A total of 141 investment projects that were never implemented will be removed from the 2016 Development Law, following a review by the Ministry of Development in cooperation with the General Secretariat for Private Investments.
As a result, more than 323 million euros in state aid approved for the investment projects that were not completed will be recovered.
Of the 141 investment projects, 119 are in the tourism sector, specifically hotels; 12 are in manufacturing and 10 in services.
A total of 572 investment projects under the 2016 Law, worth 1.59 billion euros, are under scrutiny by the General Secretariat for Private Investments.
The aid they have received in the form of grants and tax exemptions exceeds 575.8 million euros.
A total of 150 million euros has already been returned to the public coffers from 191 investment projects under the 2004 Development Law, for which revocation decisions were issued.
The process of settling the cases continues, with the aim of completing the review of all investment files covered by this law.
The Minister of Development, Takis Theodorikakos, made the following statement:
“All citizens demand transparency and sound management of public finances.
We pledged to bring order, transparency and effectiveness to investment projects under earlier Development Laws which, despite receiving public money, were never completed.
And that is now becoming a reality.
So far, we have recovered 150 million euros, returned to state coffers, from 191 investment projects under the Development Law whose approvals were revoked.
We are continuing the review, file by file, until we recover the last euro.
The General Secretariat for Private Investments at the Ministry of Development is reviewing 572 investments under the 2016 Law.
The process of removing 141 of them from the scheme is already under way, so that we can recover another 323 million euros.
This money belongs to all Greek citizens. We want it to be put to good use in genuine productive investments that create new, better-paid jobs.
At the Ministry of Development, we support sound entrepreneurship, with credibility, responsibility and rules that apply to everyone.”.