What is the purpose of Development Law 4887/2022?
The goal is to promote the economic development of the country by granting incentives to companies in specific activities and sectors, in order to achieve the digital and technological transformation of businesses, the green transition, the creation of economies of scale, the support of innovative investments and the introduction of new technologies of "Industry 4.0", robotics and artificial intelligence, the strengthening of employment with specialized personnel, the support of new entrepreneurship, the strengthening of less favoured areas of the country and areas included in the Just Development Transition Plan (JDP), the further strengthening of tourism and the improvement of competitiveness in high value-added sectors.
To achieve these objectives, new arrangements are introduced to speed up all procedures for the evaluation, approval, control, and certification of investment projects subject to the schemes of this law.