Greece Attempts To Soothe Investors Concerns at Annual London Roadshow

The Greek government is looking for more investment funds to implement the national development strategy, Economy and Development Minister Dimitris Papadimitriou said at the 12th Roadshow of the Athens Stock Exchange in London.

Addressing prominent fund managers, Papadimitriou presented Greece’s comparative advantages and opportunities for investments.

“Undoubtedly, Greece is on the path of recovery and the beginning of a lively period for its economy. This is recognized by the markets,” he said adding it resulted in “the undertaking of large investment projects by the investment community.”

However, some investors were sceptical of Greece’s investment-friendliness.

When the question of Eldorado Gold’s investment in Chalkidiki was raised, Papadimitriou replied that there are environmental and methodological issues that need to be taken into consideration.

Defending the stance of the Greek government he added, that it is difficult to see why the company did not follow the best practice by announcing a suspension of work during the arbitration procedure.

The minister concluded his speech with the question, “why invest in Greece?” which he responded by presenting the following six advantages that the country offers:

  • Profitability potential: the use of highly skilled labour at competitive wages along with the rich material resources that can support tourism, energy, mining, food processing industry, the life sciences, including the pharmaceutical industry and clinical trials, supply chains and new technologies
  • Currency stability in the Eurozone
  • Geo strategic position and stability
  • Active privatization program that offers investment opportunities to public utility companies and other state-owned businesses
  • Competitive advantages: It is a developed country with opportunities for growth that are mainly found in emerging economies
  • Political stability and security in the EU and NATO