Renewable energy and technology are attractive investment areas in Greece for Romanian companies

Renewable energy and technology are areas of investment in Greece with special potential for Romanian-Greek economic cooperation, Ioannis Smyrlis, Secretary General for International Economic Relations of the Greek Ministry of Foreign Affairs, said on Thursday, agerpres reports.

The statement was made during a webinar on the growth of Romanian investments in Greece, organized by the Embassy of the Hellenic Republic in Bucharest.

"There is a wide range of investment opportunities in Greece, from food and beverages to pharmaceuticals and chemicals and real estate to tourism and logistics. However, I would like to highlight two areas with special potential for Romanian-Greek cooperation: 'clean' energy and technology. According to a recent study by the European Council on International Relations, Greece and Romania are the most active EU countries in south-eastern Europe in terms of climate change issues. In Greece, the clean energy program is already attracting massive foreign investment in renewable energy, Greece is implementing one of the most ambitious Green Deal plans in Europe. (...) The most significant projects will focus on modernizing the energy grid, creating smart distribution networks and promoting energy efficiency. Technology is another area where the capabilities of Greece and Romania can cooperate. Greece is a European hub for innovative start-ups, and the start-up ecosystem is attracting foreign investment from around the globe. Several international investment funds support Greek start-ups. Overall, many funding opportunities are available, including EU structural funds," said Ioannis Smyrlis.

The representative of the Greek Ministry of Foreign Affairs explained that Greece's National Recovery and Resilience Plan includes financing from European funds amounting to 30.5 billion euros.

He stressed that the Greek economy has become a very attractive business destination, in the context in which the economic cooperation between Romania and Greece is already very strong.

"The political and economic ties between the two countries are already strong, providing a solid basis for increased economic cooperation and increased investment for the benefit of both sides. Despite the fact that the pandemic has seriously affected world trade, bilateral trade relations have not been greatly affected and trade volume reached 1.8 billion euros in 2020, and is expected to increase by 15% in 2021. This is a confirmation of the confidence and strong business ties developed. between the Greek and Romanian business communities (...) Greece is a significant investor in Romania, with a total of 1.75 billion euros in invested capital. (...) We hope that there will be an increase in Romanian investments. Today, Greece's economy has become a very attractive investment destination with a very attractive business environment," added Ioannis Smyrlis.