A meeting was convened on 29 October,  2001 by the Minister of Commerce, Industry and Tourism Mr. Nicos Rolandis in order to review the progress made in the reformation process of the New Industrial Policy she was essential after the introduction on 30 April,  2001 of the Law on the Control of State Aid.  The meeting was attended by the Permanent Secretary,  Directors and Senior Officers of the Ministry of Commerce, Industry and Tourism and other Government officials.

Almost all the schemes and incentives of the New Industrial Policy that is in effect since 1999 are affected by the introduction of the above legislation and based on its provisions have been submitted to the Office of Commissioner for Public Aid for the relevant approval by the Commissioner.

Until today the Commissioner has examined a number of schemes and has informed the Ministry the following:

1)     The schemes that relate to High Technology, as these have now been amended,  seem to be according to the relevant legislation and the decision for their approval will be given very soon.

2)     The Scheme for a state grant for upgrading the manufacturing sector is approved as this has been amended and will be in effect as from 1/1/2002

3)     The new scheme for the relocation of cottage industry - workshops to areas set up by municipal authorities is approved and will be in effect as from 1/1/2002.

4)     Τhe incentive scheme for the export promotion will have to be as from this year.

It is clarified that all the schemes of the New Industrial Policy  that were in effect on the date of the introduction of the legislation (30/4/2001), can continue to be in effect until 30/4/2003, even if these will be found by the Commissioner for Public Aid as not complying with the legislation.

The Ministry of Commerce, Industry and Tourism will soon pursue further to the Cabinet of Ministers the schemes that were approved by the Commissioner while at the same time is working on the reformation of other schemes that are obvious that they do not abide with the legislation on the control of public aid.

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