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EUROPE IS TRANSITIONING
For decades, specific developments have taken place in the region. The European Green Deal outlines the roadmap towards a new developmental policy for Europe. In this context, the Just Transition Mechanism (JTM) was established, which will complement the substantial contribution of the EU budget with the support of all resources directly related to the transition and cohesion, such as the European Regional Development Fund (ERDF) and the European Social Fund+ (ESF+). According to the Regulation for the establishment of the Just Transition Fund, the JTM consists of three pillars:
(1) the Just Transition Fund (JTF), which will primarily be used for providing grants
(2) a special framework under InvestEU, which will focus on strengthening private investments, aiming to mobilize additional private capital
(3) the special loan facility for the public sector from the EIB group to leverage public funding in transition regions.
In this context, Greece has created the distinct Just Developmental Transition Program. In summary, the Just Developmental Transition Program aims at sustainable and environmentally-friendly development for the affected areas of Western Macedonia and the Municipality of Megalopolis, as well as the island regions of the Northern and Southern Aegean and Crete. The total budget of the Program amounts to 1,617,716,955 euros.
WESTERN MACEDONIA IN TRANSITION
The region of Western Macedonia is at a critical stage of transforming its economy. For decades, the region's economy developed mainly around lignite mining and electricity generation. The overall development of the Greek economy relied on this activity. In certain areas of the region, the fur industry is particularly developed. Local businesses in this sector are recognized on a global level. In recent years, these activities have been in significant and likely irreversible decline.
The Just Developmental Transition Program includes particularly attractive incentives for making investments, such as high subsidies for investment plans, financing with special loans under favorable terms, and land grants with developed infrastructure and, to some extent, organized bureaucracy (land use permits, environmental, archaeological, etc.).
THE SKELETON OF WESTERN MACEDONIA
The region has resources that have remained largely underutilized due to the one-dimensional development centered around lignite mining and the operation of thermoelectric power plants. The core of the Just Transition Program is the utilization of these resources and the transition of the economy and society towards a new productive model
Below is a brief overview of the key economic characteristics of Western Macedonia. At the same time, sectors with significant investment interest are highlighted, although of course, the potential of the region is not exhausted in this text.
Στη Δυτική Μακεδονία ευδοκιμούν μοναδικής ποιότητας αγροτικά προϊόντα. Η κατάλληλη στρατηγική μάρκετινγκ μπορεί να δώσει τεράστιες εμπορικές δυνατότητες στην παγκόσμια αγορά:
We know Western Macedonia Well
Our Role
At KOEM, we have a deep understanding of the social and economic parameters of the region. Our company has long-term experience and well-established relationships with local authorities, businesses, and organizations.
At first glance, the network of funding sources and the bureaucracy may seem chaotic. Our job is to focus on the investment incentives and opportunities that match your choices, clarifying the landscape.
Why collaborate with KOEM in Western Macedonia?
It is the right time to explore the opportunities offered by Western Macedonia. Contact us to discuss how we can collaborate and make your plans a reality!
With respect,
Dimitris Koemtzopoulos, Co-founder – Koem Consulting
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