German-Hellenic chamber: Investments require right conditions and fundamental reforms

Foreign investments will not come if the right conditions are not met and fundamental reforms are not implemented, general manager of the German-Hellenic Chamber of Industry and Commerce Athanasios Kelemis said on Friday at the two-day Capital & Vision congress in Athens.

“Foreign Investments will not come, or will not come to the extent necessary in Greece, if the right conditions are not met,” he said, adding that “the efforts towards growth will also stagnate if the important reforms are not implemented decisively and if there is no understanding that the tax-giving ability of healthy businesses and citizens has reached its limits.”

Kelemis said the chamber held nearly 900 targeted business meetings the last three years in the sectors of tourism, energy, the environment, technology and farm economy to make new inroads for Greek exporting companies in the eurozone’s largest economy, Germany. To that end, a lot of support was provided to Greek businesses to participate in large international trade fairs in Germany and elsewhere; 450 businesses attended German fairs. Another initiative involving German and Greek agencies and foundations seeks to fight unemployment with the placement of individuals in programs leading to training, specialization and jobs, he noted.

In addition, more trade delegations are being prepared for 2018 – to the Far East and Southeast Asia, three large South American markets, and two Gulf countries, he added.

Germany’s share in Greek trade overall is on a stable growth curve, reaching 9.8% in 2016. Their volume increased by 3.8% in 2016, with Greek exports rising by 3.2% and imports by 4.1%.

Kelemis said that Germany has historically been a consistent investment partner of Greece. German companies have invested over 3 billion euros in Greece, providing work for 28,000 workers and turnover of over 12.5 billion euros.