At the 9th Annual Economic Conference of the Hellenic Business Association, Minister of Development Takis Theodorikakos emphasized the accelerated implementation of Greece’s new productive economic model. This progress is driven by the development law, the strengthening of industrial parks, and upgrades to the infrastructure of research institutes.
Theodorikakos stressed that sustainable growth hinges on robust production and productivity increases, asserting that “a safe and strong Greece is only a productive Greece.” He added, “Strengthening industry and manufacturing, enhancing productivity and competitiveness, and investing in innovation and international outreach are essential for the prosperity and security of our country in a rapidly evolving global landscape.”
The Minister outlined the first three priorities of the new development law—processing industries, border and less-developed areas, and large-scale investments. He noted that applications for the first two schemes closed on October 31, drawing significant market interest with 361 projects totaling €1.5 billion submitted. “The evaluation process will be transparent and completed swiftly within 90 days. The deadline for large investment submissions will close at the end of the year, followed by programs targeting agri-food, export-oriented businesses, and social entrepreneurship,” he said.
On Defence Industry, Industrial Parks, and Energy Costs
Regarding a €150 million investment program for the defence industry, Theodorikakos emphasized the need to align national and European security requirements with investments in Greece’s defence sector, which has strong potential for recovery and growth.
He also highlighted ongoing reforms aimed at simplifying business operations and modernizing industrial parks nationwide. Over the past year, €2.5 billion in investments have been approved in sectors such as defence, shipbuilding and repair, pharmaceuticals, and export-boosting projects—like Metlen’s strategic gallium production investment in Boeotia, which also supports European autonomy.
On the critical issue of energy costs, he acknowledged the struggle at the European level, calling it the “most serious problem for Greek industry, particularly energy-intensive sectors.” He noted his support for adopting the Italian model as a potential solution.
On New Technologies
The Minister announced plans for a special scheme under the Development Law focused on New Technologies and Artificial Intelligence, with a budget of €150 million to support innovative investments in production and SMEs. He also mentioned the Memorandum of Understanding with OpenAI as part of a comprehensive national AI initiative, along with the Greek AI Startup Accelerator program that provides startups with access to AI tools and applications.
Concluding his address, Theodorikakos said, “The great challenge today and moving forward is for Greece to be a country that produces, innovates, and exports. All political forces must contribute to this effort alongside the productive sectors—the creative forces of our nation.”
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