“A robust economy is the strongest defense for our nation,” stated Minister of Development Takis Theodorikakos at the 2nd European Entrepreneurship Conference organized by the Athens Chamber of Tradesmen in partnership with The Economist. The conference’s theme was: “How can Greek SMEs foster innovation, competitiveness, and prosperity amidst a turbulent global economy?”
The minister pointed out that in a time of significant geopolitical changes and shifting competitive landscapes, “the Greece we aspire to is one that produces, exports, and moves forward with assurance.”
During his remarks on the new Development Law, Mr. Theodorikakos described it as a “nationally significant tool” that will catalyze €1 billion in investments over the next two years. This initiative aims to bolster the industrial and primary sectors while providing support to border and economically disadvantaged regions. He also mentioned ongoing efforts to recoup €500 million from the Development Laws of 2004 and 2011, promising a comprehensive public report upon completion of the process.
He highlighted that the vision for sustainable development extends beyond the Development Law, part of a larger national strategy—an extensive development program for all Greeks. With three main components—the Recovery and Resilience Facility, the new NSRF (ESPA), and the National Development Program—over €57 billion in public and private investments are being mobilized to address regional, social, economic, and intra-regional disparities.
Special attention was given to small and medium-sized enterprises (SMEs), which he referred to as “the backbone of the Greek economy.” He stated that the Development Law includes provisions tailored to their specific needs—from internationalization and social entrepreneurship to support for self-employed individuals. He added, “The mechanisms of the Development Law complement the NSRF, allowing SMEs to access various funding sources for their investment strategies.”
Mr. Theodorikakos also discussed reforms aimed at reducing business administrative burdens by 25%, alongside the establishment of a new Independent Authority for Market Supervision and Consumer Protection.
“Sustainable development requires regulation. Recent events in private health insurance have shown that we will act against abusive practices. The market must maintain transparency, trust, and fairness for everyone,” he stated.
He underscored the significance of leveraging innovation and artificial intelligence in the new production model, particularly highlighting the AI Factory “FAROS,” developed in collaboration with leading research institutions. “Just as no one could stop the rise of mobile phones or the internet, no one can halt the advancement of Artificial Intelligence. What’s crucial is to learn how to effectively utilize it—not to fear it. AI will revolutionize production, work methods, and potentially our thought processes. Our responsibility is to embrace the future, not reject it,” he concluded.
In closing, the Minister of Development acknowledged the role of chambers of commerce in the Greek economy and emphasized the need to modernize their operational framework.
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