Greece sets tourism investment as priority

The Greek government has set it as a priority to attract tourism investment to Greece and boost business activity in the sector that is free from red tape, Tourism Minister Fani Palli-Petralia said on Tuesday.

"The maturity time for investments in Greece will converge with the European average, which is about 18 months, and that will happen with respect for the law and with full transparency," Palli-Petralia told a news conference.

"Already we have removed barriers blocking investment efforts that are linked to the development law and the (European Union) Third Community Support Framework," she noted.

"Concerning the investment law, five-star hotels will be financed throughout Greece, except in Athens and (the port city of) Thessaloniki," she added.

The use of funding from the Fourth Community Support Framework was being planned in order to meet the needs of the tourism market. Immediate plans included the establishment of a reception center for investment proposals and business plans at the Tourism Ministry.

The government has forged a long-term policy to tone up demand in the Greek tourism product, strengthen supply, and improve services.

"This long-term policy means that the Tourism Ministry will be the permanent home of sector policy, regardless of government, and, more importantly, regardless of political leaders," Palli-Petralia said.

Last Tuesday, Greek Prime Minister Costas Karamanlis said the government will take measures to upgrade administrative support for tourism development.

He pointed out that of about 480 investment plans formulated in the tourism sector, more than half have been approved with a budget that exceeds 560 million euros (711 million U.S. dollars).

Source: Xinhua