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Tag Archives: investment

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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Eldorado Gold demands €750mn compensation from Greece for Skouries delays

Hellas Gold, the Greek subsidiary of Canadian Eldorado Gold, has filed an Application of Payment demanding a compensation of 750 million euros from the Greek state for delays in its investment project in Skouries. Prompt was the reaction by the Greek Energy Ministry that said Skouries was only one of …

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Greece needs a stable taxation system, say Greek-American businessmen

Taxation of American companies in Greece is not as major an issue as the lack of a stable taxation system, Greek-American business managers told Deputy Foreign Minister Terens Quick at a meeting in Thessaloniki on Friday. The meeting was held in the context of the 83rd Thessaloniki International Fair (TIF), …

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Greece tops ranking of countries profited by Juncker’s Investment Plan

Greece tops the ranking of countries that have received investment by the European Fund of Strategic Investment (EFSI) relative to GDP. According to a press release issued by the European Commission,  in the context of the famous Juncker Plan, Greece has received 2.7 billion euros from the EFSI that is …

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Tax system and bureaucracy the biggest obstacles for foreign investment in Greece, survey shows

Sixty percent of CEOs of multinational companies operating in Greece expect that the country’s image as investors’ destination will improve in the next years. According to a survey conducted by Metron Analysis, 83% of the respondents said the taxation was the biggest obstacle for investing in Greece. The survey was …

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Greece kicks off a $3.6bn program for renewable energy

Greece has come leaps and bounds from the economic crises that blighted it earlier this century. But as the country emerges from a previously austere bail-out economy, it seeks to re-position itself. In particular, funding is being allocated to renewable energy to draw in new investment from intrigued international investors. …

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London fund eyes up to €250mln investment for long-elusive seaplane network in Greece

Petrichor Capital Partners of London announced this week that it is considering an investment of up to 250 million euros in Greece over the next two years in order to develop a seaplane network, especially towards islands without airports. The specific commercial prospect has for decades been on the “drawing …

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Dutch supermarket chain Spar to return to Greece

The Dutch super market chain Spar will apparently return to the Greek market year through its participation in a consortium with local retailer Asteras, a year after the former ended its agreement with the Veropoulos group. The latter, in fact, sold its Greece operation to Metro S.A., but retained units …

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US Fund manager predicts investors predicts investors to pour billions into Greek economy once Mitsotakis is elected

Superstar hedge fund manager Kyle Bass predicts investors are getting ready to pour billion into Greek economy once New Democracy leader, neoliberal Kyriakos Mitsotakis, takes the premiership from the hands of left-wing Alexis Tsipras. 15 billion euros in bank deposits will return and foreign investors will follow pouring billio9ns of …

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Economic and defense issues high on the agenda of Tsipras-Trump meeting

A couple of hours before Greek prime Minister Alexis Tsipras arrives at the White House, the administration of US President Donald sent a message: the  US may boost investments in Greece. Economic and defense issues will be high on the agenda at the meeting of the two leaders, investment in …

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