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ATHENS

July 2012

EDITORIAL


Aristomenis (Aris) M. Syngros
Executive Chairman

The recent elections in Greece provide the international investment community with a clear, unambiguous message: that Greece is committed to implementing its comprehensive reform programme and that the Greek people are overwhelmingly committed to remaining in the Eurozone.

At the same time, the new, three-party coalition government, led by Prime Minister Antonis Samaras, establishes an environment of stability, and one that can focus on what we might call the new era of “Greek Reconstruction and Development.”

Kostis Hatzidakis, in his remarks upon assuming duties as new Minister of Development and Infrastructure, made clear that the new Ministry has, among others, two, well-defined priorities: to support liquidity in the market and to stimulate entrepreneurship.

With this target, Greece is able to focus, through structural changes, on economic growth, without which productive investment is all the more difficult. Economic growth creates jobs, increases GDP, broadens the tax base, and stimulates demand. This is the only path forward for Greece.

Combined with reconstruction, growth creates the ideal conditions for investment. The many areas in which Greece offers attractive investment opportunities are now enhanced by a more stable environment, a more streamlined Fast Track Investment Law, and new tools that will serve both entrepreneurs and investors. Notis Mitarachi, Deputy Minister of Development, responsible for investments, said that our objective is to accelerate the launch of new investments and to increase the value of companies and real estate to be privatised.

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HIGHLIGHT

A Track for Growth and Productivity
Minister of Development and Infrastructure Kostis Hatzidakis discusses Greece's priorities to achieve more growth and increased investment.
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SPEAK OUT

Notis Mitarachi, Deputy Minister of Development: New Measures for a Strong Investment Environment
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NEWSWIRE  
Legal Framework to Improve Business Environment
Greece has amended a key law governing business and investment to further boost the overall business environment.
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ANALYSIS  
Greece Maintains FDI Inflows
The highly challenging environment in Greece and globally has had severe repercussions in a variety of areas, yet Greece has maintained a satisfactory level of FDI inflows.
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INVESTMENT NEWS  
Enel Green Power Launches Four Photovoltaic Plants
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  SUCCESS STORY  
SPI Solar Contracts with Thermi-Taneo
SPI Solar, a leading vertically integrated photovoltaic (“PV”) solar developer, announced that the company will serve as the EPC contractor for the design and construction of 7.4 megawatts in Greece.
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  IQ - INNOVATION QUOTIENT  
MOU with China; New Innovation Fund
In an effort to advance its knowledge economy, Greece is initiating a number of steps to enable technology transfer and to fund new, innovative businesses in Greece.
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  TRENDS & TRADEWINDS  
Greece’s Labour Costs Significantly Lower than EU Average
Businesspeople will find Greece’s human capital highly cost competitive, well educated, and linguistically adept.
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REGIONAL GREECE  
New Highway Construction, Advances in Waste Management
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OUTREACH  
Destination Marketing Workshop
Invest in Greece Agency in Marketing Workshop: Within the framework of the Black Sea Trade and Investment Promotion Programme, the United Nations Development Programme and Invest in Greece, in collaboration with aboutourism, hosted a two-day Training Workshop on Destination Marketing for Investment Agency Leadership.
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FDI GREECE
World’s 3rd Largest Offshore Windfarm: Greece will soon be home to the world’s 3rd largest offshore windfarm, following approval by the Regulatory Authority for Energy.
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NETWORKING NEW MARKETS
Invest in Greece Ranked Among Strongest Performers by World Bank Report
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