investors, especially foreign, emphasize, accord-
ing to Ministry of Development sources, on the
problem of delays in the dispensation of justice.
“The inadequate implementation of legal proce-
dure rules –especially amidst the crisis– is a
thorny issue, related to the very existence of the
rule of law and, of course, the functioning of the
economy. Because it causes a disproportional
increase in risk and discourages investment, now
that we need it more than ever before.
“Of course, both the government and the Ministry
of Justice have been promoting measures for the
fair, sound and timely legal settlement of the rele-
vant disputes. In any case, though, we must uti-
lize all the tools that are available to us.
“We don’t need to rediscover the wheel: we
should only identify best international practices
and make them compatible,” noted Mr. Hatzidakis
at a recent one-day conference, organized by the
T
his is the only way to keep recession in
check. This is the only way to create fresh
opportunities and new wealth for the
country. Attracting investment, especially foreign
direct investment, is crucial. In this context, the
government has been lifting barriers to entry,
dealing with market distortions and cutting down
on red tape”, as the Minister of Development,
Competitiveness, Infrastructure, Transport and
Networks, K. Hatzidakis has quite often said.
And to this end, the draft law for strategic and pri-
vate investment provides for a “Central Licensing
Authority”, gathering officials from all responsible
agencies “in one room”.
As far as expropriations are concerned, the min-
istry has already launched a joint effort with the
Ministry of Justice, in order to reconsider the
issues of cost, as well as speed.
Apart from licensing issues, though, potential
Trade with Greece
35
Attracting investment:
one of the government’s
top priorities
The principal policy axes are well-known: emphasis
on liquidity, promotion of major projects and a
dvancement of structural change and reform, in order
to make Greece more competitive, more investment-
friendly, which is, after all, a prerequisite for the
creation of new jobs.
By Evi Papadosifakis
