Galery

1

Victoria Mindova

Prime Minister George Papandreou is seeking assistance from successful millionaires of Greek origin, to give initial impetus to positive changes in the Mediterranean country. After strong criticism from opposition forces and business circles in Greece on the effects of stringent economic measures, George Papandreou also looked at measures for economic development and competitiveness. In order to attract foreign capital the Greek PM convened a meeting among the most influential and successful businessmen of Greek origin in the world. The main theme of the meeting was to attract new private investments in the country, which will infuse "fresh blood" in the stifling economy of the country. It is the common opinion that Greece is threatened by long and severe economic recession, unless strict immediate measures are not undertaken to revive the economy and industry. So the Prime Minister is trying all possible means for finding new investments. 

The meeting between the businessmen and the government was behind closed doors, and officially no businessmen were announced. Government representatives included key figures like Deputy Prime Minister George Pangalos, the minister of economy, development and merchant navy Louka Katseli, Minister of Energy and Environmental Tina Birbili, Minister of Tourism and Culture Pavlos Geroulanos, Deputy Foreign Minister Dimitris Droutsas and the Deputy Minister of Finance Filipos Sahianidis. Analysts report that attracting foreign investments is essential to limit unemployment and the return of normal economic rhythm. 

Prime Minister of Greece said that the drastic increase in taxes and excise duties and the reduction of pensions and wages has saved the country from bankruptcy. "However, stringent economic measures cannot provide long-term outcome, unless supported by measures to promote economic growth," Papandreou acknowledged before the German publication Handelsblatt. 

Along with the announcement of the meeting for attracting new foreign investments in Greece, began a public dialogue on the new law on investment. Main objectives of the Bill is the creation of a new strategy for economic development and promoting new business models that will turn panting Greece in a modern and competitive country. The new investment law provides for shortening the length evaluation and redirection of state subsidies of 12-18 months every four months. It will provide current assessment of the effectiveness of public investment that will be assignable in case of need. The Ministry of economy and competition has proposed the creation of a new committee for monitoring of investment projects, which will be responsible for their performance and implementation. The Commission will also have the task to examine the market for new investment opportunities and to provide proposals for new projects. By the end of this year the Ministry of Louka Katseli provides for government investment amounted to €770 million. The government of PASOK has turned towards the development of energy efficiency and application of innovative systems in the field of green energy, more efficient system of public funding and increasing the productivity of the country. 

The meeting between Government representatives and rich businessmen of Greek origin was held one day before the opening of the two-day economic forum “Mediterranean Sustainable Energy Summit”, which will be held in Athens on May 18-19, 2010. The main purpose of the Forum is to bring together representatives of government, corporate leaders, financiers, scientists and specialists in the field of energy efficiency, development of energy strategies and partnership of private and public sectors.