ECONOMY

British business eyes Greece

UK entrepreneurs, funds spoke to PM Mitsotakis of their interest in investing in the country

british-business-eyes-greece

Leading British entrepreneurs and investment firms expressed their considerable interest for investing in specific projects in Greece during a meeting with Prime Minister Kyriakos Mitsotakis at the residence of the Greek ambassador in London last Wednesday, as well as in other contacts made during the Greek premier’s visit to the UK.

Mitsotakis pointed out three main factors that give Greece its significant competitive advantages: its geostrategic position, the high caliber of its human resources in terms of education and skills (including the brain drain flow that is being reversed) and the political stability that has returned to the country.

The investment proposals presented to the prime minister included many innovative ideas for projects that have not yet obtained a significant size in Greece. One of them concerned a third and larger project of green energy after Halki and Astypalaia, for the complete supply of electricity via renewable sources and the substitution of all vehicles with electric ones.

Other ideas concerned the development of elderly care homes, energy production, the transition of the country’s fleet of ferry boats to electrical energy and the creation of carbon sinks, that is projects aimed at capturing carbon dioxide, and offering Greece payments for emission rights. Such natural carbon sinks include forests and oceans, with one of the proposals discussed in London concerning the development of a large forest in West Macedonia to this end.

Entrepreneurs also showed interest in offshore and floating, as well as conventional wind farms, for new generations of infrastructures such as fiberoptics connectivity, the sector of technology and startups, logistics, the so-called “silver economy” with services addressed to foreign pensioners who can become permanent residents, and of course the data centers.

There was also interest in several other sectors in Greece, such as energy, various infrastructures, the property market and in portfolio investments, such as stocks and bonds.