Greece’s New Development Bill Aimed at Facilitating Entrepreneurship

Photo © Hellenic Parliament / Aliki Eleftheriou

Simplifying all sorts of procedures that will facilitate entrepreneurship, attract investor interest, create jobs and improve the standard of living are at the core of a new development bill tabled by Development & Infrastructures Minister Adonis Georgiadis on Wednesday, and open for public consultation through to September 17.

Key provisions of the draft bill include attracting strategic investments; simplifying investment plan audits and certification; creating a single digital land map; establishing a national infrastructure register, including properties owned or managed by public sector bodies; improving the operation of business parks; simplifying licensing procedures of industry activities; simplifying the institutional framework for economic activity; amending regulations concerning market inspections and digital communications; setting up a simplified national documentation program; addressing labor and insurance issues; introducing measures to address undeclared work; revising provisions concerning public procurement contracts, and a provision for a Hellenic Investment and Foreign Trade Company.

According to the ministry, the updated bill is aimed at creating a friendlier and functional investment environment while at the same time simplifying procedures for relevant professional/industry fields thus paving the way economic growth.