Greece: Bill speeding up investment processes under a single law is posted for public consultation

A bill speeding up the process of private and strategic investments was posted for public consultation on Friday.

Titled “Strategic investments and improvement of the investment environment through acceleration of processes in private and strategic investments,” it was signed by Development & Investments Minister Adonis Georgiadis and Alternate Minister Nikos Papathanassis.
It will be available for comment until 22:00 on September 9.

Its first of two parts combines the two basic investments laws (4608/2019 and 3894/2010) into one law, resolving the issue of their parallel and sometimes conflicting regulations.

Part B mproves provisions of law 4300/2016 on private sector investments and updates their status, and it allows more flexible options in types of activities for businesses. It also introduces improvements in evaluation and management of investments to implement them faster and improve their effectiveness.

Minister Georgiadis commented that the bill took several months in the making, and once it becomes law “will accelerate to a great degree the process of strategic investments, and make life easier for investors.”

Alternate Minister Papathanassis termed the draft bill “the Bible of Strategic Investments”, since an investor will find in it whatever he or she needs to table a proposal and see it become reality without obstructions and bureacracy.

Source: amna.gr