For Greece tourism investment, simplification of fast track procedures implemented

Published on : Wednesday, February 14, 2018

Greece tourismThe Federation of Hellenic Enterprises (SEV) would like further simplification of the laws of licensing procedures in terms of overall investments particularly to the regions with lesser income and smaller investments might be included in the fast track licensing procedures, as ANA reports in the following article: SEV explained that a fast track procedure was created in a way to speed up licensing procedures related to investments of strategic importance for the reason of their size, number of job positions, etc. As per the new legislation, authorities get a 45-day time limit to issue licenses related to investment projects. As per the findings declared by Enterprise Greece, the investment number included or currently underway totals 13. They are majorly from tourism and renewable energy sectors. SEV mentioned the examples from other countries that have the chance to perk up Greece’s licensing efficiency.

Under the current framework, investments in 11 sectors are considered strategic (industry, energy, tourism, transport/communication, health services, waste management, high-technology and innovation, education, culture, primary sector-agricultural product processing and services) until they complete one of these preconditions at the minimum: have an investment cost of over 100 million euros, have an investment cost of over 15 million euros related to the industry, or 3.0 million euros for investment in Jessica Fund framework, have an investment cost of over 40 million euros and thereby generating 120 new jobs, along with 150 sustainable job positions or protecting a minimum of 600 job positions and lastly have an investment cost of over 5.0 million euros for investments on Business Parks.

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