While media attention focused mainly on Kyriakos Mitsotakis’ meeting with Recep Tayyip Erdogan and the background to its postponement, as well as the Greek prime minister’s speech at the United Nations, the “menu” of Mr. Mitsotakis’ four-day presence in New York had many investment courses.
Closed Mitsotakis meeting with top investors in Manhattan
On Thursday morning, at the “Aman” hotel on Fifth Avenue in Manhattan, overlooking New York’s Central Park, approximately 25 top executives from banks, investment firms and funds waited for Kyriakos Mitsotakis, along with the Maximos Mansion advisor on investment matters, Dimitris Politis, for a closed meeting. JP Morgan Chase, Paulson & Co., Lazard, Capital Group and others were there. They were, in other words, investors.
Sources indicate that executives from major multinationals and financial institutions placed particular emphasis on the issue of political stability, listening to the prime minister point out that the Greek people tried the recipe of populism, subsequently rejected it, and will not try such paths again. Mr. Mitsotakis also heard objections regarding delays in the justice system, which is a deterrent factor for major investments, and explained the changes that have been made and those being planned, so that in the future trials will be conducted and judicial decisions will be issued in much shorter timeframes.
The prime minister’s interlocutors showed particular interest in environmental legislation, with him noting that codification of the relevant labyrinthine legislation is imminent, which will clarify the landscape and create greater legal certainty.
Mitsotakis: The importance of fiscal responsibility
Kyriakos Mitsotakis emphasized during the discussion the importance of fiscal responsibility and reforms that enable the government to proceed with tax cuts and return growth dividends to citizens. He also referred to Greece’s and Europe’s position in a fluid and uncertain international environment, emphasizing the need to strengthen European defense as well as EU competitiveness.
Greece as an investment destination in technology and energy
He also made particular reference to Greece’s potential to become a significant investment destination in health technology and A.I. sectors, as a particularly active ecosystem of Greek startups has already developed in these areas. He was also asked, according to the same sources, about the government’s energy policy, as this is a field that attracts enormous international investment interest. The prime minister explained Greece’s gradual independence from lignite, investment in wind, solar and other renewable energy sources, the importance given to interconnection with neighboring countries’ electrical networks, and the utilization of natural gas as a transitional fuel on the path to achieving climate neutrality.
He analyzed the balance the country wants to achieve in its energy mix between natural gas and renewables and the ambitious electrical interconnection plans. The discussion also revolved around Greece’s defense spending and its ambitious armament program, with Mr. Mitsotakis briefly presenting the next twelve-year program and emphasizing that the goal of a minimum participation rate of 25% for the domestic defense industry in armament procurements is now being set. The previous evening, on Wednesday, Kyriakos Mitsotakis had another closed meeting with representatives of major companies operating in pharmaceutical, biotechnology and other related sectors. The meeting was hosted by Albert Bourla – together with Mark Casper of Thermo Fisher Scientific – at Pfizer’s headquarters in Manhattan’s Hudson Yards area, and investment interest in our country appeared to be high. Company executives in the discussion positively evaluated the fact that Greece has a good system with patient data, with proper specifications, which is considered crucial for investments in the aforementioned sectors.
Strategic partnerships with Gulf and India
Kyriakos Mitsotakis spoke about the important role Greece can play as a political, commercial and energy bridge between India, Gulf countries and Europe, and as a natural investment destination for Gulf countries in Europe, at the meeting organized by the Atlantic Council and Antenna Group on deepening EU cooperation with Gulf Cooperation Council member states, where he also had a constructive first meeting with the new US ambassador to Greece, K. Guilfoyle. The investment “menu” of his New York presence also included meetings with the UAE Minister of Industry and Advanced Technology, Sultan al-Jaber, Lockheed Martin president Michael Williamson, and ExxonMobil vice president John Ardill.
Published in Parapolitika
