Greece allocates 150 million euros for defense industry investments

Greece is launching a new investment scheme aimed at strengthening its defense industry, allocating 150 million euros for strategic investments. The initiative, announced by the Minister of Development Takis Theodorikakos, falls under the framework of the Development Law and is managed by the General Secretariat of Private Investments.

The scheme, titled 'Defense of the Development Law,' focuses on dual-use investments in critical sectors. These include the production of weapons, ammunition, motorized vehicles, aircraft, and combat vehicles. The goal is to enhance integrated investment plans within these areas, bolstering the nation's defense capabilities.

Eligible investments can receive incentives such as enhanced tax depreciation. This allows for a 100% increased deduction of eligible expenses, which can be utilized over 15 tax years. Additionally, the program promises expedited licensing for projects, aiming to streamline the investment process. The distribution of aid will adhere to the Regional Aid Map, ensuring equitable development across different regions.

Interested parties can submit their proposals between August 31, 2026, and November 30, 2026. Further details and information are available on the website of the General Secretariat of Private Investments. This move signifies Greece's commitment to modernizing its defense sector and attracting investment in a strategically important industry.