1. 1 HELLENIC CENTRE FOR INVESTMENT GREECE: THE NATURAL LINK FOR INVESTMENT TO SOUTHEAST EUROPE Haris Issaias General Manager New York October 2000

2. 2 Total population 267 million A 1½ hour flight from the north of Greece takes you to: 52m 4m 5m 0,6m 4,5m 11m 2,1m 9m 62m 57m 23m

3. 3 WHY GREECE International business confidence Massive Infrastructure Program Olympic Games 2004 Investment Incentives Human Resources an exceptional asset ELKE

4. 4 International business confidence- Improvement in macro-economic variables GDP growth rate 2.0% in 1994 to 3.5% 1999 and 3.8% 2000 (projected) Inflation 10.9% in 1994 to 2.6% in 1999

5. 5 International business confidence Improvement in macro-economic variables Interest rates on 12 month treasury bills 17.5% in 1994 to 5.6% October 2000 Government Deficit 11% in 1994 to 1.5% (of GDP) in 1999 Total investment growth -2.8% in 1994 to 11% 1999

6. 6 Infrastructure New Athens International Airport - $ 2.2 bn (operative March 2001) Patras -Athens-Thessaloniki motorway ($2bn) South -North Greece Egnatia motorway(East-West Greece) is the link between the EU and the Balkans Total length 680 km

7. 7 Infrastructure New Athens metro network (March 2000) Athens ring-road (Spata-Elefsina) EU Third Community Support Framework Budget: 48bn EURO Hellenic National Telecommunications Organisation network is fully digitalised

8. 8 Investment Incentives Cash grants from 15% to 45% of total investment cost and interest rate subsidies from 15% to 45% of the long- term loan or Tax allowances on profit from 40% to 100% Incentives vary according to location sector employment created

9. 9 Investment Law eligible undertakings Construction-extension of buildings Purchase and installation of new machinery and other mechanical and technical production equipment (incl. computerisation) Construction of new storage areas Purchase of new means of transport for the movement of materials and workers Expenditure of transfer for Know-How, licensing Engineering expenditure

10. 10 Investment Opportunities by sector Primary sector Mining (bauxite, bentonite, perlite, gold) Secondary sector Food processing Specialty chemicals Information technology software Energy Tertiary sector (services) Tourism (Conf. & Exhibition centers, agrotourism, marinas) Telecommunications (50% of the population owns cellulars) Health care and management

11. 11 Human Resources an exceptional asset 25% of the Greek labor force has a university degree 94% of Greek managers have graduate degrees, 54% post graduates 45% of Greek managers speak a foreign language

12. 12 ELKE Promotes direct investment (foreign and local) into Greece Administers applications for cash grants for projects exceeding GRD 3 billion (approx. $ 8m) or GRD 1 billion ($ 2.5m) and at least 50% of equity is in foreign capital Supports investment projects at implementation stage Facilitates the co-operation between Greek and foreign business interests in the region May act as advisor to the Government on changes to the legal and regulatory framework regarding investment

13. 13 OTHER ADVANTAGES Low labor costs. (the 2nd lowest in EU) Low marginal effective tax rate. Comparatively low cost of living. Enhanced life-style. R& D support through acknowledged universities & academic institutes

14. 14 The regional market (Balkans excl. Greece) Total consumer population- 131 million Total GDP - $ 328 bn Average GDP per capita- $ 2,504.00

15. 15 Greece’s role in the region Strategic objective to play a vital role for the region. Greece is the point of political and economic stability in the region. Greece is the only European Union(EU) member state in the region. Member of all Western defence structures.

16. 16 Strategic partner Greek government actively promoting Greek economic interests and combined Greek and foreign interests Greek fund for the region: $ 500 m Longstanding ties combined with practical understanding gives Greek business a leading edge Partnerships with Greek business in the form of joint-ventures or other agreements

17. 17 More than 2500 companies in the sectors of: Pharmaceutical Telecommunications Tobacco Clothing Insurance Info-Technology Agribusiness Mining Paper packaging Healthcare Greek business interests in the region

18. 18 Greek business interests in the region