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Newsletter February 2010

EDITORIAL

As Greece positively responds to substantial fiscal challenges, we must keep in mind that the private sector in Greece remains a vibrant and vigorous catalyst for commercial activity, investment, and long-term growth.

The Greek government is putting into place a bold Stability and Growth Programme that it is confident will align its deficit ands debt according to EU standards. The deep and exhaustive reforms, although severe, are set to produce a more competitive and responsible economic framework in Greece, overhauling some inefficient practices and creating a more transparent public sector with solid fiscal and economic foundations.

These reforms are good measures for investors and for the private sector, allowing businesspeople to be secure with a more stable taxation regime, a more consistent development policy, and a long-term framework for both a green economy and a knowledge-based economy.

Investment opportunities in Greece remain bright and highly attractive. The fact that Hilton, Sheraton, and Westin hotels are opening new properties in the spring of this year underlines the strong growth potential in Greece’s tourism sector. Other areas, such as biotechnology, renewable energy, and food and beverage are showing signs of robust growth for the near future.

Greece’s private sector—entrepreneurial, innovative, and outward looking—provides a welcome environment for global businesses to prosper and grow as the entire country looks forward to a more dynamic, strong, and prosperous future.