OPINION

Attracting foreign investment

These uncertain times are extremely challenging for the Greek economy, which is in dire need of new and substantial investments. It goes without saying that the PASOK government needs to introduce accelerated procedures that will ensure the responsible state authorities will be able to give the green light to those foreign investors who have too often run into bureaucratic obstacles, among others, in the past. At the same time, Prime Minister George Papandreou’s administration must guarantee the fair treatment of other investors, many of whom have been sidelined for too many years simply because they lack the necessary political connections. The government must do everything in its power to attract desperately needed fresh investment by introducing speeded-up procedures and tax cuts for new businesses. One can only hope that this process will not be undermined by the usual corruption, which is largely to blame for the state the country now finds itself in.