Ομιλία του Υπουργού Οικονομικών στο Ευρωπαϊκό Εκτιμητικό Συνέδριο της TEGoVA | 21.10.2022

Παρασκευή, 21 Οκτωβρίου 2022

Δελτίο Τύπου

 

Ομιλία του Υπουργού Οικονομικών κ. Χρήστου Σταϊκούρα στο Ευρωπαϊκό Εκτιμητικό Συνέδριο της TEGoVA

 

 

Mr. President of the European Group of Valuers’ Associations,

Mrs. President of the Association of Greek Valuers,

I would like to congratulate the organizers of the European Valuation Conference, taking place – today – in Athens, for bringing together distinguished speakers.

Speakers who will share their expertise and exchange views on an important subject, such as the “Launch of European Plant Machinery and Equipment Valuation Standards – Making Valuation “fit for 55”.

I would also like to thank for the opportunity to express some thoughts in this high-level event, on recent reform initiatives by the Ministry of Finance, which concern the profession of certified valuers.

 

Ladies and Gentlemen,

From the 1970s to the present, the valuation services market has been constantly expanding, as, in addition to classic valuation work, the scope of valuation services provision includes – now – estimations of the value of energy production projects, renewable energy investments and the total value of buildings, including also their energy efficiency.In addition to the above-mentioned, the way of carrying out assessments is also constantly evolving, with the development of new valuation standards. In Greece, the new demand formation conditions, the international development of valuation services in new categories and fields and the application of the principle of professional freedom, established by the relevant provisions of Law 3919/2011, led to the need to open up the profession of the certified valuer and to the parallel abolition of the Body of Sworn-in Valuers of Greece, which was established by the provisions of Law 820/1978.The Registry of Certified Valuers, which was established by the relevant provisions of Law 4152/2013, is monitored by the Directorate of Macroeconomic Policy of the Ministry of Finance, and published on the relevant website.This institutional framework, provided to all those who have the relevant proven experience and hold a valid certification from internationally recognized certification bodies, gives the opportunity to register and stay in the Registry of Certified Valuers.In addition, the obligation was established for the above certified valuers to comply with the European or International recognized valuation standards, as well as the institutionalized Code of Ethics. The current Government, fully acknowledging the importance of valuers’ profession and duties, aiming at strengthening transparency, reliability, and efficient operation, as well as keeping of the Registry of Certified Valuers, modernized the provisions of the above-mentioned law, by introducing to the Parliament a new framework which takes into account the need of further opening of the profession and adapting to the new digital era.Under this framework, which was voted by the Parliament last year – Law 4778/2021 –, the valuation branches were specialized and analyzed, the necessary supporting documents for the registration and stay of certified valuers in the Registry were updated and the certificates accepted were expanded, with the possibility of registering in the Registry of all those who hold a valid certification from a professional valuation organization or a valuation organization that meets the conditions of membership of the TEGoVA.The obligation of certification bodies to apply re-certification procedures was clarified.Finally, the creation of an online electronic platform for the submission of the necessary supporting documents for the registration and stay of certified valuers in the Registry was foreseen and is already in the implementation process. Furthermore, in the context of the state’s general digital transformation, a procedure which is swiftly developing, the Ministry of Finance, in accordance with the relevant provisions of Law 4727/2020, has already registered the Registry of Certified Valuers together with all the accompanying procedures in the National Registry of Procedures (mitos.gov.gr).In this way, homogenized and up-to-date information on how to process all its procedures is provided to all interested parties, individual and legal entities. At this point, I would like to note that since 2013, the year of the first implementation of the law, 748 individuals and 83 legal entities have already been registered in the Registry of Certified Valuers, and are active until now.This market-friendly reform of the legislative framework for the provision of valuation services was one more important step realized under the current Government.From the statistics kept at the Ministry of Finance and published on the relevant website, it is noted that the members of the Registry of Certified Valuers increase, at an annual average rate of 11%, both for individual and legal entities. Ladies and Gentlemen,The reform of the institutional framework of valuation services strengthens the proper functioning of the market and empowers competition, resulting in microeconomic, macroeconomic and fiscal gains for the whole economy.In terms of microeconomics, the utilization of the valuation results in cases of lending, debt repayment and investment risk reduction contributes to the markets’ orderly functioning, while transparency is enhanced and justice procedures are accelerated, in cases where the valuation reports have expert status.In terms of macroeconomics, making transactions taking into account the outcome of the valuation, contributes to the realistic illustration of the economy.In addition, information about changes in real estate market prices indirectly affects the country’s financial policy.Fiscally, the valuation of fixed public assets and the utilization of the result of the assessment in the cases of inventory, acquisition, sale, lease or transfer of their ownership, the determination of the value of the property that is confiscated, auctioned or expropriated, as well as setting the prices of the objective determination system of real estate values, contribute to the correct display and utilization of public assets, more fair taxation and more efficient management, forecasting and display of public finances. In the context of the continuous evolution and development of valuer’s profession, issues concerning the adaptation of valuation standards to the new climate change data are coming to the fore, in order for Europe to become the world’s first climate-neutral continent by 2050, and also make the European Green Deal a reality, which will transform the European Union into a resource-efficient and competitive economy.The European Commission has already adopted a package of proposals to make the EU’s climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels (“FIT FOR 55”).                    The utilization of fixed assets, such as buildings and plots of land, is affected by climate conditions and the opposite.Taking into account the need for soil protection, flood management, water saving, replacing the non-renewable forms of energy by renewable ones, the adaptation of definitions, concepts and methodology of the European Valuation Standards for Installations and Mechanical Equipment to these challenges, contributes to the adjustment of the procedure of making valuations with the relevant EU policies and directives to tackle climate change.This is why I am convinced that this Conference will significantly contribute in meeting the multiple challenges which valuers and Valuation Standards are facing in a complex international environment and during a period of high uncertainty, due to multidimensional crises.I wish all the best for your Conference.

 

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2022-10-21 ΔΤ_Ομιλία_ΥΠΟΙΚ_Ευρωπαϊκό_Εκτιμητικό_Συνέδριο_TEGoVA

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