The Taste of Greece: 'Invest in Taste'

Greece is transforming its economy, turning from an essentially closed economy to an increasingly open economy based on Foreign Direct Investment and exports. These two pillars - foreign investments and exports - hold the keys to Greece's economic recovery, and lately the signs have been good.
After eight years of economic crisis and a brutal recession, the outlook for the Greek economy has improved. The economy emerged from recession delivering three straight quarters of economic growth in 2017 and with close to 2 per cent growth forecast for the year. In 2018, growth is expected to accelerate further.
Foreign direct investment inflows are at an eight-year high, a record number of strategic investments - totalling some Euro 3.4 billion in 2016 - have been approved, and 11 more worth Euro 3.8 billion are in the pipeline. Extending a two-year long upswing, Greek exports rose 13 per cent in the first 10 months of 2017, to a total of Euro 23.6 billion.
At the same time, the Greek government has produced a primary budget surplus, higher than initially projected, allowing it to boost investment spending. Projected public investments for 2017 are expected to rise to Euro 1 billion, up 25 per cent relative to 2016.
Demonstrating the renewed confidence in the Greek economy, Greek government bonds are trading at an 11-year low. Recently, investors responded strongly to a bond swap to replace post debt restructured two-year notes with fresh five-year issues aimed at deepening liquidity in the Greek sovereign bond market. The bond swap, combined with positive news about Greece reaching a staff level agreement with creditors and the positive GDP data, helped drive the yield on the 10-year benchmark Greek government bond to below 4 per cent, the lowest level since early 2010.
ECONOMIC TRANSFORMATION
Meanwhile, Greece is transforming its economy, as witnessed by several landmark investments that have been made over the past few years. These are projects that have put Greece on the map as an important commercial and business hub.
One such example is the privatisation of the port of Piraeus. Investment in the port, including both the initial concession and investments that are now underway, is expected to reach an estimated Euro 1.5 billion. Representing the starting point of the Maritime Silk Road, Piraeus Port has attracted several world class multinationals that have signed on to this strategic investment. The port has already recorded significant growth as a direct result, and currently ranks as the 3rd busiest container port in the Mediterranean and the 8th busiest in Europe.
In the energy sector, projects such as TAP - the Trans Adriatic Pipeline - that is now under construction, is helping transform Greece into an international energy hub. TAP, which will transport natural gas from Azerbaijan to Europe via Greece, places Greece on the regional energy map and represents a significant component in the European Union's strategy to diversify its energy resources.
Major real estate projects, with international appeal, are set to upgrade Greece's existing tourism infrastructure. These include the recent acquisition of the Astir Palace Hotel and the planned Asteras Glyfada project, both of which will further develop the so-called Athens Riviera along the coast south of the city.
Likewise, the redevelopment of the former Athens airport, a mega-project that is estimated will bring in more than Euro 8 billion worth of investment and create 50,000 new jobs, is moving ahead. So too are plans to privatise the country's largest marina in the nearby suburb of Alimos.
The privatisation and upgrading of Greece's 14 regional airports is also underway. German airport operator FRAPORT has won the bid for the 40-year concession to operate, manage, develop and maintain the facilities, with an expected total investment in excess of Euro 3 billion. American tobacco giant Philip Morris International is investing Euro 300 million in Greece with the construction of three new production lines that will serve exports to 30 different markets.
Greece possesses significant competitive advantages in key economic sectors and considering also the latest developments in the Greek economy, Greece is now a very appealing investment destination.

ENTERPRISE GREECE
We are here to help make things happen. Enterprise Greece is the national trade and investment promotion agency of the Greek state. Our mandate is twofold: one is to showcase Greece as a destination for investment, and the second is to promote products and services produced in Greece for export. We are an investor and business friendly organisation that facilitates investing and doing business in Greece. EG serves as a gateway to the country's government and public sector resources.
Enterprise Greece promotes Greece internationally as an attractive investment destination by organising investment roadshows, government and corporate missions, and other marketing events. We receive, evaluate and support applications for Greece's Strategic Investment Fast Track programme. The Fast Track programme helps accelerate the licensing procedure for Strategic Investments, making the process easier and smoother for investors.
The agency also keeps investors up to date on Greece's regulatory, tax, legal, and financial framework, and supports investors in accessing finance. Enterprise Greece also maintains and actively promotes a project portfolio, which includes projects from both the public and the private sectors.
Public sector projects mainly include privatisations and tenders for concessions in sectors like energy, infrastructure, tourism and real estate. Our portfolio of private sector projects includes opportunities in almost every sector of the Greek economy, with the majority in tourism and real estate, food and beverage industry, energy, and technology. The projects are at different stages of maturity, ranging from Greenfield investments to existing projects requiring fresh capital or refinancing.
Apart from investments, another basic pillar of Greece's economic recovery is exports. In 2017, we organised 52 Trade Fairs around the world and assisted 1,000 Greek exporters reach new markets or expand in established ones. Some of the most important sectors for Greek exports are food and beverage, building materials, technology and informatics, farm equipment, industrial maritime equipment, defence systems, hotel and catering equipment, cosmetics and beauty products, furniture, interior decorations, clothing, and fur and footwear. We strive to provide our exporters with turn-key exhibition solutions. Through exhibitions and other marketing events in Greece and abroad, Enterprise Greece works to promote the export of Greek products and services internationally. We support Greek companies by providing advice on how to reach international markets. We connect Greek exporters with potential partners.

FOOD AND BEVERAGE EXPORTS
At Enterprise Greece, we give special significance to Greece's much touted food and beverage sector. Greece's F&B industry is one of the country's most significant export sectors, commanding a strong market presence in Europe, as well as an ever-growing presence in other major international markets.
In effect, food production and processing constitute a major part of the national economy. Our goal is to showcase and raise the profile of this dynamic and promising sector as quickly and as effectively as we can. Enterprise Greece will organise the Greek delegations to 16 international food exhibitions over the coming years.
Enterprise Greece, the national trade and investment agency of Greece, is proud to welcome visitors from all corners of the world to the Greek national pavilion during this year's Gulfood trade fair in Dubai. This year, the Greek pavilion will host 63 Greek exhibitors - reflecting the ever-growing importance of the Greek F&B sector.
The message of this year's Greek delegation is: Invest in Taste. By choosing Greek food products, consumers are investing in taste, quality and their well-being. The message also serves as an open invitation to foreign investors to invest in the promising and dynamic Greek agro-food sector. As shown by both rising investment in Greece and Greek participation in international trade shows, Enterprise Greece has been working hard on implementing a coherent and integrated action plan. We will further expand those activities in 2018.

Enterprise Greece, the national trade and investment agency of Greece, is proud to welcome visitors from all corners of the world to the Greek national pavilion during this year's Gulfood trade fair in Dubai.