Useful links & other material

Useful links

  1. Administrative Regions official websites:
  2. Association of Mining Enterprises (SME):
  3. Business reforms in Greece:
  4. Country diagnostics:
  5. De-centralized Administrations of Greece: Ministry of Interior (
  6. Enterprise Greece/Invest & Trade:
  7. European Bank for Reconstruction and Development in Greece:
  8. Greece’s business environment:
  9. Hellenic Federation of Enterprises (SEV):
  10. Hellenic Survey of Geology and Mineral Exploration:
  11. Joint Ministerial Decision (JMD) 171314/2018 in Greek:
  12. Joint Ministerial Decision (JMD) 107017/2006 in Greek:
  13. Joint Ministerial Decision (JMD) 39624/2009 in Greek:
  14. Joint Ministerial Decision (JMD) 1915/2018 in Greek:
  15. Joint Ministerial Decision (JMD) 171311/2018 in Greek:
  16. Joint Ministerial Decision (JMD) 171312/2018 in Greek:
  17. Joint Ministerial Decision (JMD) 71099/2018 in Greek:
  18. Joint Ministerial Decision (JMD) 83371/2018 in Greek:
  19. Joint Ministerial Decision (JMD) 1649/2014 in Greek:
  20. Law 4442/2016 in Greek:
  21. Law 4512/2016 in Greek:
  22. Law 4014/2011 in Greek:
  23. Law 4042/2012 in Greek:
  24. Law 4635/2019 in Greek:
  25. Law 4685/2020 in Greek:
  26. Law 4819/2021 in Greek:
  27. Law 3028/2002 in Greek:
  28. Marble Industry Association of Macedonia – Thrace:
  29. Ministry of Environment and Energy:
  30. Ministry of Culture and Sports:
  31. Ministry of Rural Development and Food:
  32. Ministry of National Defense:
  33. Ministry of Infrastructure and Transport:
  34. Mining and Quarrying Activities’ Regulation (KMLE) in Greek:
  35. Mining Code (MC) in Greek:
  36. Ministerial Decision (MD) 37674/2016 in Greek:
  37. Ministerial Decision (MD) 167563/2013 in Greek:
  38. Ministerial Decision (MD) 176641/2018 in Greek:
  39. Ministerial Decision (MD) 175616/2018 in Greek:
  40. Ministerial Decision (MD) 46294/2013 in Greek:
  41. Ministerial decision (MD) 170225/2014 in Greek:
  42. Ministerial Decision (MD) 24023/2011 in Greek:
  43. National Recovery and Resilience Plan “Greece 2.0:
  44. Notify Business:
  45. Development Plan for the Greek Economy, 2020:
  46. World Mining Data (WMD) reports 2017-2022: World Mining Data – PDF-Files (

Other material

  1. Association of Mining Enterprises (SME) Activity Report 2020 in Greek: Report-of-activities-2020.pdf (
  2. European Commission, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, Legal framework for mineral extraction and permitting procedures for exploration and exploitation in the EU: final report, Publications Office, 2017,
  3. Doing-Business-2020:
  4. Doing-Business-2020, Greece:
  5. Contribution of the extractive sector to the Greek economy (in Greek), IOBE (Foundation for Economic and Industrial Research) 2018: (
  6. Law 4512/2018 in English: pdf (
  7. Mining Code (MC) in English (codified): pdf (
  8. Mining and Quarrying Activity in Greece, YPEN Annual Report 2019:
  9. Mining and Quarrying Activity in Greece, YPEN Annual Report 2020:
  10. MINLEX Greek Country Report (updated in 2019): pdf (
  11. National mineral policy of Greece:
  12. Sectoral study Marble – Granites, ICAP, 2021
  13. Setting-up a company in Greece:

Public areas of interest for development

In 2011, the Deputy Minister of the Ministry of Environment, Energy and Climate Change (presently Ministry of Environment and Energy) set up an ad hoc committee with the mandate to create an inventory and evaluate all Public Mining Sites and Public Areas of Industrial Minerals of the country. As a result, the economic and resource potential of 114 Public Mining Sites and 22 Public Areas of Industrial Minerals were evaluated in detail from 2011 to 2014. The assessment of the overall 136 sites and the prioritization for their development was based on several criteria, on data from multiple reports, the results of the European project Promine and the expert evaluations of the committee members derived from their in-situ visits in selected sites. The final assessment report was delivered in October 2014 and included: An inventory of the 114 Public Mining Sites and of the 22 Public Areas of Industrial Minerals, an evaluation of their reserve and economic potential, their potential for future development and a short list, prioritizing the sites that could be offered for immediate development. Regarding the latter,

  • 23 Public Mining Sites may be offered for immediate development, through the launch of a public, open, and international invitation to tender for the leasing of the Metallic Minerals’ Ownership Right. 11 Sites need to be further surveyed by the State (i.e., HSGME).
  • 9 Public Areas of Industrial Minerals may be offered for immediate development by launching an invitation to tender for their leasing.

Further information on the 23 Public Mining Sites and on the 9 Public Areas of Industrial Minerals may be drawn from the Web GIS Application.

Web GIS Application

Business environment

“Promoting policies that create a business-friendly environment in Greece is pivotal for leveraging foreign and domestic, investments and reinforcing the competitiveness of the Greek economy”. Major areas for improvements and interventions are Setting up, operating, and closing a company, corporate law and directors’ liabilities, Investment licensing, Spatial Planning, Infrastructure Networks & Coastline Affairs, and the Judicial system (Hellenic Federation of Enterprises: (

A snapshot on key issues regarding the performance of Greece’s business environment are presented, based on available information and assessments provided by World Bank (Doing Business reports) and EBRD (The European Bank for Reconstruction and Development).

Doing Business in Greece – Assessments by World Bank

As described at the official World Bank website “Doing Business measures aspects of business regulation affecting small domestic firms located in the largest business city of 190 economies”. Within the framework of World Bank’s annual assessments, 12 areas of business regulation are examined currently. Ten of these areas—starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency—are included in the ease of doing business score and ease of doing business ranking. These indicators participate in the forming of the Overall Ease of Doing Business Score (DB20) and affect the Ranking of the economies. As already said 190 economies are examined by World Bank and the rankings for all are benchmarked to May 2019. Doing Business also measures regulation on employing workers and contracting with the government, which are not included in the ease of doing business score and ranking.

The Doing Business reports of World Bank were issued annually until 2021. World Bank decided to discontinue this activity, with Doing-Business-2020  being the last report issued ( Based on the most recent data and information, key notes concerning weaknesses and strengths of Greece’s business environment ( are summarized herein.

Summary of main findings by World Bank

Ranking of Greece as compared to the 190 economies and the corresponding scores for each topic (scale 0-100) are shown in Picture 4.1-1 and Table 4.1-1, based on the economy profile of Greece (Doing Business 2020) issued by World Bank (

World Bank has identified several reforms achieved by Greece to improve its business environment during the period from 2007 to 2019 ( Major improvements, as based on the annual Doing Business reports (DB2018 – DB2020) correspond to the topic starting a business which Greece made easier by reducing the time to register a company with the commercial registry and removing the requirement to obtain a tax clearance (DB2020) and by creating a unified social security institution (DB2018). Other improvement achieved in the same area concern lowering of registration costs (DB2015), while starting a business was made easier by introducing a simpler form of limited liability company and abolishing the minimum capital requirement for such companies (DB2014). The implementation of an electronic platform that interconnects several government agencies was regarded also as an improvement in starting a business (DB2012). Thus, based on DB2020 report of World Bank, Greece is ranked at the 11th place amongst 190 economies compared on this topic, with a score 96 (scale 0-100) (Picture 4.1-1 and Table 4.1-1).

On the topic protecting minority investors Greece strengthened protection by requiring greater disclosure and an independent review before the approval of related-party transactions as well as greater corporate transparency of executive compensation (DB2020). Greece is ranked at the 37th place amongst 190 economies compared on this topic, with a score 70 (scale 0-100) (Picture 4.1-1 and Table 4.1-1).

On the contrary, based on the World Bank assessments registering property, getting credit, and enforcing contracts, are areas where further improvements and reforms must be implemented. Dealing with construction permits, paying taxes and resolving insolvency also need some attention to improve the business environment of the Country (Picture 4.1-1 and Table 4.1-1).

Picture 4.1-1: Ranking of Greece on Doing Business 2020 topics amongst 190 economies – Scores (0-100)
(Source: World Bank)

Ranking on Doing Business topics – Greece
Starting a Business Dealing with Construction Permits Getting Electricity Registering Property Getting Credit Protecting Minority Investors Paying Taxes Trading across Borders Endorcing Contracts Resolving Insolvency
Topic Scores

Table 4.1-1: Greece – Analysis of Ranking on Doing Business 2020 topics amongst 190 economies and Scores (0-100)
(Source: World Bank)

Starting a Business (rank) 11 Getting Credit (rank) 119 Trading across Borders (rank) 34
Score of starting a business 96,0 Score of getting credit (0-100) 45,0 Score of trading across borders (0-100) 93,7
Procedures (number) 3 Strength of legal rights index (0-12) 2 Time to export
Time (days) 4 Depth of credit information index (0-8) 7 Documentary compliance (hours) 1
Cost (number) 1,5 Credit registry coverage (% of adults) 0,0 Border compliance (hours) 24
Paid-in min. capital (% of income per capita) 0,0 Credit bureau coverage (% of adults) 69,9 Cost to export
Documentary compliance (USD) 30
Dealing with Construction Permits (rank) 86 Protecting Minority Investors (rank) 37 Border compliance (USD) 300
Score of dealing with construction permits (0-100) 69,5 Score of protecting minority investors (0-100) 70,0 Time to export
Procedures (number) 17 Extent of disclosure index (0-10) 9,0 Documentary compliance (hours) 1
Time (days) 180 Extent of director liability index (0-10) 4,0 Border compliance (hours) 1
Cost (% of warehouse value) 1,9 Ease of shareholder suits index (0-10) 5,0 Cost to export
Building quality control index (0-15) 12,0 Extent of shareholder rights index (0-6) 5,0 Documentary compliance (USD) 0
Extent of ownership and control index (0-7) 6,0 Border compliance (USD) 0
Getting Electricity (rank) 40 Extent of corporate transparency index (0-7) 6,0
Score of getting electricity (0-100) 84,7 Enforcing Contracts (rank) 146
Procedures (number) 5 Paying Taxes (rank) 72 Score of enforcing contracts (0-100) 48,1
Time (days) 51 Score of paying taxes (0-100) 77,1 Time (days) 1,711
Cost (% of income per capita) 68,2 Payments (number per year) 8 Cost (% of claim value) 22,4
Reliability of supply and transparency of tariff index (0-8) 7 Time (hours per year) 193 Quality of judicial processes index (0-18) 12,5
Total tax and contribution rate (% of profit) 51,9
Registering Property (rank) 156 Postfiling index (0-100) 76,7 Resolving Insolvency (rank) 72
Score of registering property (0-100) 46,9 Score of resolving insolvency (0-100) 53,1
Procedures (number) 11 Recovery rate (cents on the dollar) 32
Time (days) 26 Time (years) 3,5
Cost (% of property value) 4,8 Cost (% of estate) 9,0
Quality of the land administration index (0-30) 4,5 Outcome (0 as piecemeal sale and 1 as going concern) 0
Strength of insolvency framework index (0-16) 11,5

The business environment of Greece based on EBRD assessment

The EBRD uses country diagnostics as a tool to identify the main obstacles to entrepreneurship and private sector development and to help shape the Bank’s strategic priorities and project selection in new country strategies ( Each diagnostic informs the EBRD’s policy engagement with the authorities in the country. In Greece’s Diagnostic issued by EBRD in 2021 the major advances and drawbacks were identified and are summarized herein.

By early-2020, the Greek economy had been improving steadily for more than two years after a deep, nearly decade-long economic crisis. The coronavirus pandemic abruptly interrupted the recovery, putting the economy back into recession and shifting the focus of the authorities towards short-term crisis-mitigation measures. However, the authorities’ commitment to reform will be crucial in the post-pandemic period. Despite notable progress in many areas including those of public administration, digitalization (especially during the Covid-19 outbreak), and tax collection, further improvements should remain a priority.

In Greece, 99.9 per cent of companies are small and medium size (SMEs), and most SMEs are micro-enterprises, with many firms under-performing, while the number of high growth enterprises is limited. Cost competitiveness has improved during the crisis. Exports of goods (mostly primary products and goods) and services excluding the shipping sector have increased by 66 per cent in real terms since their trough in 2009. Value added products and innovations are needed to increase trade potential. Lack of investment is linked to low levels of productivity and skills, while spending on research and development (R&D) is limited.

Notable progress has been made in governance in recent years. A series of complementary actions, required for the modernization of the public administration, have been completed. The public administration was substantially downsized during the first years of the Greek crisis. However, the state has been operating based on a legal framework which is extensive, complex, fragmented and contradictory. It is noted that the taxation system and framework need improvements to create a more friendly business environment. Attention also should be drawn to the efficiency of the prevailing judicial system. Good progress has been made in developing a Human Resources Management System, including completion of a significant number of digital organigrams and job descriptions. Improvements in digital skills and adoption of new technologies by businesses remain key priorities.

Also, over the last years, Greece has carried out significant reforms in public procurement. These included simplified legislation, use of electronic procurement, a new centralized procurement scheme and the adoption of the National Strategy on public procurement. Since 2016, Law 4412/2016 has transposed the EU Directives on public procurement aiming to codify the existing national provisions on public procurement scattered in various legal texts.

Finally, it should be noted that Greece is well placed to play a leading role in the investment and trade linkages in south-eastern Europe. It occupies a strategic location near the crossroads of Europe, Asia, and Africa. It also shares a land border with Albania, North Macedonia, Bulgaria, and Turkey, and is widely regarded as a gateway to Europe from countries further east and south.

Business opportunities

The information contained herein has a twofold purpose:

  • To illuminate the main characteristics that make up the business environment in Greece based on data and estimates of international bodies such as the World Bank and European Bank for Reconstruction and Development (EBRD) as well as other official bodies of the country such as the Hellenic Federation of Enterprises (SEV) and the Association of Mining Enterprises (SME).
  • To showcase, via a web GIS application, public areas of interest for development to those who contemplate the possibility and opportunity of exploring and developing new mines and quarries in the country.

This chapter of the Guide also includes a section with several links and other reference material that may be useful to those seeking more detailed and specialized information.

Business environment

Public areas of interest for development

Useful links & other material