The New Investment Incentives Law for the period 2007-2013 was introduced in 2006 to improve  the previous investment incentives law which has been received very warmly by the business community since the beginning of its implementation (March 2005).

The new Law is placing particular emphasis on regional convergence and on the provision of important incentives for new investment projects, especially to small and medium sized enterprises and covers up to 60% of the investment.

More specifically, this law:

• Increases employment,
• Improves the competitiveness of the economy,
• Boosts entrepreneurship,
• Encourages investment activities of small and medium sized enterprises,
• Fosters technological change,
• Achieves regional convergence,
• Simplifies complex procedures for the evaluation of investment projects.

Since the enactment of the law in 2005 around 4,500 private investment projects worth 9.7 billion euros have been approved. These are expected to create more than 23,000 new jobs.

Summary of the Law for Investors

The Investment Incentives Law 3299/2004, modified by law 3522/2006 (Article 37, Government Gazette 276 A', December 22, 2006), is summarized and presented at the website of the Hellenic Centre for Investment.

Link