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General News

Capital Link’s 24th Annual Invest in Greece Forum Highlights Growth & Opportunities

NEW YORK – Capital Link’s 24th Annual Invest in Greece Forum, entitled “Sustaining Growth & Investment Momentum,” took place with great success and great participation on December 9 as an in-person event at the Metropolitan Club in New York, in co-operation with the New York Stock Exchange, the Athens Stock Exchange, and major global investment banks and organizations.
The Forum was organized with the support of the General Secretariat for Greeks Abroad and Public Diplomacy – Ministry of Foreign Affairs, under the auspices of the Consulate General of Greece in New York. JP Morgan and Tsakos Energy Navigation (TEN) Ltd. were lead sponsors of the Forum which also receives the strong support of the Greek business and financial community and has become an international summit about Greece through the years.

With a 24-year track record of success, the Forum has been engaged in a systematic effort to highlight Greece’s profile to a global business and investment audience. The event gathered top level executives from the business world, bringing together a number of international investors, entrepreneurs, banking executives, technocrats and Government officials from Greece, Europe, and the United States. The Forum’s agenda featured top level speakers who addressed a global audience discussing topics of major importance.

Greek Minister of Development and Investment Adonis Georgiadis at the podium during Capital Link’s 24th Annual Invest in Greece Forum at the Metropolitan Club in Manhattan. (Photo: TNH/ Christodoulos Athanasatos)

Among those participating in the Forum, Prime Minister of Greece Kyriakos Mitsotakis opened the Forum with an address via video and Minister of Finance Christos Staikouras was the keynote speaker of the conference. He presented the Greek government’s economic strategy in his speech titled Government Economic Policy & Objectives.

Minister of Development and Investments Adonis Georgiadis and Nikos Stathopoulos, Chairman of Europe – BC Partners, were the keynote speakers at the formal luncheon.

Introductory speeches were made by NYSE Vice Chairman and NYSE Institute President John Tuttle, ATHEX Group CEO Yianos Kontopoulos, Founder, President & CEO – TEN Ltd. Dr. Nikolas P. Tsakos, and JP Morgan Managing Director and Global Head of Payments Takis Georgakopoulos.

In his remarks, Prime Minister Mitsotakis noted that “this is the fourth time I have had the opportunity to address the Annual Capital Link Conference as Prime Minister, and I am more confident today than ever before that Greece is on the right track.”

“As we head towards 2023, we sit at the top tier of European Union countries when it comes to growth – 8.4% in 2021 and 5.6% in 2022 according to the latest projections,” PM Mitsotakis said. “Unemployment continues to track downwards, indeed it has dropped about five points, to the lowest level since 2010. Last year proved a record year for inward Foreign Direct Investments, worth some 5.3 billion Euros. We are on track to break that record again in 2022.”

Governor of the Independent Authority for Public Revenue Giorgos Pitsilis and Mary Vaxevanidou of the Greek Press Office at Capital Link’s 24th Annual Invest in Greece Forum. ( Photo: TNH/ Christodoulos Athanasatos)

“And according to the latest official EU forecast, by the end of 2023, Greece is expected to be the EU country with the biggest cumulative decline in debt as a percentage of GDP since 2019,” Mitsotakis continued. “We are proud of what has been achieved and believe there is much more to come. The credit for this progress lies with the Greek people and Greek businesses. It is progress that has been achieved in an incredibly short period of time.”

“In spite of the headwinds and the multiple crises we have faced, Greek companies have proved to be resilient throughout, and are now much more globally competitive. Exports have more than doubled to reach nearly half of GDP, a level higher than many other EU countries,” he said. “The vast majority of Greek citizens – despite the hardships they went through – have shown a level of maturity that has enabled Greece to remain at the center of the EU. And thanks to their choices, and their endeavors, populism was thankfully defeated in Greece.”

Greek Finance Minister Christos Staikouras and other government officials ringing the closing bell at the NYSE on December 8. (Photo: Courtesy of Capital Link

“But it is equally true that change would not have come as rapidly, without the structural reforms that we have put in place over the last three years, with nearly 400 bills voted through parliament,” Mitsotakis noted. “Reforms that have removed unnecessary obstacles, eased the tax-burden for businesses and citizens, and dealt with long-standing deficiencies of the Greek state. It is no coincidence that Greece topped the Economist Intelligence Unit list of countries that saw the biggest improvement in their business environment over the past three years.”
“While Greece’s standing in the world has changed significantly for the better, we cannot ignore the fact that we live in a turbulent world,” he said. “Inflation has reached multi-decade highs across the globe. Russia’s illegal invasion of Ukraine has contributed to an energy crisis that puts all our economies under pressure. And political instability is once again on the rise in many parts of the world.”

“Against all that, Greece is much better prepared to deal with a difficult 2023,” Mitsotakis noted. “We are projecting continued economic growth of 1.8% despite the global economic turmoil. Our fiscal house is in order. And our appetite for reforms continues unabated.”

“As you all know, 2023 is also an election year for Greece,” Mitsotakis said. “We are confident that the Greek people will renew their trust in us, and that the course we have set over the past three years will not be derailed. Because good policies do matter. They have a real effect on people’s lives. And despite the multiple crises we have faced, the results of those policies are showing through.”

“More than ever this is the time to invest in Greece. We have proven we can deliver change. Be in no doubt: we will continue on the path of stability, consistency and reform. Because only that path will continue to grow our economy, and because only that path will make our country stronger. Thank you,” Mitsotakis concluded.

The New York Stock Exchange welcomed Greek government officials, executives, and guests for Greek American Issuer Day, December 8. (Photo: NYSE)

Within the context of the 24th Annual Capital Link Invest in Greece Forum, the New York Stock Exchange in cooperation with Capital Link organized for yet another year, a special ceremony in honor of Greece, titled Greek American Issuer Day at the New York Stock Exchange. Dr. Nikolas P. Tsakos, Greek Finance Minister Christos Staikouras, and Yianos Kontopoulos, CEO of the Athens Exchange, rang the Closing Bell to end the trading session at the NYSE on December 8. Among those present were NYSE Vice Chairman and President of NYSE Institute John Tuttle, Alternate Minister of Finance Theodore Skylakakis, Deputy Minister of Development & Investments Yannis Tsakiris, Ministry of Tourism General Secretary Olympia Anastasopoulou, Chair of the Hellenic Capital Markets Commission Dr. Vassiliki Lazarakou, Consul General of Greece in New York Konstantinos Konstantinou, and representatives of NYSE listed companies Marina Hadjipateras – Dorian LPG, Steve Demetriou – CEO, Jacobs as well as Capital Link Managing Director Olga Bornozi and Capital Link President Nicolas Bornozis.

The event was broadcast live on major news stations in the United States and abroad to an estimated audience of 150 million viewers worldwide.

Video is available online: https://forums.capitallink.com/greece/2022/NYSE_Bell.mp4.

More information about Capital Link’s 24th Invest in Greece Forum is also available online: https://forums.capitallink.com/greece/2022/index.html.

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