Call to Indian investors to come to Greece
Fragogiannis: Call to Indian investors to come to Greece
Bilateral trade volume increased significantly in 2022, reaching 1.32 billion euros
OT.gr Newsroom
22.02.2024
A call to the “public and private sectors of India interested in investing in Greece” was made by Deputy Foreign Minister Costas Fragogiannis, addressing businessmen in India.
He also added that “There are opportunities waiting to be explored”, adding that “I am confident that you will find suitable partners and with mutual trust, respect and understanding, we can create mutually beneficial and potentially extremely profitable businesses”.
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The full speech of the Deputy Minister follows
Honourable President of the Federation of Indian Chambers of Commerce & Industry, Dr. Anish Shah,
Dear Presidents and Members of Indian and Greek Business Associations,
Ladies and Gentlemen,
It is a great pleasure and honor to visit Maharashtra with a group of eminent Greek businessmen and investors. Warm congratulations to the Indian and Greek delegations for their diligent efforts in organizing this event.
We are here, Greek and Indian businessmen and politicians, to envision future prospects for our economies. Sitting side by side in this beautiful space, we exchange ideas and best practices, explore partnerships and build trust. This is a glimpse of the future before the future.
In August last year, during the visit of the Indian Prime Minister, Narendra Modi, to Athens, we had the opportunity to upgrade our bilateral relationship to a strategic level, as outlined in our Joint Declaration. As a result, we can now focus on strengthening our strategic bilateral engagements in various areas, such as trade, science and technology, culture, tourism, agriculture and energy. To further strengthen our economic relations, we should leverage the unique strengths of our countries for mutual benefit.
There is clearly great potential in bilateral trade and already the volume of bilateral trade increased significantly in 2022, reaching €1.32 billion.
In the dynamic energy sector, both our countries have a particular interest, primarily in diversifying sources, routes and supplies, as well as in developing regional interconnections to improve energy security and adequacy. Greece aims to establish itself as a reliable energy hub in Southeastern Europe, acting as a gateway for natural gas imports. Important energy corridors are being designed and constructed, both on land and at sea. With natural gas flowing from north to south and vice versa, energy stability will be ensured in the Western Balkans, Ukraine and Moldova.
Furthermore, Greece is striving to become a hub for the transmission of green electricity generated from Renewable Energy Sources (RES) in Egypt and the Middle East to the Western Balkans and Europe. To achieve this goal, we are promoting strategic international connections with Mediterranean countries, including Cyprus, Israel and Egypt. In 2022, Greece ranked 7th in the world in terms of the use of RES in its energy mix and is on track to achieve the national target of generating 80% of its electricity from RES by 2027. The rapid progress in the integration of renewable energy sources and the gradual integration of energy storage into the electricity system present numerous investment opportunities in our country. Green investments are expected to exceed €44 billion by 2030 through the implementation of 21 actions of the National Recovery and Resilience Fund.
Furthermore, Greece’s geostrategic location provides a wide range of business opportunities, positioning our country as a critical gateway to the growing markets of Southeastern Europe, the Eastern Mediterranean and the Black Sea. Consequently, Greece is seen as an ideal transportation hub for sectors such as food and beverage, logistics, tourism, energy and IT.
Ladies and Gentlemen,
Greece has been progressing with reforms and business-friendly policies, establishing itself as one of the most attractive investment destinations in Europe over the past 5 years. This is evident in the steady rise in Foreign Direct Investment (FDI) and the caliber of companies that have chosen to invest in Greece, including Google, Microsoft, Amazon, JP Morgan, Pfizer and Mondalez, among others.
However, for partnerships and investments to thrive, a safe and stable environment is essential, as as well as goodwill and resilience, are essential. I firmly believe that our countries are moving in the right direction. Therefore, I extend a formal invitation to the public and private sectors of India interested in investing in Greece. There are opportunities waiting to be explored.
I am confident that you will find suitable partners and with mutual trust, respect and understanding, we can create mutually beneficial and potentially highly profitable businesses.
As Mahatma Gandhi said, “Let us be the change we wish to see in the world”
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