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Tag Archives: investment

Council of State nixes Piraeus port investment plan by COSCO-OLP

Greece’s highest administrative court has pulled the brakes on an investment plan for the country’s biggest port that was part of the 2016 concession agreement between Piraeus Port Authority (OLP) and China Ocean Shipping Company (Cosco). In a ruling on Monday, judges at the Council of State found that previous …

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Investment spending in Greece fell 6.9% in 2020, to grow by 2.8% in 2021

Investment spending in the manufacturing sector fell 6.9% in 2020 compared with the previous year, the Foundation for Economic and Industrial Research (IOBE) said in a report on Monday. The survey on industrial investments in the period October-November 2020 showed that investment spending in the manufacturing sector is expected to …

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Microsoft announces 1 billion euros investment in Greece

Microsoft Corp. has announced one billion euros investment in Greece on Monday. In an event at the Acropolis Museum, Microsoft president Brad Smith spoke of the “biggest investment in the 28 years the company is present in the country. The massive investment will be used for the establishment of a …

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Volkswagen plans major e-cars investment on the island of Thassos

Volkswagen is considering a major Electro-Mobility investment on the island of Thassos. The German carmaker has reportedly chosen the island in the North-West Aegean Sea to test electric cars, new technologies and innovations in the field of electric driving and autonomous driving. The investment is in the context of “Smart …

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Greek Gov’t to give incentives for investment in digital technology

The Greek government plans to offer incentives for investments in digital technology as it seeks a faster transition to a digital era, Development and Investments Minister Adonis Georgiadis said on Monday, addressing a “Digital Economy Forum 2019, Leading Greece to Growth” forum. “Greece has significant advantages and most of all …

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Greek Budget 2020: Economy to grow 2.8% with investment, tax cuts

Greece expects its economy to grow by 2.8% next year, driven by higher investments, improving domestic demand and tax cuts as the country recovers from a decade-long debt crisis. Data from the 2020 budget, formally submitted to parliament for approval on Thursday, also forecast a primary surplus of 3.56% of …

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Golden Visa properties in Greece may be purchased per credit or debit card

An amend bill tabled by Development and Investment Minister, Adonis Georgiadis, allows investors who buy real estate in order to secure residence permit via the Golden Visa program to make their purchases via credit card or POS. The bill is to be voted today, Thursday, at the Greek Palriament. The …

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DevMin: “Stability, privatizations, flexible employment will bring investment to Greece”

“Stability, privatizations and flexible employment will bring investments,” Development Minister Adonis Georgiadis said on Friday. “We are building an investment environment that allows the investor to make money and we tell him you will come here, will not be bothered by going from office to office, you will not beg …

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The Hellinikon Resort: Unripen Innovation & Economy Marvel

Supranational institutions such as the IMF and European Central Bank push forward the Hellenic Republic to follow through economic reforms and ensure international creditors that repayment of the national debt — the outcome of the financial crisis of 2007-08 reaching 181.1% of GDP in 2018 — is perpetually substantiated by incoming …

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More obstacles lifted for Hellinikon investment project

More obstacles lying before the Hellinikon investment project have been lifted with two decisions by the influential Central Archaeological Council (KAS) and the Central Council of Contemporary Monuments. On Wednesday and Thursday, the councils approved a change in a SYRIZA ministerial decision thus loosening the previous strict licensing procedures. Specifically, …

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Greece releases set of guidelines for cannabis cultivation

Greece’s Agricultural Development and Food Ministry released a set of guidelines for the cultivation of cannabis for industrial and medical use. The framework emerged after consultation with the Justice Ministry and includes stricter penalties for improper documentation and production. According to the Ministry statement, the framework allows: – The import …

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Greece expands range of investments for Golden Visa Program

A new draft bill prepared by the Economy and Development ministry will add intangible investments into Greece’s Golden Visa program for third country, that is non-EU, citizens. The draft law on harmonising Greek legislation with an EU directive on commercial secrecy includes a regulation aiming to improve and to add …

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New Heraklio Airport on Crete to cost €1.5bn, create 1,500 jobs

Indian infrastructure company GMR Airports Limited, along with its Greek partner Terna Group, will develop the new international airport of Heraklion in Kastelli, Crete, after Greek Transportation & Infrastructure Minister Christsos Spirtzis signed the concession agreement. On Friday, the minister and the consortium signed a concession agreement for design, construction, …

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Ministries to review building permissions of multi-story hotels close to Acropolis

The residents’ strong reactions to the construction of two multi-story hotel buildings at the foot of Acropolis forced two Greek Culture Ministry to take action and review the building permissions of these two investment projects. The Ministries of Culture & Sport and Environment & Energy will cooperate in order to …

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Juncker Plan funds more major transport and environment projects in Greece

Three major transport and environment project are to be inaugurated this week with EU funds totaling 1.3 billion euros, the European Commission said on Wednesday. In addition, 121 million euros investment has been adopted for the motorway connecting the Aktio Peninsula with the Ionian highway . The Commission said in …

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