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HomeEconomyMemorandum of cooperation for the national recovery plan with the Greek-German Chamber

Memorandum of cooperation for the national recovery plan with the Greek-German Chamber

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In the context of their institutional and operational role, the Recovery Fund, the Ministry of Development & Investments, the Ministry of Foreign Affairs and the Hellenic German Chamber are invited as contracting parties to make the most of their know-how, infrastructure, experiences and capabilities, in order to undertake initiatives and actions to be implemented in matters related to the National Recovery and Resilience Plan “Greece 2.0”.

Memorandum of Cooperation (MoU) to develop closer cooperation on issues related to the National Recovery and Resilience Plan “Greece 2.0” were signed by the Minister of Development & Investments, Mr. Adonis Georgiadis, the Deputy Minister of Finance, responsible for the Special Service for the Coordination of the Recovery Fund, Mr. Thodoros Skylakakis, the Deputy Minister of Foreign Affairs, Mr. Kostas Fragogiannis and the Chairman of the Board of Directors of the Greek-German Chamber of Commerce and Industry, Mr. Vassilis Gounaris.

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Present at the signing ceremony were the Deputy Minister of Development & Investments, Mr. Nikos Papathanasis, the Vice-President of the Hellenic-German Chamber of Commerce and Industry and Authorized Advisor for the Recovery Fund, Mr. Giorgos Paterakis and the General Director of the Chamber, Mr. Athan. Kelemis.

In the context of their institutional and operational role, the Recovery Fund, the Ministry of Development & Investments, the Ministry of Foreign Affairs and the Hellenic German Chamber are invited as contracting parties to make the most of their know-how, infrastructure, experiences and capabilities, in order to undertake initiatives and actions to be implemented in matters related to the National Recovery and Resilience Plan “Greece 2.0”.

The main purpose of the Memorandum of Cooperation is:

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1) Awareness-raising of German investors about the investment proposal offered by Greece through the National Recovery and Resilience Plan “Greece 2.0”.

2) Cooperation at the level of actions to attract German investors with the aim of putting Greece on the map of their investment options.

3) Cooperation – Coordination with co-competent Ministries or other State agencies to achieve the aforementioned goals.

It is noted that “Greece 2.0” includes 106 investments and 68 reforms, divided into 4 pillars, and is financed with European resources of 17.7 billion euros in non-reimbursable support and 12.3 billion euros in loan support to mobilize 60 billion euros in total investment in the country in the next five years.

The Minister of Development and Investments, Mr. Adonis Georgiadis stated:

“We met here today with the Deputy Minister of Development, Mr. N. Papathanasis, the Deputy Minister of Finance, Mr. Th. Skylakakis and the Deputy Minister of Foreign Affairs, Mr. Fragogiannis, with the leadership of the Greek-German Chamber and we signed a memorandum of cooperation, which defines the Hellenic German Chamber is our partner in the effort to advertise the investment opportunities offered by Greece in general and through the Recovery Fund to German companies.

The aim is to attract more investments from the Federal Republic of Germany in the next period to Greece.

I am optimistic that through our cooperation with the Hellenic-German Chamber, which has been consistently good and extremely useful, as it has been proven, we will soon be able to have tangible results for the benefit of Greek citizens and the Greek economy.”

The Deputy Minister of Finance, Mr. Thodoros Skylakakis stated:

“The purpose of this cooperation pact between the Ministries of Finance, Development and Investments, Foreign Affairs and the Hellenic German Chamber is to make clear to the investment community – through the initiatives we will take together – the benefits of utilizing the Recovery and Resilience Fund. In 2023 we are expected to have a new investment record, which will keep us out of recession. The National Recovery and Resilience Plan “Greece 2.0” will have a pivotal role in this venture. Already, 224 investment projects, with a total budget of 8.44 billion euros, have been submitted to the loan program, which is the largest investment tool our country has ever had. At the same time, 440 projects, with a total budget of 13.7 billion euros, have been included in the grant program so far.”

The Deputy Minister of Development & Investments, Mr. Nikos Papathanasis stated:

“Our country expects growth of 5.6% for 2022, almost double the growth rate of the Eurozone. One of the main axes of development is investment. The cooperation with the Hellenic-German Chamber contributes significantly to the attraction of investments from Germany. With the support of the Chamber, many German companies choose Greece and Germany comes to the top of the ranking of Foreign Direct Investments in our country. We want more and more new investments to create new jobs for all Greek women and men”.

The Deputy Minister of Foreign Affairs, Mr. Costas Fragogiannis stated:

“The Memorandum we signed today with the Hellenic-German Chamber of Commerce and Industry opens another door to the largest economy in Europe for Greek businesses. This is another important action of extroversion by the Greek state, in which the Ministry of Foreign Affairs obviously participates, through Economic Diplomacy, to support the national interests of Greece through the strengthening of our international economic relations”.

The Chairman of the Board of Directors of the Greek-German Chamber, Mr. Vassilis Gounaris stated:

“The Chamber’s intention is to support the government’s effort to stimulate German investment in Greece, at a time when the country seeks to maintain its economy on an upward trajectory amid adverse geopolitical conditions. Our aim is to highlight Greece as a strong and attractive investment destination, framing the information campaign for German investors with all available investment and financing tools, with the Recovery and Resilience Fund being the most important.

In particular, the Hellenic-German Chamber plans to implement regular visits and contacts in Germany with local companies as well as with representatives of the country’s economic centers. The focus of interest is expected to be investment and business schemes operating in major German cities, such as Berlin, Munich, Frankfurt, Dusseldorf, Hamburg, Stuttgart and Cologne.

I am sure that with this new initiative the investment flow to Greece will be further stimulated, with Germany remaining first among the countries of origin of direct investments in Greece. In the period 2016-2020, the net direct investments of German legal and natural persons in the country reached 5.6 billion euros and the total contribution of the member companies of the Hellenic-German Chamber amounted to 3.9% of the GDP for 2020 or value at 6.4 billion euros.

These are performances that in the coming years are sure to increase significantly, with German companies upgrading their role and position in sectors such as telecommunications, energy, pharmaceuticals, new technologies and IT, real estate, infrastructure, agri-food, retail and private insurance’.

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Janice
Janice
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.

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