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Country Presentation (Greece)

Eastern European Think and Act TankNY, 24 April 2008

Presented by Vassilios Sitaras, Vice Consul, The Greek Trade & Economic Office in NYC

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General Information Cont’d 2 Top 6 foreign investors by country:

Germany, France, UK, USA, UAE, Egypt Top 7 foreign investors by company:

Orascom Holdings, Deutsche Telecom, Credit Agricole, Dubai Investment Fund, Starwood Hotels, BC Partners, AXA

Growth industries with high potential for FDI: Banking, Telecoms, Tourism, Energy

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Greece as the “springboard” to the Balkans and the Black Sea area In SE Europe, more than 3,500 Greek companies have

invested more than 13 b. euros ($ 20 b.) since the early 1990s in both production facilities and services

Greek banks operate a network of 1.200+ branches in SE Europe (excluding Turkey, where the 3 out of 4 major Greek banks, NBG, Alpha Bank and EFG Eurobank Ergasias have invested $ 7.5 b.)

In 2002, Greece initiated a 550 m. euro (about $ 850 m.) economic reconstruction program for the Balkans named ESOAV which is still active (of this, 70% goes to big infrastructure works and 30% to subsidize Greek FDI in the region)

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Main strategy to attract US investment Industries most attractive for US investors

are tourism, education, IT and telecoms, health, banks & renewable energy

At the end of 2006, FDI stock from the USA was a little over $ 2 b.

Top US companies in Greece include Citibank, Starwood Hotels & First Data

The 3 Greek Trade Offices in Washington, New York and Chicago are planning a series of events to attract potential US investors