ECONOMY

Gov’t, Microsoft to announce big investment Monday

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Prime Minister Kyriakos Mitsotakis and Microsoft President and chief legal officer Brad Smith will announce a big Microsoft investment in Greece at the Acropolis Museum Monday.

Kathimerini understands that the investment has to do with cloud services infrastructure and that Microsoft's new activities will be based in the Athens area.

The origins of the idea for the investment can be traced to a meeting between Mitsotakis and Smith at the World Economic Forum in Davos, Switzerland last January, after which Smith had commented that it was one of the most important meetings he had in Davos. But Microsoft made its final decision two weeks ago, after talks with Mitsotakis' officce and the ministries of Digital Governance and Investment and Development.

Details will be known Monday, as everyone involved in the project has signed a non-disclosure agreement.

Microsoft has already cooperated with the Greek government this year on augmented reality applications at the Ancient Olympia archeological site. The success of that project contributed to Microsoft's decision to invest in Greece. But the company also took note of the Greek Parliament's voting some changes in the country's investment laws.

Sources close to the Prime Minister have expressed hope that this project, whose added value could approach €1 billion, will help attract even more direct foreign investment.