Value of German investments

Value of German investments

Over the last three decades, German investments in Greece have contributed toward the modernization of the country, and they will continue to do so through the landmark projects by Volkswagen, RWE and Fraport, German Ambassador to Greece Ernst Reichel told a conference on Tuesday.

Addressing the 5th German-Hellenic Economic Forum that was launched online, Reichel referred to German investments made during the last 25 years in the fields of telecommunications infrastructure and pharmaceuticals, “which essentially contributed to Germany securing the position of the largest foreign investor in Greece.”

“Above all, these investments have contributed to the country’s modernization, and have secured many jobs in the difficult economic years which Greece has left behind,” he noted.

On Twitter, the ambassador wrote that “emblematic investments in Greece by Volkswagen, RWE or Fraport go beyond rhetoric, have scale and substance.”

New opportunities for attractive investments in Greece are emerging from the economic recovery plan drafted by the government titled “Greece 2.0,” in the framework of the European Union’s recovery fund, NextGenerationEU, and “which rightly enjoys great recognition,” he stressed. The sectors of digitization and green energy are at the forefront, he underlined, adding, “I am glad that the Greek government is represented here today by various ministries in order to talk to businessmen from Germany.”

It is rather positive, Reichel highlighted, that the Greek government attaches so much significance to economic and technological cooperation with Germany, and that the months-long pandemic has not paralyzed the country’s economic transformation and reforms for the improvement of the economic climate.

Despite the coronavirus pandemic, Greek-German economic relations have displayed an increasing trend, noted Volker Trier, CEO of Foreign Trade at the Association of German Chambers of Commerce & Industry (DIHK), speaking at the event organized by the German-Hellenic Chamber of Industry & Commerce. This increase could be described as unique and impressive, he continued. German exports to Greece increased by 10% and imports to Germany from Greece over 23% compared to the previous year.

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