The first programmes of the new investment law, handing out 650 million euro in subsidies and 1.5 billion euro in tax relief, will be announced on March 15, the Regional Development and Competitiveness Ministry announced on Sunday.

Total funds available for investment under the same law will reach four billion in the year, it added.

The above figures were given by Regional Development and Competitiveness Minister Mihalis Chrysohoidis during a speech in Lamia on Saturday.

The minister said that May would see the launch of programmes such as an 'Enterprise Fund' that would give up to 1.2 billion euro for small and medium-sized businesses, the ENALIO fund for fisheries with 35 millione euro, and+ the Agricultural Enterprise Fund with an initial budget of 150 millon euro.

Also within the month, the ministry intends to unveil an action plan for making Greece friendlier to business and application of a law allowing the foundation of a company in a single day would begin in two months.