Frangogiannis: In Saudi Arabia we created the framework for entrepreneurship to flourish

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The Undersecretary of State for Economic Diplomacy and Extroversion spoke about the positive report and the substantial results of his recent business trip to Saudi Arabia. Costas Frangogiannisin an interview today on r / s 984.

The warming of relations with the Saudis “is something we have built with a lot of work, with a lot of effort and systematically,” said Mr. Frangogiannis and stressed that one of the most important successes of the mission is to ensure the country’s energy efficiency.

Mr. Frangogiannis explained that focused business missions, such as this, mean the participation of “specific sectors of the economy, to have been properly processed by both sides, to have meetings that serve the specific goals set by each company and to we seek concrete results “. He added that “43 Greek companies participated in this business mission, 55 businessmen, a total of about 110 people, more than 300 business to business meetings took place” while there were 4 government ministers – Mr. Georgiadis, Ms. Zacharaki, Mr. Tsakiris and himself- who met 8 ministers of the government of Saudi Arabia. “So we created the whole framework in which entrepreneurship can flourish,” he said.

Of particular importance, as stressed by the Undersecretary of State, is the follow up, on the great road that enthusiastically opens a business mission “which requires a very close monitoring, which means that every business but also us in Economic Diplomacy and Extroversion, but also Ministry of Development with which we had an excellent cooperation, to create the conditions and to monitor the developments and to support each company either for export activities or for investments in Saudi Arabia, or for Saudi Arabian investments in Greece “.

This mission, as Mr. Frangogiannis explained, focused on five sectors: “tourism, infrastructure, navigation – which as we know Greece has 25% of the world fleet and Saudi Arabia produces products and hydrocarbons which are transported by Greek ships – green energy as well as issues related to high technology and respective industrial parks and food “. At this point, he expressed his satisfaction for the “very good agreement reached by ELPE with Aramco for the energy adequacy of our country, especially under the current critical conditions”.

“What we wanted to achieve with Saudi Arabia is to ensure that there is enough energy for our country and we have achieved that,” he said. When asked about energy independence from Russia, he pointed out that this is a goal promoted by the government in three ways.

“The first is with TAP who brings Azeri gas from Azerbaijan through Turkey and Greece and reaches Albania and from there to Italy and that is something that works. We are currently building two axes at the same time, one is the IGB that connects the TAP gas pipeline with Bulgaria, which is almost finished, and the second is the interconnection pipeline that connects it with Northern Macedonia, which is now starting. And at the same time we are building the FSRU in Alexandroupolis which enables in countries such as America, Qatar, Algeria, Egypt, anyone who has liquefied gas can trade it, either in Greece, in the Balkans, or in European countries. through FSRU as well as from Revythousa “. “So,” he underlined, “Greece is becoming a Balkan hub anyway, an energy hub in this direction.”

Responding to a question about the effects of the war in Ukraine, he said that “it already has effects on the Greek economy as well as around the world” that “there are 43 Greek companies operating in Ukraine that are suffering the effects of the war”, noting the “weakness Greek companies to now export their own products to Ukraine and Russia “and added that” the part of energy whose costs are rising internationally and this has an inflationary effect on the rest of our activity. “

Finally, Mr. Frangogiannis pointed out two other important developments from the mission in Saudi Arabia: “One is an investment fund that we want to create in our country and which will invest in green energy, renewable energy sources and in which they are willing for the Saudis to participate and this is something that we will open to other funds of high quality and reputation from abroad “. “The next,” he added, “is a digital cable that will start in Singapore and reach Genoa and is funded by Greece, Cyprus and Saudi Arabia and is very important for the digital proficiency and requirements that have our societies in the years we live “.

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