There are two ways for Greece to get out of the crisis. One is to reduce the debt burden, the other is to increase growth, however this is not an either / or choice and the country must chase both. As i have mentioned before, the private sector cannot continuously look to the government for cash, therefore the importance of Foreign Direct Investment becomes even more important in encouraging growth.
As Mr Syngros, Executive Chairman at Invest in Greece points out, recent changes in the Greek legislation pave the way for economic growth in Greece.
Following is an excerpt...
June has been a trying and tumultuous month for Greece and the Greek government which, faced with a difficult agenda, succeeded in parliament by winning a crucial vote of confidence, passing a needed austerity package coupled with an aggressive privatisation plan, and a voting for its implementation. This far-reaching vote paves the way for Greece to continue with a necessary and vast structural reform programme that will redefine economic development in a country that has experienced bureaucratic inefficiencies, opacity, a lax taxation regime, excessive public spending and a bloated public sector.
Today, Greece has the unique opportunity to truly enter a new era that must replace misguided policies of the past and establish a friendly business and social climate that eliminates waste, fosters sustainable growth and, most important, promotes investment opportunities that the global business community should welcome.
One of the key components of the new growth model is the rational and productive use of state assets that will become available to the private sector. State-run companies, utilities, national infrastructure facilities such as ports and airports, vast tracts of real estate, and other assets will all be privatised to create win-win results: revenue enhancement for the Greek state and highly attractive investment opportunities for the private sector, all serving the public good.
In addition, sectors of investment such as tourism infrastructure, RES, environmental sciences and waste management, biotechnology, food and beverage and ICT continue to offer superb investment opportunities. Our Fast Track programme is attracting widespread investor interest.
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