Greece has announced a €1 billion development plan. The plan aims to strengthen small and medium-sized businesses. It will also cut red tape and attract new investment.
Development Minister Takis Theodorikakos revealed the initiative. It will focus on manufacturing, innovation, and regional development. Special provisions will be made for economically weaker areas.
Three initial programs will target industrial production. They will also target large-scale investments and underperforming regions. The goal is to help reestablish these regions on Greece's production map.
A new independent authority will oversee market operations. It will also oversee consumer protections. A new national quality policy law will be submitted to Parliament soon.