The Ministry of the Economy, Competitiveness and Shipping (Υπουργείο Οικονομίας, Ανταγωνιστικότητας και Ναυτιλίας) was created on 7 October 2009 from the break-up of the unified Economy and Finance Ministry (Υπουργείο Οικονομίας και Οικονομικών), and the merger of what had constituted the old National Economy Ministry (Υπουργείο Εθνικής Οικονομίας) with the Ministry of Development (Υπουργείο Ανάπτυξης) and the Mercantile Marine Ministry (Υπουργείο Εμπορικής Ναυτιλίας).
On 7 September 2010 it was renamed the Ministry of Regional Development and Competitiveness (Υπουργείο Περιφερειακής Ανάπτυξης και Ανταγωνιστικότητας) to reflect the impending re-establishment of a separate Ministry of Maritime Affairs, Islands and Fisheries. However, no Presidential Decree was issued to formalize the renaming, and the ministry retained its earlier official name despite the loss of the shipping portfolio on 30 September. After the reincorporation of the latter on 27 June 2011, it was renamed the Ministry of Development, Competitiveness and Shipping (Υπουργείο Ανάπτυξης, Ανταγωνιστικότητας και Ναυτιλίας). On 21 June 2012, it was split again from the Ministry of Shipping and merged instead with the Ministry of Infrastructure, Transport and Networks to become the Ministry of Development, Competitiveness, Infrastructure, Transport and Networks. The merger was reversed following a cabinet reshuffle on 25 June 2013, but following the formation of the Tsipras Cabinet on 27 January 2015 all three ministries were amalgamated into the Ministry of Economy, Infrastructure, Shipping and Tourism. Οn 23 September 2015 the latter ministry broke up into the Ministry of Shipping and Island Policy and the current ministry.