ECONOMY

Setting up an enterprise soon to take just one day

Economy Minister Louka Katseli announced yesterday the creation of a one-stop shop for the setup of all kinds of enterprises so as to shorten the procedure required to just one day. In presenting the bill to the council of ministers, Katseli said the new procedure will cut costs by over 70 percent and raise Greece on the global competitiveness chart from the 109th to the 90th position. At present, it takes 15 steps and 38 days to set up an enterprise, which will now become one step in one day, with the help of the General Commerce Register. Speaking earlier yesterday at the American-Hellenic Chamber of Commerce, Katseli revealed that the bill will be tabled in Parliament by June and its clauses will apply three months from the day it becomes law. She added that the change in the legal framework regarding investment incentives will shortly go for public consultation.