JEDDAH: A meeting of Saudi businessmen organized by the Embassy of Greece here on Tuesday night celebrated the strong bilateral economic ties and discussed the vast investment opportunities existing in both countries.
Jeddah Chamber of Commerce and Industry’s Vice Chairman Mazen Batterjee and Secretary General Mustafa A.K. Sabri were among those who interacted with Greek officials and business representatives on issues related to investment.
Greek Consul General Theodoros A. Michalopoulos in his welcome address referred to the strong economic ties that exist between the two countries. He and Michalopoulos and Dimitrios D. Michas, counselor, economic and commercial affairs at the Consulate General of Greece, invited Saudi investors to study the prospects unfolding in Greece.
“Greece is the gateway to southeast Europe that has a regional market with a population of 140 million,” Michas said, adding that the country provides access to the emerging and high growth markets of southeast Europe and eastern Mediterranean region.
“The country’s investment climate is positive with lots of attractive incentives for overseas businessmen. The country also has a high GDP growth,” he added. Over 4,000 Greek companies have invested 50 billion euros in southeast Europe. “With its conducive business environment, Greece has tremendous scope to attract overseas investors,” Michas added.
Energy is one sector, which offers a multiple platform for growth. Tourism, which represents 18 percent of the country’s GDP growth, is another promising sector that has unlimited potential for investors, he said, adding that technology and innovation, and food and beverages are among the factors that are rapidly evolving in the market.
The meeting held at the Jeddah Hilton had the support of the Greek Ministry of Foreign Affairs. It was held in cooperation with its office of economic and commercial affairs.
Speakers from both sides outlined the opportunities prevailing in Saudi Arabia’s booming economy despite the worldwide financial crisis. “The Kingdom’s new economic cities including King Abdullah Economic City in Rabigh have rich potential for investors,” one of them said.