ECONOMY

Digital tools for investors

Authorities to offer various online information instruments to facilitate investments

digital-tools-for-investors

Some significant steps may have already been taken to simplify investment procedures in Greece, but the single digital map that the Technical Chamber of Greece (TEE) is set to start developing is expected to improve the activities of investors considerably.

The objective of this project is for all zoning and land information to be made available so that investors will know what is allowed and what is not, and what special terms apply in each area.

TEE President Giorgos Stasinos has said that the single digital map will incorporate all the data available from the entire country, as well as information from at least 12 parallel and hitherto unconnected online systems.

The single digital map is expected to be completed within two years from the start of its implementation.

Complementing that project will be “Geoportal,” another project that will offer investors easy access to necessary data: This is a project by Information Society, which works under the surveillance of the Digital Governance Ministry, and will include geological data from the Hellenic Authority for Geological and Mining Research (EAGME). The geological data are essential for the realization of large-scale investments, such as offshore wind farms and large energy, mining, construction and tourism projects etc.

Through Geoportal, all that precious information will become available online, and the tender for the project, estimated at 3.8 million euros, is up for public consultation. It will take an estimated 18 months for the project to be implemented after the contracts are signed.

EAGME will also create a real-time geological map, with data on temperature, pressure, natural disasters etc.

Two more projects, with a total budget of €536 million, will also contribute toward the simplification of investment procedures: They are the digitalization of land register data for the National Cadaster, with the tender for that already under way, and of the archive of town planning authorities, whose tender will be proclaimed by year-end.