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Newsletter December 2009

HIGHLIGHT

Strong Interest in Greece from China, Korea

More than 400 investors from China and Korea expressed a strong interest in Greece as an investment destination during a mission of Invest in Greece to Beijing, China and Seoul, Korea.

Invest in Greece, within the framework of implementing its strategic plan for promoting, attracting and supporting foreign direct investment in Greece, carried out business missions to China and Korea between November 2-6, 2009.

More than 400 potential investors expressed an interest in learning more about the Greek market, investment opportunities, and Greece’s attractive investment incentives. The mission was held in cooperation with the Economic and Commercial Offices of the Greek Embassies in Beijing and Korea.

Beijing

In Beijing, Invest in Greece took part in the 1st China Overseas Investment Fair (COIF). COIF represents China’s first strategic effort to create attractive investment conditions for countries globally. At the exhibition, more than 100 national and regional investment promotion agencies were present, indicative of their interest in this market, which attracted $US 521.5 bn. in Foreign Direct Investment (FDI) in 2008, up by 196.7% over 2007.

Invest in Greece’s agenda in Beijing included an investment seminar, at which more than 200 Chinese businesses participated. In addition, the Agency made presentations on financing in the framework of Greece’s law for investment implementation, Invest in Greece’s services, and the growth potential of sectors of interest to Chinese businesses: Renewable energy sources (RES) and information and communication technologies (ICT).

Memoranda of Understanding (MOU) were signed between Invest in Greece, represented by its CEO Apostolos Tsoukalas, and his counterparts from the Beijing Investment Promotion Agency and the China Beijing Equity Exchange (CBEX). The MOUs create a formal basis for further cooperation and development between the two countries in expanding investment while reinforcing the Invest in Greece Mission to China. In their talks, senior staff underlined the importance of the signed agreements, which offer mutual benefit to both countries and economies, and committed to put forth every effort in promoting new collaborations.

The activities attracted 400 interested potential investors. More than 500 Chinese government bodies and businesses were informed about Greece’s investment advantages via electronic mail.

Seoul

Between November 5-6, senior staff of Invest in Greece visited Seoul, South Korea. The Greek Embassy in South Korea, in cooperation with the Korean Chamber of Commerce and Industry, hosted an event at which more than 90 representatives of businesses, government bodies, the diplomatic corps and media took part.

The event promoted, through investment seminars, attractive sectors of the Greek economy for FDI, including RES and ICT.

South Korea, among the advanced industrialised countries of the world, has made significant foreign direct investments in recent years. In 2008, Korean FDI reached $US 36 bn, of which $US 3bn was directed to member countries of the European Union.