SEB: Greece has huge opportunities for investments
Greece has huge advantages and many opportunities for investments, according to the Federation of Hellenic Enterprises (SEB).
However, Greece lacks a regulatory framework to safeguard a minimum competitive profitability in relation with the rest of the world from investments in sectors producing internationally-commercial goods.
In a weekly bulletin on the economy, SEB said that Greece lacks confidence in the productive forces and the stability and duration of implementing economic policies.
Investing in industry is the starting point for the development of the Greek economy, SEB analysts said. Noting that the setup of an Industry Council – acting in parallel with the Industry ministry, and activating people in the production sector Greek economy – will be advanced.
Commenting on budget execution, SEB said that September figures showed a gradual weakening of revenue. Moreover, a significant increase in new overdue tax debt to the state could be attributed to the inability of state agencies to collect revenue because of the introduction of capital controls in the country.
Furthermore, SEB underlined that the country has great potential and remarkable human resources, but lacks entrepreneurship.
A series of surveys showed that conservative minds, low tolerance and the fear of failure were not characteristics of creating societies and robust business activity.
At the same time, state interference added to the problem, creating obstacles to lead the country into becoming a ‘European California’ where dynamic enterprises and innovative creativity will co-exist.
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