2023 is undoubtedly a year that will test the economy's endurance due to rapidly increasing inflation and rising prices of raw materials. The above conditions have significantly increased production costs, something that is expected to continue as long as the war in Ukraine lasts.
Even so, 2023 is expected to be a favorable year for investment. In the immediate future, important financial programs are expected to be announced, through the new National Strategic Reference Framework (NSRF), which will be addressed to all sectors of the economy with an emphasis on energy saving and digital transformation. Important actions of the previous programming period, concerning the trade and tourism sectors, are expected to be repeated. In addition, the Development Law 4887/2022 continues to finance large and small investment projects and the same is expected for the new year.
More specifically, some of the actions expected in 2023 are the following:
- Digital Transformation of SMEs: The specific program consists of three actions aimed at the technological upgrading of businesses and the integration of new modern "Industry 4.0" technologies into the production process. The announcement is expected immediately.
- Green Transition of SMEs: Program which includes two actions and its purpose is to encourage investment projects aimed at the utilization and development of modern technologies, at the upgrading of manufactured products, rewarding actions that utilize modern technologies, infrastructures and best practices in matters of energy upgrading, circular economy and adoption of clean energy sources. The program is in the pre-publication phase and its announcement is expected in a short period of time.
- Research – Innovate 2021-2027: The specific action is expected within the first quarter of 2023. The main objective is to connect research and innovation with entrepreneurship and to strengthen the competitiveness, productivity and extroversion of businesses towards international markets, with the aim of transitioning to quality innovative entrepreneurship and increasing domestic value added.
- Development Law 4887/2022 – Strengthening tourism investments: The second round of submissions for the tourism support regime of the Development Law is expected to be announced in the second quarter of the year, but there is no specific date.
- Development Law 4887/2022 – Alternative forms of tourism: The first round of submissions for the specific development regime is expected within the year.
- Development Law 4887/2022 – Manufacturing & Supply Chain: It is one of the most important aid regimes, investment projects in the Manufacturing and Supply Chain sector, and the start of the second round of submissions is expected.
- Development Law 4887/2022 – Agri-food: One of the most important support tools for the entire primary sector and the only aid regime of the Development Law to which individual businesses are included. The start of the second round of submissions is expected within the year.
Certainly the planning of all the above will be affected by the developments and as history has taught us some programs will be moved towards the end of the year. The most important element, however, remains unchanged and is the existence of a wide range of financing tools, mainly the new NSRF and the Development Law, which support investment plans that include various types of expenditure.
For more information, request a telephone appointment by clicking the button below, and a specialized economist from our company will contact you.
2023: The Year of Investments
16 February 2023
ΙΩΝΙΚΗ Finance
2023 is undoubtedly a year that will test the economy's endurance due to rapidly increasing inflation and rising prices of raw materials. The above conditions have significantly increased production costs, something that is expected to continue as long as the war in Ukraine lasts.
Even so, 2023 is expected to be a favorable year for investment. In the immediate future, important financial programs are expected to be announced, through the new National Strategic Reference Framework (NSRF), which will be addressed to all sectors of the economy with an emphasis on energy saving and digital transformation. Important actions of the previous programming period, concerning the trade and tourism sectors, are expected to be repeated. In addition, the Development Law 4887/2022 continues to finance large and small investment projects and the same is expected for the new year.
More specifically, some of the actions expected in 2023 are the following:
- Digital Transformation of SMEs: The specific program consists of three actions aimed at the technological upgrading of businesses and the integration of new modern "Industry 4.0" technologies into the production process. The announcement is expected immediately.
- Green Transition of SMEs: Program which includes two actions and its purpose is to encourage investment projects aimed at the utilization and development of modern technologies, at the upgrading of manufactured products, rewarding actions that utilize modern technologies, infrastructures and best practices in matters of energy upgrading, circular economy and adoption of clean energy sources. The program is in the pre-publication phase and its announcement is expected in a short period of time.
- Research – Innovate 2021-2027: The specific action is expected within the first quarter of 2023. The main objective is to connect research and innovation with entrepreneurship and to strengthen the competitiveness, productivity and extroversion of businesses towards international markets, with the aim of transitioning to quality innovative entrepreneurship and increasing domestic value added.
- Development Law 4887/2022 – Strengthening tourism investments: The second round of submissions for the tourism support regime of the Development Law is expected to be announced in the second quarter of the year, but there is no specific date.
- Development Law 4887/2022 – Alternative forms of tourism: The first round of submissions for the specific development regime is expected within the year.
- Development Law 4887/2022 – Manufacturing & Supply Chain: It is one of the most important aid regimes, investment projects in the Manufacturing and Supply Chain sector, and the start of the second round of submissions is expected.
- Development Law 4887/2022 – Agri-food: One of the most important support tools for the entire primary sector and the only aid regime of the Development Law to which individual businesses are included. The start of the second round of submissions is expected within the year.
Certainly the planning of all the above will be affected by the developments and as history has taught us some programs will be moved towards the end of the year. The most important element, however, remains unchanged and is the existence of a wide range of financing tools, mainly the new NSRF and the Development Law, which support investment plans that include various types of expenditure.
For more information, request a telephone appointment by clicking the button below, and a specialized economist from our company will contact you.
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