![Greece’s Economic Revival Draws Investors](https://www.ot.gr/wp-content/uploads/2024/06/akropoli-1-scaled-1-2048x1366-1.jpg)
Greece’s transformation from the troubled child of the Eurozone to a promising investment hub is gaining momentum. The country’s appeal to global capital is rising, while domestic investments are also on the move, resulting in significant deals amid the Greek economy’s resurgence.
Both foreign and domestic investors are seizing the moment, ushering in a wave of significant deals across various sectors like banking, technology, food, energy, logistics, and hospitality.
Foreign investors are particularly keen on companies with strong potential and specialized expertise. Take, for instance, the acquisition of northern Greek BETA CAE Systems by Canadian Cadence for a staggering 1.24 billion euros, highlighting the allure of Greek assets.
Investment activity is palpable in Greek institutions like the National Bank of Greece, Piraeus Bank, Alpha Bank, and Mytilineos (now known as Metlen), where investment placements have turned into a multi-billion-dollar affair, attracting unprecedented foreign interest.
According to a study by PwC Greece, Greek businesses alone amassed a total of 8.4 billion euros in capital last year, with 0.9 billion euros attributed to Mergers and Acquisitions (M&A), and the remainder from Initial Public Offerings (IPOs) and privatizations.
George Lagarias, Chief Economist at Forvis Mazars Group, emphasizes the significant improvement in Greece’s global image, crediting years of concerted effort.
Yet, despite progress in reforms and bureaucracy reduction, Greece faces a critical challenge in attracting long-term investment funds genuinely committed to the nation’s development.
Investment firms and rating agencies consistently highlight the persistent issue of judicial delays, which pose significant obstacles to investment projects, often leading to prolonged procedural stagnation.
Addressing these challenges is paramount for Greece to solidify its reputation as a welcoming and conducive environment for business.
Source: tovima.com
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