Newsletter View

Newsletter October 2013

EDITORIAL

The global investment community makes decisions based on a variety of factors: stability, timing, location, potential, and opportunity being some. As Greece begins to benefit from an extraordinary course of deep, structural reform, investors are beginning to benefit from our success in carrying out such reform.

Today, Greece is demonstrating the results of its long held resolve to enact meaningful change, create a business friendly environment, and attract investment in key areas.

Recent results of two major studies, the World Bank’s Doing Business indicators and the World Economic Forum’s Competiveness Report, show a positive trend in removing structural barriers and tackling regulatory failings, and a marked improvement in education, infrastructure, and technological readiness.

New legislation to further improve the Fast Track process and provide residence permits to strategic investors and those who purchase real estate valued at 250,000 Euro and up further indicate the relentless drive with which Greece is moving forward.

The fact that 2013 is proving to be the most successful year for Greek tourism—with more than 17.5 million visitors expected by year’s end—reflects the hugely positive image Greece has established among travelers from the world over. And it is evidence of the vast potential to invest in the tourism and real estate sectors.

Equally important, confirmation of Greece’s geostrategic location is coming to the forefront as more companies are selecting Greece as a logistics hub for their operations. Recent examples include HP, Phillip Morris, and China’s ZTE Corporation, all of which are investing significant sums based on measurable benefits and long-term forecasts.

And increased attention by investors from North America, where our Prime Minister visited twice in the previous two months, and spoke to leading business personalities, points to an across-the-board interest that represents a broad spectrum of sectors, demonstrating the depth and breadth of opportunity in the Greek economy today.

As investor momentum continues to build, we expect the next 12 months to be decisive in highlighting not only the success of our reform efforts but the total confidence investors now have in selecting Greece as their investment destination.


Stephanos Issaias
Chief Executive Officer