Measures to boost battered enterprises
The Economy Ministry is exploring the option of tacking onto a new bill on investment incentives provisions that will allow for the creation of special funds to bolster certain sectors of economic activity and the participation of investors in enterprises that are about to be declared bankrupt but could still have some prospect of achieving sustainability.
These ideas will likely be included in the draft law along with provisions that have already been made public, such as tax exemptions, grants and leasing subsidies.
Lois Lambrinidis, the general secretary for Private and Strategic Investments, began consultations a month ago with the parties concerned to hear their proposals and observations so that the text of the new draft law is ready in early fall.
This is not an easy procedure, as the ministry has to resolve the conundrum of bolstering enterprises to create some economic growth at a time when the state does not have the necessary financial resources.
At the same time, the Economy Ministry has to find approximately 5.6 billion euros to fund some 6,300 investment plans that remain outstanding and to accelerate monitoring procedures, which currently take just under two-and-a-half years on average to carry out.