Intrakat: The construction sector was, is and will be the driving force of economic growth in the country

The construction sector was, is and will be the driving force of economic growth in the country, Petros Souretis, CEO in Intrakat told ANA on Friday.

In an interview, Souretis, however, stressed that “its is imperative to lay the foundations for a gradual creation of a stable climate which will actively support business activity and will attract long-term investments both domestic and abroad”. He added that this could be achieved with a speedy implementation of all necessary structural adjustments, relaxing capital controls towards their gradual removal, gradually lifting tax burdens and boosting liquidity in the economy by taking advantage of modern funding tools based on a 2014-2020 community funds programme, a Juncker Plan and other European programs.

Souretis noted, however, that “the fact that some significant private projects and infrastructure projects (regional airports, Hellinikon, ports, railways) have been implementated it was a positive sign which would give a boost to the Greek construction sector”.

He stressed that the industry needed a series of basic reforms to become competitive, such as tax incentives for sales abroad, taking advantage of bank tools to safeguard the possibility of participation in tenders, flexible labor legislation for workers abroad, regulating the domestic public works market and upgrading a legislative framework for public works by adopting successful models used abroad.

Souretis said Greece has a comparative advantage in tourism, renewable energy sources and agricultural production.

“On the precondition that all primary problems were to be resolved, these sectors could become a basic wealth source for the country and an excellent field of investments. Greece was and will be, globally, the most desirable holiday destination and tourism. I don’t understand while in these crucial sectors, governments do not exploit successful technocrats,” he noted.

He said that focused real estate and particularly the development of luxury holiday houses, along with the development of hotel units in selected “golden” destinations, despite an adverse economic climate, is attracting significant investment interest and has great growth outlook.

Intrakat, through its subsidiary Intradevelopment, has begun activities in the real estate sector, investing both in the construction and management of house and hotel complexes in high-end regions such as Mykonos and downtown Athens. Intrakat also invests in the tourism and renewable energy sectors, such as infrastructure projects, joint public-private sector projects (telecommunications networks and telematics), renewable energy sources, joint public-private sector projects in waste management and development of boutique hotels in selected tourism destinations.

Intrakat has also decided a series of actions such as merging subsidiary and focusing on cutting-edge sectors, high technology sectors and infrastructure projects (airports, ports and railway lines).