Greece could benefit from the trend for de-globalization and attract important investments for the sustainable development of the country, Christian Hadjiminas, President of the Hellenic Association of Entrepreneurs (E.EN.E), pointed out during the 4th Southeast Europe & East Med Forum, which took place in Washington, USA.

In the context of de-globalization, where multinational companies transfer their activities to neighboring countries (nearshoring) or friendly countries (friendshoring) sharing the same moral values, Greece could reap this opportunity by promoting incentives and reforms for attracting foreign businesses to the country, such as the reduction of non-salary costs through a digital skills certificate and the faster administration of justice, which are constant requests of the E.EN.E., said Mr. Hadjiminas during the panel on “Greece’s new trajectory towards rebuilding its economic base and sustainable growth”.

Examples of foreign companies that have recently invested in Greece are Google, Microsoft, and – hopefully soon – Intel.

Mr. Hadjiminas also added that incentives should also be given to strengthen the extroversion of Greek companies abroad, especially in the case of small- and medium-sized companies, in order to enter major foreign markets (such as France, Germany, and the USA) and – with new investments – bring their revenue back to Greece, which will strengthen the national economy and the sustainable development of the country.

The point is that these incentives attract investments from small- and medium-sized US companies and Greek-US entrepreneurs, who already know the brand name of Greek products and feel more comfortable making industrial co-investments with Greek companies in America, something that will deepen collaborations and the possibilities of exploiting investment opportunities.

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However, Mr. Hadjiminas pointed out the problems created by the welcomed start of foreign multinationals in Greece, such as the increase in competition between businesses to attract and hire a workforce with digital skills.

However, in addition to attracting a workforce with existing digital skills, E.EN.E’s firm position is that businesses should aim to continuously upgrade their workforce by investing in new skills training programs accompanied by corresponding certificates, in order to take the appropriate steps towards the smart and sustainable re-industrialization of Greece.

Specifically, E.EN.E proposes a brave reduction of non-salary costs in employment that will be equally shared (50-50) between businesses and employees, who invest in acquiring or upgrading skills through a digital skills certificate.

Thus, Greek small and medium enterprises will be able to better compete with foreign enterprises and increase their size in order to attract the interest of even small and medium investors.

The 4th Southeast Europe & East Med Forum, which took place in Washington on February 6 and 7, 2023, was co-organized by the Delphi Economic Forum, Kathimerini, and the Hellenic American Leadership Council.

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