Investment Law and Northern Greece

The new Investment Law came into force a few days ago and will take effect from now and until 31 December 2013.

For the first time in fifteen years, Thessaloniki has been included in an incentive scheme, whereas based on previous laws, only part of the Thessaloniki prefecture enjoyed the existence of capital incentives. In addition, this new law makes provision for higher subsidies to enterprises that are located in industrial areas, a rather positive measure for our member-enterprises that are established in the Thessaloniki Industrial Area, which is perhaps the largest industrial zone in Greece.

Let us acknowledge the positive fact that aid for businesses does exist. This alone constitutes a step forward and an unquestionable reality. However, our next question relates to the aid that has been assigned for the remaining Northern Greek regions. Despite the fact that Eastern Makedonia - Thrace and Epirus fall under the category of the maximum aid ceiling, the minimal difference of 10% compared to other regions negates this positive government decision. Especially with regard to Thrace, we must consider the role that we all wish it to “play” in our future relations with Turkey… The same applies, although with greater intensity, to Epirus, the only region in Greece that is truly cut off from the country’s principal product markets. Lastly, we must not forget Western Makedonia. We all speak of making the region less dependent on the generation of electricity and mining activities. How can this be done? By attracting enterprises that enjoy the same incentives as those established in Boeotia?

Of course we acknowledge the “development difficulties” that exist throughout the country’s regions. I would also like to emphasise that it is not our belief that we should enjoy “special privileges” compared to other Greeks. Nevertheless, we did expect the positive government decisions regarding the region of Northern Greece to include incentives that have a greater “distance” from those in the centre.

However, since I am an optimist, I hope that the disparity that has been established by the new law will soon be rectified. As regards the Ministerial Decision that is to be issued in the forthcoming period and shall concern the additional rate of aid granted to small and medium-sized enterprises, we request that additional aid not be granted to enterprises in the centre and that the maximum rate be spent on the enterprises in our region.

We are aware of the difficulties that lie behind such a decision. However, it is time that we stop thinking about the political cost and start setting sustainable development priorities that enhance social cohesion in the country’s geopolitically sensitive areas.