Reforms, investment attraction, tourism, energy and the war in Ukraine were mentioned among other things by the Prime Minister, Kyriakos Mitsotakis, in the context of the 33rd Greek Economic Summit of the Hellenic-American Chamber of Commerce.
On investments
The PM noted that despite a series of challenges it is easier to attract direct investment to Greece now, than it was 3.5 years ago. I must say that the argument because Greece can show tangible results with growth above the EU average, foreign investments are coming and 2021-2022 will not be unique years, but this trend will continue. Mr. Mitsotkis noted that reforms will continue, if the voteers give his government a second term
“We want to be a world leader in green energy”
Speaking about the world in the next decade, Kyriakos Mitsotakis said: “Ten years from now you will be celebrating 100 years of the Greek-American Chamber. I can’t predict that far. The big bets we are making now for the green, digital transition and for a workforce that needs significant upskilling are non-negotiable. Protecting the economy, strengthening our defense. In energy we want to be a global leader in the transition to green energy. We know how to achieve it. ”
The PM also noted that hydrocarbons will play an important role in the interim period and Greece is vying to become a center for Europe’s liquefied natural gas.
Ukraine
When asked how different the world will be after the end of the war in Ukraine, the prime minister noted that we are facing a hitherto unimaginable situation, with the war causing turmoil in the energy market. The US is betting big on green technology and doing so in a way that is based on the principles of protectionism. Europe may feel pressure on energy costs and it is difficult to convince large companies to produce in Europe. There is a need to act fast, so European companies stay in Europe.
According to the PM moving towards a world where globalization as we have known it will remain weaker, while geopolitics will play a role and strategic autonomy will become increasingly important. Countries with a productive base like Greece will have many opportunities.
Greece-US relations
Mr. Mitsotakis also noted that the relations between Greece and the US are the best. “I am happy that the interest of Greeks in the diaspora to invest in Greece has increased. We made it possible for them to vote, but unfortunately there are limitations. If we see how many Greeks or Greek-Americans hold high positions in the USA, we will find that it is not too difficult to convince the Greek-American community of the value of Greece. We have managed to effectively manage expectations, we know how attractive it is for them to come to the country. We managed to change the image of Greece and the Greeks in the diaspora played a role in this. And it’s a huge source of talent. Many young talented Greeks want to return to Greece. I believe in this and I believe in the future of Greece.”
Competitiveness
When the prime minister was asked about the country’s competitiveness, he answered the following: “We have vertical policies in certain sectors. We also have various policies in targeted areas.” The PM offered the agricultural sector as an example and noted that exports are booming, exceeding 40% of GDP. Tourism and wellness was another example Mr. Mitsotakis alluded to, saying that his vision is to make Greece the leading tourist destination in the world. He added that Greece is in a unique position to take advantage of the concept of wellness because of the weather, the food, the social networks, the possibility to have genuine experiences in Greece.
Renewable Energy
Mr. Mitsotakis, in a follow-up question about Renewable Energy Sources and the green transition, said that Greece expects to reach 25 KW by 2030, and become an exporter of energy from RES. The problem in Greece, he noted, is the network, for which new technologies are needed. Greece also has a role to play as a conduit from North Africa to Europe. “50% of Egypt is inhabited. It is not difficult to find space for photovoltaic parks there and we are discussing a cable that will connect Egypt with Greece,” noted Kyriakos Mitsotakis
Latest News
DM Dendias: We talk With Turkey But We Always Bring Up Their Unacceptable Positions
Second and last day of closely watched conference, entitled 'Metapolitefsi 1974-2024: 50 Years of Greek Foreign Policy', also included appearances by PM Mitsotakis, Ex-PM Tsipras and PASOK leader Nikos Androulakis, among others
Rhodes Airport Tops Fraport Greece’s Regional Airports in 2024 Performance
According to Fraport's data, more than 35 million passengers (specifically 35.2 million) were handled by Fraport-managed airports during the 11 months.
European Central Bank Cuts Interest Rates by 25 Basis Points
It is the fourth cut of interest rates by Europe’s central bank, a move expected by the markets and financial analysts leading to the rate settling at 3%.
Airbnb: New Measures Add €600 in Extra Costs for Property Owners
Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.