The approval for the Sectoral Development Programme for the period 2021/25 with a total budget of EUR 885 million; euros announced the Ministry of Development and Investment .

The Sectoral Development Programme 2021-2025 serves the main strategic objective of supporting and developing entrepreneurship and enhancing the transformation mainly of the manufacturing sector. Emphasis is placed on the quality of its factors of production and operation. It aims to be a driving force of outward-looking economic growth and employment in the country.

Sectoral Development Programme - Budget

The Sectoral Development Programme 2021/25 has A total budget of EUR 885 million euros. It consists of four sub-programmes per policy area. More specifically:

Sub-programme A: "Enhancing entrepreneurship / creating a friendly business environment".

Subprogramme B: 'Strengthening industry'.

Subprogramme C: 'Strengthening research and technology'.

Subprogramme D: 'Trade support and consumer protection'.

Sectoral Development Programme - Programme Structure

Subprogramme A

More specifically, through Subprogramme A, in order to enhance entrepreneurship, private investments are financed, with the implementation of private investment aid schemes for the regional and economic development of the country (development laws). The incentives provided mainly include fixed assets subsidy, tax exemption, leasing subsidy, cost subsidy for employment created, financial tools and accelerated licensing. For the first time, schemes to attract foreign direct investment will also be financed. Finally, public-private partnerships (PPPs) play an important role. They will utilize the know-how and efficiency of the private sector, while at the same time the State maintains a strong supervisory role.

Subprogramme B

Subprogramme B for Industry mainly concerns aid for private investment provided under development laws, reflecting the increased interest in strengthening private investment. In addition, new investment initiatives are foreseen to support and adapt SMEs to the needs and perspectives of Industry 4.0, capacity building, human resources development, and technical assistance to improve the operation of the General Secretariat for Industry and the supervised bodies, in responding to the challenges of 2030.

Subprogramme C

The resources of Sub-programme C, for the field of Research and Innovation, cover actions to support activities of the General Secretariat for Research and Innovation, such as the evaluation of research institutions and the support of the operation of the National Council for Research, Technology and Innovation and Sectoral Scientific Councils, as well as actions to support research institutions and HEIs, such as upgrading the infrastructure of educational institutions and flagship actions in agri-food, precision medicine and climate change.

Subprogramme D

Sub-programme D strengthens the trade and consumer protection sector, including actions to support the smooth operation of trade (businesses and consumers) in order to address the effects of the pandemic. At the same time, it is reinforced with actions to address persistent structural weaknesses of the market. The aim is sustainable development and strengthening its resilience.

For the technical and administrative support of the Ministry of Development and Investments there is a separate sub-programme

Management Service - Sectoral Development Programme

The Directorate for the Management of the National Public Investment Program of the Ministry of Development and Investments will ensure that the actions of the Sectoral Development Program 2021-2025 (investments, aid, modernizations, etc., as they result from the aforementioned specific objectives) will be implemented on the basis of the relevant Management and Control System and with sufficient environmental compatibility. It will also monitor the development of the physical and economic scope of the projects. In addition, the significant impact on the environment from the implementation of the Sectoral Programme 2021/25 will be monitored, in close cooperation with the relevant General Secretariats. In parallel, final beneficiaries and supervised implementing bodies will be supported.