Trade with Greece
37
and, finally, the passing of new laws on the sim-
plification of procedures is unforgivably belated.
There is no doubt, of course, that a huge struc-
tural reform exercise, which will help improve the
investment climate, is underway; however, its
actual effects will not be immediate. And this
because both the country’s public sector, and
business world, will take some time to adapt to
the new administrative regime and the new insti-
tutions. Therefore, foreign investment in Greece
will have a medium-term horizon of maturity and
return.
Which sectors of the Greek economy present
growth opportunities and are, therefore, suit-
able for foreign investment, and in which sec-
tors are US investors interested in investing?
Taking into account that Greece is adopting a new
growth model, I would say that the tourism, ener-
gy (especially in regard to green forms of energy),
financial, as well as infrastructure sectors are
poised for growth and are of direct interest for
American investors. The development of the
State’s real property through modern methods
and instruments (e.g. PPPs), as well as privatiza-
tions, are expected to have a catalytic effect on
the Greek economy’s growth.
Harris Ikonomopoulos,
President of the British-
Hellenic Chamber of
Commerce
How foreign invest-
ment-friendly is the
environment currently
prevailing in Greece?
As far as the govern-
ment’s intentions are concerned, and as a conse-
quence of the country’s fiscal derailment, this
environment seems to be extremely friendly. The
vice-president of the government responsible for
coordinating the inter-ministerial development
committee is struggling to untangle investments
whose licensing is bogged down. The Minister of
the State, responsible for investments, is very
active and tries to attract major investors, such as
