Attracting new investments from the US – 2024-08-03 18:41:29

Albert Einstein said that “life is like riding a bicycle – to keep your balance you have to keep moving”. This phrase comes to mind when I am asked about the importance of maintaining our country’s positive course, persevering, despite the obstacles.

Greece has weathered numerous economic storms in recent years, struggling with austerity measures, debt crises and political instability. Fortunately, the Greek economy is now showing clear and steady signs of recovery, with GDP increasing, fiscal reforms bearing fruit and even more foreign direct investment leading to further business expansion.

Our strategic location at the crossroads of Europe, Asia and Africa makes our homeland the gateway to commercial and investment opportunities in the wider region. The ongoing modernization of Greece’s infrastructure, including port facilities and transport networks, is enhancing its connectivity and trade competitiveness. The recent reforms, aimed at improving the business environment and streamlining the bureaucracy, further facilitate the operation of companies in Greece.

In recent years, many giant companies from the US have shown interest in our country, recognizing our geographical advantage and excellent human resources, and have made significant investments. We know that relations between the two countries are excellent and that US investors continue to explore further opportunities in several key industries. Keeping that momentum going is vital.

Tremendous progress has already been made in the shipbuilding and shipbuilding sector, as well as in defence. In addition, in the field of pharmaceutical products and health care and in real estate there is great investment interest, while the field of technology and innovation is particularly attractive. The energy sector, with an emphasis on RES projects and sustainable energy solutions, is gaining ground, as is the tourism and hospitality sector – breaking all records this year – with investments in luxury hotels and tourist infrastructure.

The US investment footprint is already large and has much potential to grow further. So it depends on us whether we continue to pedal. It also basically depends on us for simple things, such as ensuring the fiscal and more general stability brought about by adherence to the basic rules of a rule of law and the elimination of bureaucracy. Much can still be done to maintain and build momentum. We need to start with radical changes in health and Justice – reforms that will help existing investments pay off and create a magnet for future ones.

By promoting dialogue and forging partnerships, the Hellenic-American Chamber of Commerce acts as a catalyst for attracting new investment and economic development in Greece. Through our extensive network we facilitate the exchange of know-how, promote best practices and act as a trusted resource for businesses seeking to establish or expand their presence in Greece.

The Chamber therefore plays a vital role in facilitating cross-border cooperation and attracting investment, as it actively supports policies that promote a favorable business environment, keeping open the critical bridge between the American and Greek business communities.

Mr. Nikolaos Bakatselos is the president of the Hellenic-American Chamber of Commerce.