ECONOMY

Model proposed for 500,000 new jobs by 2021

A study made for the Federation of Hellenic Enterprises recommends the adoption of a new National Growth Model that can create half a million new jobs in the next decade.

Conducted by McKinsey and Co counsellors and entitled ?Greece 10 years ahead,? the study suggests that the emphasis should be placed on four pillars: Competitiveness, productivity, the extrovert character and bolstering of investment.

It goes on to identify the five main sectors of the economy, tourism, retailing, energy, industry and agriculture, that can offer a fresh impetus on the economy and give it an average annual growth rate of 3 percent for the next 10 years.

The businesspeople, says the study that will be officially presented on Monday in Athens, will need to seek the creation of major enterprises through mergers and acquisitions, and the adoption of more efficient production methods.

The promotion of Greek brands in goods and services in foreign markets must be done in a systematic and timely fashion, the report argues, adding that Greece will need to dramatically increase the inflow of foreign capital, and take it above the European average. The privatization program can help in this direction, it concludes.