ECONOMY

Gov’t says it is doing its best to facilitate entrepreneurship

The government is preparing a new, «anti-bureaucratic» system for the licensing of commercial firms and considering changes in the minimum capital required for the setting up of all enterprises, Development Minister Dimitris Sioufas said yesterday. Speaking at a meeting of the Association of Societes Anonymes and Limited Liability Companies, Sioufas noted Greek firms are facing serious difficulties in the era of globalization, especially due to rising oil prices and red tape. «We are all living on borrowed money,» he said, adding that the economic model that is responsible for this situation has collapsed and that the government is doing its best to deal with the situation. Sioufas said the ministry is now accepting applications from companies wishing to avail themselves of the investment incentives in development law 3299/2004. The association’s chairman, Theodoros Sarantopoulos, said the new investment incentives law is a good starting point but needs amendments and improvements. Applications can be submitted as follows: at the Industrial Investment Directorate of the Development Ministry, at the Hellenic Center for Investment (ELKE), at the Private Investment Directorate of the Economy and Finance Ministry, and at the Planning and Development Directorates of regional authorities. Applicants may obtain all relevant details and forms at www.mnec.gr and www.ypan.gr or call 210.333.2252, 210.333.2399. Separately, Deputy Minister for Development Yiannis Papathanassiou said that all representative agencies concerned will have to submit by the end of the month their proposals on the bill for the creation of a General Commercial Register (GCR). «The GCR’s aim is to facilitate company publicity, which will particularly assist transaction security and transparency, creating a system that renders easier the start and the exercise of business activity.» The GCR must include all traders, trading companies, groups or cooperatives and branches or agents of foreign firms.