Mitsotakis: The time is right for Saudi Arabia to invest in Greece

Mitsotakis: The time is right for Saudi Arabia to invest in Greece

Saudi Arabia’s investment opportunities in Greece and investment opportunities for Greek companies in Saudi Arabia were at the center of talks during a meeting between Greek Prime Minister Kyriakos Mitsotakis and Saudi Arabia’s Minister of Commerce and Investment, Dr Abdul Majid Dr Abdul Majid al-Majid.

Kyriakos Mitsotakis is on an official visit to Saudi Arabia and the United Arab Emirates, closing a large round of international contacts to attract investment in Greece.

The Saudi Minister of Commerce and Investment, who was the first interlocutor of the Greek Prime Minister in the Arabian Peninsula, noted during the talks that the Greek economy has seen significant improvement as hope returns, removing the shadow of uncertainty on entrepreneurship and investment.

Al Qasabi, spoke of his love for Greece and invited the Greek Prime Minister to the preparation of the two countries, where the Greek side could suggest a list of potential investment opportunities for Saudi businessmen, so that they can examine the possibility of investing.

The Saudi Minister also noted that efforts should be made to understand the new investment environment in Greece and the facilities that support a friendly business environment, in order for investment opportunities to be highlighted. Al Qasabi informed the Prime Minister that he would prepare a business mission to visit Greece, in which he himself would participate.

For his part, the Greek Prime Minister expressed his pleasure at visiting Saudi Arabia and for the recognition that the investment climate in Greece has improved.

Kyriakos Mitsotakis noted that Greece considers Saudi Arabia a strategic partner in its bid to become an investment destination, inviting Saudi investors and the official state fund to invest in Greece.

The Greek Prime Minister noted that the Greek economy will grow significantly in the coming years and therefore the earlier the investments are made the better it will be for investors.

“Greece and Cyprus are the closest European countries to Saudi Arabia, with strong cultural and historical ties and I believe that the moment is right for Saudi Arabia to mobilize funds for investments in Greece”, the Greek Prime Minister said.

“The time is right and as you diversify your economy, look for opportunities to expand their operations in Saudi Arabia. There is a long history of Greek businesses operating in the country. Therefore, the time is right and I am sure we will have the opportunity to discuss with you, your teams and our own teams, in the coming months, in every detail, all the opportunities presented”, Kyriakos Mitsotakis concluded.

During the meeting of the Prime Minister with the Minister of Commerce of Saudi Arabia, the possibilities of cooperation in the field of tourism and logistics were discussed, where the Saudi side requested its expertise, as it wants to organize tourist areas that will not be subject to strict restrictions and they also want their country to become a logistics hub for the region. The Greek side has provided a list of areas in which Saudi funds could be invested, and next month Ministers Adonis Georgiadis and Haris Theocharis will be in Saudi Arabia to sign an investment agreement.

The meeting was attended by the Greek Minister of Development and Investment, Adonis Georgiadis, the Deputy Foreign Minister for Economic Diplomacy and Extroversion, Konstantinos Fragogiannis and the Chief of the General Secretariat of the Prime Minister’s Office, Alexis Patelis.

Accompanied by his delegation, the Greek PM, after his meeting with Saudi Minister of Commerce and Investment, visited the Riyadh Museum, where he toured the prehistoric sections of the Arabian Peninsula and the Islamic period.

The last visit of a Greek Prime Minister to Saudi Arabia was in 1991 by the current Prime Minister’s father, Konstantinos Mitsotakis./ibna