The new incentive regime for Foreign Direct Investments (FDI) can constitute a tool for attracting high value-added investments, provided it is accompanied by fast but safeguarded control mechanisms, realistic eligible cost limits, and the immediate issuance of the necessary ministerial decisions. This is the main position of the Economic Chamber of Greece (ECG), which describes the legislative initiative as a step of strategic importance for the country.
As the ECG points out, the bill rightly aims at creating a special, coherent, and functional framework for FDI in critical sectors of the economy, addressing the longstanding obstacles that have limited the inflow of foreign capital. Of pivotal importance, however, is the full compatibility of the new state aid regime with the rules of the European Commission, as any deviation entails the risk of future appeals or an obligation to return aid.
The positions of the ECG were presented in Parliament by its president, Konstantinos Kollias, during the discussion of the bill “New incentives for Foreign Direct Investments, restructuring of the Directorate of Foreign Direct Investments and other provisions”.
Strong and fast evaluation and control mechanism
Regarding the restructuring of the Directorate of Foreign Direct Investments (article 31) and the establishment of the new FDI Incentives Department, which will centrally undertake the evaluation, approval, monitoring, and certification of the plans, Mr. Kollias stressed that the new unit must be staffed with experienced personnel, so that it can function as a real accelerator of investments. The control mechanism must be sufficiently fast so that investments do not “freeze”, but also adequately safeguarded against phenomena of fraud or fictitious investments.
Of particular importance for the ECG is its participation in the three-member Committee provided for in article 20, which will carry out sample-based checks on at least 30% of investment plans annually, for the certification of their completion and the start of their productive operation.
Revision of eligible cost limits
The ECG raised an issue regarding the eligible cost limits of article 12:
Minimum limit of 10 million euros: It risks excluding research and technological investments of high added value, which by their nature have lower fixed-asset intensity.
Maximum limit of 50 million euros: It is considered low for attracting flagship investments in strategic sectors, such as heavy industry and large-scale logistics, limiting the international competitiveness of the regime.
Investment Observatory and immediate issuance of ministerial decisions
The Economic Chamber of Greece proposed the creation of an Investment Observatory, which will assess the economic, social, and environmental impacts of development laws, strategic investments, and the new framework for FDI. At the same time, it underlined that the immediate issuance of the 12 ministerial decisions provided for in article 32 constitutes a critical prerequisite for the smooth and delay-free implementation of the law.
Relief for accountants and businesses: the extension for GAs and GEMI
The ECG assesses positively the provision of article 40, by which the deadline for holding the General Assemblies of SAs, Ltds, and PCOs is moved from September 10 to October 10, 2026, while the deadline for posting financial statements to GEMI is extended until October 31, 2026. The additional time gives relief to accountants-tax technicians and business administrations and prevents the imposition of the new, particularly strict fines for late submission provided for by the new operating framework of GEMI.
Concluding his statement, the president of the ECG said: “The Economic Chamber of Greece takes a positive position on the bill for the improvement of the investment environment and the attraction of foreign capital. As always, however, its success will be judged in practice, through its proper and effective implementation”.