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Effective Recovery Fund Distribution Key to Greek SME Expansion

Athens Chamber of Commerce and Industry (ACCI) President Ioannis Bratakos and Tourism Minister Vassilis Kikilias

The effective distribution of EU and national recovery funds that will provide a healthy framework of growth for Greece’s small and medium-sized enterprises topped the agenda of talks between Tourism Minister Vassilis Kikilias and Athens Chamber of Commerce and Industry (ACCI) President Ioannis Bratakos this week.

Further developing the tourist product was also discussed.

“The National Recovery Plan creates a wide range of opportunities for the implementation of significant public and private investments that will contribute to the diversification of the Greek tourism product, showcase the country’s comparative advantages, reduce seasonality, and increase revenues from tourism,” said Kikilias.

Bratakos stressed the importance of “rationally” channeling funds into all areas of interest, taking into account the new development law in order to improve the conditions of operations for SMEs.

“The high dependence of island businesses on seasonal tourists coming from abroad is a general source of risk. The biggest problem is faced by small and medium-sized tourism enterprises which until now were unable to participate in [programs supporting] investments in infrastructure and services upgrades,” Bratakos said.

Photo source: Athens Chamber of Commerce and Industry (

The chamber’s president went on to add that investments under the country’s new development law can drastically change the field of operations.

“The emphasis placed on both traditional and alternative tourism will provide space for the creation, expansion and development of more businesses. Combined with fast-track procedures and the tax exemption regime it provides, it creates a new landscape of opportunities for small and medium-sized businesses to thrive,” he added.

According to the Chamber, the tourism ministry has already approved technical reports valued at 320,000,000 euros from the recovery fund.

Concluding, Kikilias referred to the importance of strategic partnerships between public and private sectors, which he said will contribute to the upgrade of Greek entrepreneurship.

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