Greece is emerging as a prime destination for foreign investment,
thanks to favourable economic indicators, exceptional returns
on the Athens stock market, and EMU membership all but guaranteed
from 2001. Structural reforms, including wide-ranging privatisations,
are further increasing the country's allure for foreign investors.
Greece Emerges as an Investment Destination
Recent strides in Greece's economic
outlook over the past five years have upgraded Greece's
rank for international investments. Greece has emerged as
an increasingly sophisticated market in its own right, but
also as a gateway to the wider regional market of South-East
Europe , including Cyprus.
Greek-foreign business ventures focus primarily on:
- Manufacturers , via joint ventures in
production and distribution
- Service providers in traditional sectors
like shipping and
tourism
- High-technology
- International mutual fund managers seeking
high returns for the funds under their management, encouraged
by the booming Athens Stock
Exchange .
Greek investment activity is working both ways. Thousands
of Greek joint ventures are underway in the Balkans, where
Greek businesses are major
players . In early 2000, a Greek-Turkish chamber
of commerce initiative was launched, stimulated by recent
improvements in Greek-Turkish
Relations . Structural improvements, especially in
the transport and communications sectors, are boosting such
ventures.
A Guide to Help Potential Investors
While the macroeconomic environment is more favourable than
ever for investing in Greece, rapidly changing circumstances
can make it difficult to keep updated on potentially important
issues, and to get a handle on the Greek system.
In order to help foreign investors tackle issues such as
laws governing business investments and hiring practices,
research and development, and logistics and infrastructure,
the Greek Ministry of
Press and Information has compiled a comprehensive
and accessible guide in English. Published in 1999, Greece:
Your Strategic Partner in the New Millennium provides
an up-to-date outline of all aspects of investing in Greece.
It supplements other official information, such as the Greek
investment framework .
Full of facts, graphs and comparative charts, the book presents
issues and laws pertaining to setting up and running businesses,
and highlights new developments that allow investors to maximise
the value of their profits, including the recent growth of scientific
centres and technological parks.