Greece passes ambitious Law poised to re-flourish business ecosystems Commentary by Kanellos Klamaris and Nefeli Aikaterini Pontou
Law 4982/2022 on Business Parks codifies relevant legislation and provides for incentives for the establishment of Business Parks
The Hellenic Parliament recently passed a new law (Law 4982/2022) pertaining to the establishment, development, management, and operation of Business Parks. The establishment of Business Parks leads to the structural concentration of services and infrastructure and, thus, fosters growth by supporting businesses and attracting investment, particularly on a regional level. The goal of Law 4982/2022 is to create business ecosystems that will enhance industrial production, encourage green and digital entrepreneurship, and ultimately, further improve the competitiveness of the Greek economy. Recognizing the contribution Business Parks may have in boosting even more the Greek economy, Law 4982/2022 contains many incentives for the establishment of Business Parks. According to the Autumn 2022 Economic Forecast of the European Commission, Greek economy is expected to grow by 6% in 2022, by 1% in 2023 and by 2% in 2024, thus boldly surpassing the EU’ economy growth forecast (3.3% for 2022, 0.3% for 2023 and 1.6% for 2024).