Greek state corporations must improve competitiveness, corporate governance


Greek state corporations will not attract investor interest unless they improve their competitiveness and corporate governance, the head of Greece’s state asset management company said at a forum in Athens on Tuesday.

Ourania Ekaterinari, chief executive at the Hellenic Corporation of Assets and Participations (EESP), told an American-Hellenic Chamber of Commerce conference there are three conditions that must be fulfilled before investors boost the asset company’s revenues, which will go toward bolstering growth and covering part of Greece’s dues to its creditors.

She explained to delegates at the 29th Greek Economy Conference that the first condition is the return of credibility as regards state corporations’ financial figures and their five-year outlooks.

The second is that the corporations should have an open communication policy and be more outward-looking, while the third is that they start employing corporate governance rules that promote transparency and internal monitoring.