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Newsletter December 2013


Greece’s significant improvements during 2013 should be a welcome, and encouraging, sign for investors around the world. Greece enjoyed its best tourism season ever, with more than 17.5 million visitors, a significant achievement for a country with a population of 11 million. 

Investor sentiment rose across the board, with breakthrough news related to Greece as a logistics hub for Europe. In addition, the TAP agreement places Greece at the center of a major new energy transport infrastructure, and the hopeful signs for hydrocarbon discoveries—both gas and petroleum—in Greece are leading us to a new frontier.

Investor interest in Greece during 2013 was promising and strong. At fora in the United States, Asia, the European Union, and the Middle East, Greece was at the center of the radar screen. Investment opportunities are fully recognized and the buzz is audible. Μore than acknowledging the vast opportunities available, in 2013 we saw increasing numbers of international investors actively engaging in Greece and buying an option in the Greek recovery.

Also recognized are the tremendous strides Greece has made on the fiscal and business fronts.

The World Bank report showed Greece rose to 72nd position in the annual Doing Business ranking, up 17 places from the previous year. And 2013 was the first year that Greece achieved a primary surplus.

In fact, Greece has successfully completed the biggest and fastest fiscal consolidation of any developed country in recent decades, and stands out as the country with the most significant adjustment progress in Europe.

Other developments, such as creating an Invest in Greece Ombudsman, designed to assist investors in their dealings with State authorities, demonstrate our total commitment to creating a more business and investment friendly environment.

Greece is truly becoming a globally attractive investment destination.

We have every reason to be hopeful that 2014 will usher in even more reform, opportunity, and growth potential—and investors should as well.

Stephanos Issaias
Chief Executive Officer