Five government initiatives that respond to the challenges of competitiveness and innovation by Letta and Draghi reports were presented by the Deputy Prime Minister. Kostis Hatzidakis Speaking at a related event organized by the Bank of Greece today in Athens (BCT) and the European Investment Bank Group.
However, as Mr Hatzidakis noted, the national effort is not only enough for Greece but for any European state. “Coordinated actions and initiatives are also needed at the EU level, to deepen the common market, stimulate innovative capacity and competitiveness, alleviating strategic dependencies,” he said at the same event (EIB and EIB).
The Deputy Prime Minister said that the two reports announced last year coincide with three reflections on the position of innovation in Europe today, and the connection to competitiveness.
One of them is Europe’s lag against the US and China in innovation and productive exploitation of research. That is why it is proposed to create a Union of Research and Innovation, with a single strategy for innovation to act as a real lever for growth and competitiveness.
It is also the lack of large -scale, coordinated funding for the balanced development of EU innovation. “That is why the Capital Markets Union need to be promoted – so that European innovative businesses do not need to move their headquarters to the US because they find it difficult to find funding – and complete the banking union.”
At the same time, there is a need to redesign the regulatory environment so that businesses can grow and innovate.
As Mr Hatzidakis said, the government has already promoted a number of entrepreneurship and innovation policies before these challenges and continues with five priorities that are:
1.The new framework for business innovation and business transformations. “One of the most modern in the EU and promoted incentives to enhance research and innovation in businesses, and for corporate transformations. With incentives such as over 315% of scientific and technological research costs, reduced taxation for businesses operating commercial patents, tax incentives for business angels investing in startups. Incentives facing the ” small -scale ” problems and high risk of corporate R&D activities. These are not theories and promises, it is a passed law that has been in place for six months, “he noted.
2. A modern funding ecosystem for entrepreneurship and innovation. By enhancing competition in the banking system and upgrading the operation of the stock market and the capital market. With further development of the ecosystem of business capital entries and business angels. With the shift of the NSRF and the Recovery Fund in innovation, with the new development law and its tools, in conjunction with the Hellenic Development Bank and the newly established Hellenic Infrastructure and Innovation Fund that will soon start operating in the context of the superiority. Mr Hatzidakis also reminded the recently passed law on the Greek Stock Exchange, which is ongoing.
3. The link between research and innovation with entrepreneurship in critical areas. “The incentives to support the utilization of research results for the development of innovative products and services, specialized funding tools, as well as iconic interventions such as the operation of our country of the first non -state universities, shape significant knowledge and innovation potential. In this regard, we want further disciplines to develop, utilizing our high quality scientific potential. Like artificial intelligence, through the development of a complete regulatory framework for exploiting it and business level, while protecting rights and freedoms, “the deputy prime minister said.
4. Improving the business environment to encourage investment, following efforts that have begun in 2019. “We are completing the National Land Registry by the end of the year, to develop local and special planning plans. In accelerating the award of justice, which is already beginning to become visible. And in the coordinated effort to further reduce administrative weight for businesses and investments by 25%. And at the same time, with the modernization of tax and labor law, and the reduction of taxes and contributions. “
5. Strengthening the exports and extroversion of Greek businesses. “With an integrated export strategy, which will be presented soon. By implementing targeted funding tools for export companies and businesses participating in international trade fairs. By simplifying and digitizing customs processes, as well as investigating the possibility of tax incentives targeted in areas and products with high demand in international markets. “
“These five priority fields and the government’s planning are the three common concerns of the Draghi and Letta reports,” Mr Hatzidakis stressed.
Referring in particular to the role of the European Investment Bank, it welcomed the Techeu initiative it plans to provide funding to innovative businesses and high -risk investment projects in critical sectors. “Initiative from which we expect a lot,” he noted. He also underlined the EIB’s timeless support for Greece, which has allocated 14.5 billion euros in our country for the last five years mainly for funding innovative small and medium -sized enterprises, energy infrastructure and civil protection projects.
“We know,” the Deputy Prime Minister concluded, “that innovation and competitiveness are fundamental prerequisites for a strong economy. The government is in practice investing in these two axes, focusing on a dynamic private sector that innovates and is opening internationally. “
“We know that for Greece, shipping and tourism is a strategic advantage, but we deeply believe that innovation, new technologies, new talented engineers, Startup Community in Greece can be an important strategic advantage, and we are trying to do so, both at the institutional level and at the institutional level. Innovation, we support the younger generation, we support the economy we support the country’s prospects. “