Greece’s New Growth Model to Tap into Innovation, SMEs, Foreign Investment

The economy ministry is drawing up a new strategic plan to boost development focusing on attracting foreign investment, facilitating the growth of small- and medium-sized enterprise (SMEs) and tapping into innovation while the international community regains its confidence in Greece.

The new act aims to incorporate EU guidelines for strengthening the real economy, utilize the experience and know-how acquired during the crisis and focus on productive enterprises while ensuring the use of renewable energy sources.

“The law aims to incorporate the experience gained during the crisis, will be aligned with EU strategy for growth and support of the real economy, and will at the same time be fully in line with the country’s new development model,” economy ministry insiders told Greek daily To Vima.

“Investors can discern an intention by Europe to provide support. Momentum is building up for international investors. Despite the high stakes, they can see that the investment risk is decreasing and the framework covering foreign investment is becoming more flexible,” one economy ministry official told To Vima.

The government is expected to present its overall policy during a vote of confidence this month.