the new Law All stages in the audit are abolished. In the evaluation, the stage of completeness is abolished, which is automated. In this case, the stage of legality is made by a statement from the members of the register of evaluators.

The new Development Law, as the Deputy Minister points out, will consist of 13 thematic units. Through these thematic units, the State will be able to exercise a specific policy.

Development Law - The regions

Another important change of the new Developmental, according to Mr. Papathanasis, is that the burden of the new Development Plan is shifting towards the periphery. As provided by the Development Law in the Regions, the support rates are increased. In Thessaly, for example, the rates of aid through the Development Law will start from 50% for large companies. For medium-sized and small enterprises this percentage will be 60% for the former and 70% for the latter.