Trade with Greece
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the Qatar Investment Authority. The Minister of
Development looks for, and proposes, measures
for enhancing entrepreneurship. The three pillars
of extroversion, i.e. “Invest in Greece”, the Greek
National Tourism Organization and HEPO, are
trying to coordinate their efforts, guided by mar-
ket, and primarily commonsensical, people. Τhis
frail façade, though, that the Country needs and
struggles to show, collapses and reveals the size
of the problem when the political system and the
Media react as they recently did when the sale of
public land and real estate was announced as a
tool to reduce debt.
Which are the shortcomings of this environ-
ment?
Greece will not become foreign investment-
friendly so long as we Greeks do not make clear
to the world, once and for all, in a most binding,
forceful and clear manner, that we want our coun-
try to become the base of the most capable,
imaginative, highly-trained and creative fellow cit-
izens of the world, and therefore those citizens
that, under normal conditions, prosper. In fact,
Greece remains hostile towards investment, so
long as it remains fixed to foolish and outdated
ideological ranting of the type “no profit for the
sake of profit”. The Greek State will keep on
treating investors like intruding fools and potential
“hostages” ― at least, this is how investors,
understandably, feel they are being treated― so
long as it continues to abuse its right to impose
taxes on the pretext of social welfare, turning this
right into the revenge of the “useless” against the,
at least financially, productive.
Which sectors of the Greek economy show
growth prospects and, therefore, are suitable
for foreign investment?
The potential for developing the state’s real proper-
ty and the country’s mineral wealth creates rather
attractive investment opportunities.
Greece needs a jumpstart. And this can only be
done by means of an urgent institutional reform ―
in other words, through an immediate Constitutional
Reform; on the basis of a clear and simple propos-
al, understandable by all and mustering all social
partners in a horizontal national alliance.
Martin Knapp,
General Director and
Member of the Board
of the German-Hellenic
Chamber of Commerce
and Industry
How foreign invest-
ment-friendly is the
environment currently
prevailing in Greece?
At present, it would be a lie if I told you that this is
a particularly friendly environment. There are
issues, whose resolution is in the hands of the
government. As far as these issues are con-
cerned I am optimistic that things will get better,
since the country’s political leadership is aware of
the importance of investments, especially at the
present stage. Without investment, Greek or for-
eign, there is no rescuing the economy. Another
issue is the attitude of part of society towards for-
eign direct investment. There is a lot of mistrust,
which ―of course― no presidential decree can
stamp out… People must understand that when
all goes well with an investment a “win-win situa-
tion emerges, in other words a situation where all
participants can profit in one way or the other.
Which are the shortcomings of this environ-
ment?
The stumbling blocks for investment have been
pointed out a thousand times. We are mainly
referring to red tape, and the lack of a stable tax
regime. If these two issues were resolved, then
the others could be dealt with, such as the partly
outdated banking system. But the future is fraught
