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Seminar in Paris highlighting the comparative advantages of Greece for foreign investments

Featured Seminar in Paris highlighting the comparative advantages of Greece for foreign investments

Highlighting the comparative advantages that Greece presents for foreign investment was the main subject of a seminar organized in Paris by the Office of Economic and Commercial Affairs of the Embassy of Greece in France, in collaboration with the Permanent Representation of Greece to the Organization for Economic Cooperation and Development (OECD) and MEDEF International, the largest French business cooperation network.

In particular, the aim of the seminar was to highlight the attractiveness of Greece for French investors, to present the existing investment opportunities and in general to inform French financial organizations and institutions, regarding the progress made by the Greek economy in the current economic situation.

"Greece was called upon to face unprecedented challenges and complex crises both internally and at the global level" underlined in his introductory speech the Ambassador of Greece to France Dimitris Zevelakis, pointing out at the same time that "with effort and targeted reforms we managed to overcome the difficulties and this at the moment it is considered a model country, with economic indicators constantly improving". Continuing, the Greek Ambassador underlined that "Greece-France relations have always been at a very good level, with our friend France being a strategic partner and a consistently reliable ally" and concluded by emphasizing that "in the field of economic relations, France is a key economic partner and has a significant business presence, and in fact in key sectors".

In the discussion that followed - and which was moderated by the Permanent Representative of Greece to the OECD, Giorgos Pagoulatos - Greek public administration executives, specialized experts, bank executives responsible for monitoring the Greek economy and fund managers with a corresponding investment interest took part. .

The President of the Council of Economic Experts of the Ministry of National Economy and Finance, Michalis Argyrou, explained that the Greek economy continues the improving trajectory it set out in 2019 and that despite the difficult external environment, all the leading macroeconomic, fiscal and financial indicators are improving, underlining that the macroeconomic progress strengthened by micro-improvement and institutional improvement, but also that the Greek authorities continue to implement important reforms that enhance growth with appropriate policy measures.

The Secretary General of the Financial Sector and Private Debt Management, Theoni Alambasis, stated that in recent years, Greece has made significant progress in restoring the resilience and soundness of its banking system and that the four main pillars showing steady progress are the non-financial sector of serviced loans, the insolvency framework, the disinvestment of the Financial Stability Fund and the profitability of Greek banks. "Greece's economic strength guarantees strong growth prospects in the coming years", the General Secretary of International Economic Relations and External Affairs of the Ministry of Foreign Affairs, Myra Myrogianni, underlined during her intervention. Referring to the recovery of the investment grade after 13 years, the Secretary General noted that Greece has shown tremendous resilience, turning the crisis into an opportunity, and presents excellent investment opportunities, both in the traditional sectors of tourism and real estate, as well as in sectors such as infrastructure, technology, renewable energy and logistics. In particular, the life sciences sector is one of the most innovative sectors in Greece, with the Greek pharmaceutical industry recording investments worth 1 billion euros, the General Secretary said.

"The continuous implementation of structural reforms, the achievement of fiscal targets, the integrated and proactive management of cash and portfolio, as well as the consistency of strategic financing, have provided confidence to the investment community", underlined the Director General of the Management Organization of Public Debt Dimitris Tsakonas, while Nikos Tsafos, Special Adviser to the Prime Minister on energy matters, stated that Greece occupies a leading position in the EU regarding the penetration of renewable energy sources, that there is a rapid reduction in coal production, that renewable energy sources are expanding and that investment interest far exceeds current needs. Finally, Konstantinos Karagounis, Lawyer at the Court of Appeal of Paris, the Court of Cassation and the Council of State in Greece, referred to the common points that exist in Greek and French Law as well as the favorable tax system prevailing in Greece for French investors.