Loans, grants and tax breaks added onto development law
Loans, grants and tax breaks added onto development law
The ministerial meeting that will take place in Parliament today at 4,
will deal with four bills. These are: reinforcement of private
investment for economic growth, entrepreneurship and regional cohesion, emergency measures of program implementation for the support of the
Greek economy, postal services, electronic communications etc and
establishment of institution for the research and exploitation of
hydrocarbons.
UPD:
The ministerial meeting that will take place in Parliament today at 4,
will deal with four bills. These are: reinforcement of private
investment for economic growth, entrepreneurship and regional cohesion,
emergency measures of program implementation for the support of the
Greek economy, postal services, electronic communications etc and
establishment of institution for the research and exploitation of
hydrocarbons.
The new development law by Chrisochoides
The new bill for growth will move along three lines, as the minister and vice minister of Development Mr Michalis Chrisochoides and Mr Sokratis Ksinidis respectively, will present to the meeting. The first line embraces tax exemptions as a condition for everyone to declare all their earnings. The second line provides grants under two basic conditions: a) investments must highlight features of the area and b)they must promote regional convergence.
The third line is composed of the loans that will be given through the new Greek Fund for Entrepreneurship and Development. The aim of the political leadership of the ministry is to give money directly to businesses, not only for property investments but also for intangible costs such as working capital.
In parallel, the bill provides rewards for the following areas:
The new development law by Chrisochoides
The new bill for growth will move along three lines, as the minister and vice minister of Development Mr Michalis Chrisochoides and Mr Sokratis Ksinidis respectively, will present to the meeting. The first line embraces tax exemptions as a condition for everyone to declare all their earnings. The second line provides grants under two basic conditions: a) investments must highlight features of the area and b)they must promote regional convergence.
The third line is composed of the loans that will be given through the new Greek Fund for Entrepreneurship and Development. The aim of the political leadership of the ministry is to give money directly to businesses, not only for property investments but also for intangible costs such as working capital.
In parallel, the bill provides rewards for the following areas:
1. Innovation and high tech
2. Youth entrepreneurship
3. Major investments over 50mil and down to the lowest fast track level. One investment will not be simultaneously included in both the development law and the fast track.
4. Networking - cooperation through joint endeavors to accelerate business partnerships.
3bil euros will be invested in the provinces while the state will contribute to the Fund for Entrepreneurship and Development with 490mil euros. The banks will contribute over 900mil and as a higher ministerial member says, they are willing to do so.
The ministry is going to bring for approval, at the next ministerial meeting by the end of the year, a multi-bill which will break down in three separate bills: a) procedure simplification for the initiation and setting up of alteration businesses, b) licensing of technical occupations and, c) bill for industrial parks.
2. Youth entrepreneurship
3. Major investments over 50mil and down to the lowest fast track level. One investment will not be simultaneously included in both the development law and the fast track.
4. Networking - cooperation through joint endeavors to accelerate business partnerships.
3bil euros will be invested in the provinces while the state will contribute to the Fund for Entrepreneurship and Development with 490mil euros. The banks will contribute over 900mil and as a higher ministerial member says, they are willing to do so.
The ministry is going to bring for approval, at the next ministerial meeting by the end of the year, a multi-bill which will break down in three separate bills: a) procedure simplification for the initiation and setting up of alteration businesses, b) licensing of technical occupations and, c) bill for industrial parks.
UPD:
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