June 20, 2023
Economy
The Greek economy will be upgraded by credit rating agencies to investment-grade level following the national elections on June 25, Bank of Greece Governor Yannis Stournaras asserted on Monday. Speaking at a conference organized in Athens by The Economist and the British Hellenic Chamber of Commerce on “The Global Economy …
Read More »
March 15, 2022
Economy
Greece’s highest administrative court has pulled the brakes on an investment plan for the country’s biggest port that was part of the 2016 concession agreement between Piraeus Port Authority (OLP) and China Ocean Shipping Company (Cosco). In a ruling on Monday, judges at the Council of State found that previous …
Read More »
February 16, 2021
Economy
Investment spending in the manufacturing sector fell 6.9% in 2020 compared with the previous year, the Foundation for Economic and Industrial Research (IOBE) said in a report on Monday. The survey on industrial investments in the period October-November 2020 showed that investment spending in the manufacturing sector is expected to …
Read More »
December 21, 2020
Economy
There are significant investment opportunities in several sectors of the Greek tourism market, especially in the improvement and construction of new hotels, establishing specialized forms of tourism and the construction of marinas and theme parks, Tourism Minister Haris Theoharis noted in his address to the online 22nd annual “Capital Link …
Read More »
November 24, 2020
Economy
Greece need to become attractive to investors in five ways, not simply over low labor costs, Prime Minister Kyriakos Mitsotakis said on Monday. The PM said that Greece’s comparative advantage should focus on taxation, the quality of human resources, the operation of the state, transparency, and the independence of institutions. …
Read More »
October 5, 2020
Economy, FEATURED
Microsoft Corp. has announced one billion euros investment in Greece on Monday. In an event at the Acropolis Museum, Microsoft president Brad Smith spoke of the “biggest investment in the 28 years the company is present in the country. The massive investment will be used for the establishment of a …
Read More »
February 14, 2020
Economy
Volkswagen is considering a major Electro-Mobility investment on the island of Thassos. The German carmaker has reportedly chosen the island in the North-West Aegean Sea to test electric cars, new technologies and innovations in the field of electric driving and autonomous driving. The investment is in the context of “Smart …
Read More »
November 25, 2019
Economy
The Greek government plans to offer incentives for investments in digital technology as it seeks a faster transition to a digital era, Development and Investments Minister Adonis Georgiadis said on Monday, addressing a “Digital Economy Forum 2019, Leading Greece to Growth” forum. “Greece has significant advantages and most of all …
Read More »
November 21, 2019
Economy
Greece expects its economy to grow by 2.8% next year, driven by higher investments, improving domestic demand and tax cuts as the country recovers from a decade-long debt crisis. Data from the 2020 budget, formally submitted to parliament for approval on Thursday, also forecast a primary surplus of 3.56% of …
Read More »
October 24, 2019
Economy
An amend bill tabled by Development and Investment Minister, Adonis Georgiadis, allows investors who buy real estate in order to secure residence permit via the Golden Visa program to make their purchases via credit card or POS. The bill is to be voted today, Thursday, at the Greek Palriament. The …
Read More »
September 21, 2019
Economy
“Stability, privatizations and flexible employment will bring investments,” Development Minister Adonis Georgiadis said on Friday. “We are building an investment environment that allows the investor to make money and we tell him you will come here, will not be bothered by going from office to office, you will not beg …
Read More »
September 20, 2019
Economy
Supranational institutions such as the IMF and European Central Bank push forward the Hellenic Republic to follow through economic reforms and ensure international creditors that repayment of the national debt — the outcome of the financial crisis of 2007-08 reaching 181.1% of GDP in 2018 — is perpetually substantiated by incoming …
Read More »
September 12, 2019
Economy
The Greek government plans extra incentives to attract big scale foreign investors from non-EU countries: The trade is Greek citizenship in return for real estate investment worth at least 2 million euros. According to information by daily kathimerini, Greek citizenship and Greek passports will be available to third-country nationals acquiring …
Read More »
August 23, 2019
Economy
More obstacles lying before the Hellinikon investment project have been lifted with two decisions by the influential Central Archaeological Council (KAS) and the Central Council of Contemporary Monuments. On Wednesday and Thursday, the councils approved a change in a SYRIZA ministerial decision thus loosening the previous strict licensing procedures. Specifically, …
Read More »
April 22, 2019
Economy
Greece’s Agricultural Development and Food Ministry released a set of guidelines for the cultivation of cannabis for industrial and medical use. The framework emerged after consultation with the Justice Ministry and includes stricter penalties for improper documentation and production. According to the Ministry statement, the framework allows: – The import …
Read More »
March 8, 2019
Economy
A new draft bill prepared by the Economy and Development ministry will add intangible investments into Greece’s Golden Visa program for third country, that is non-EU, citizens. The draft law on harmonising Greek legislation with an EU directive on commercial secrecy includes a regulation aiming to improve and to add …
Read More »
February 25, 2019
Economy
Indian infrastructure company GMR Airports Limited, along with its Greek partner Terna Group, will develop the new international airport of Heraklion in Kastelli, Crete, after Greek Transportation & Infrastructure Minister Christsos Spirtzis signed the concession agreement. On Friday, the minister and the consortium signed a concession agreement for design, construction, …
Read More »
February 21, 2019
Archeology, Culture
The residents’ strong reactions to the construction of two multi-story hotel buildings at the foot of Acropolis forced two Greek Culture Ministry to take action and review the building permissions of these two investment projects. The Ministries of Culture & Sport and Environment & Energy will cooperate in order to …
Read More »
February 20, 2019
Archeology
Investment at any price? A wall of hotels around Acropolis? Construction of a 10-story hotel at the foot of the Acropolis Hill is springing high, construction for a 9-story one is to start soon. Locals protest. residents and civic societies are protesting the construction of a 10-story hotel building in …
Read More »
October 30, 2018
Uncategorized
Greece has privatized state assets worth over 8 billion euros from 2011 to the date, Executive President of Greek Privatization Fund TAIPED (HRADF) Aris Xenofos said on Tuesday. In an effort to sweeten the bitter pill of stripping the country off its assets by the creditors’ orders, Xenofos added that …
Read More »
