Development Minister Takis Theodorikakos has told parliament that a new bill overhauling Greece's foreign direct investment framework is central to transforming the economy into a more productive, competitive and resilient model, as lawmakers debated legislation creating fresh incentives for foreign capital.
Speaking before the Parliamentary Committee on Production and Trade, Mr. Theodorikakos said the bill establishes a standalone state-aid regime for investment projects funded by foreign capital, with eligible project costs ranging from €10 million to €50 million — a threshold he said reflects that larger investments carry different characteristics and are treated as strategic investments under separate mechanisms.
Mr. Theodorikakos said foreign direct investment into Greece rose from €3.3 billion in 2018 to €11.5 billion in 2025, and argued Greece should become a connectivity hub between East and West, calling data center development a key precondition for that role.
He credited Greece's existing Development Law with financing 928 investment projects worth a combined €3.1 billion, with €1.5 billion in state support expected to create more than 15,000 jobs, and said evaluation of investment plans now takes 90 days.
He added that more than €300 million has gone toward research centers and technological institutes nationwide, with the government also covering the full budget of Greece's national research funding body, ELIDEK.
Mr. Theodorikakos clarified the program offers tax exemptions and faster licensing rather than direct cash grants, and stressed that Greek taxpayers cannot use the regime to repatriate funds from abroad. He said built-in safeguards, including reviews of certified auditors by ministry officials, aim to limit oversight failures.