Deputy Minister for Economic Diplomacy and Openness, Kostas Fragogiannis addressed potential investors at the two business conferences held in Riyadh on October 23 and 24, 2023, calling for investments in Greece in critical infrastructure projects that facilitate the movement of people, goods, and services and ensure conditions of stability and prosperity.
Addressing the "Transport and Infrastructure" session of the 1st EU - Saudi Investment Forum, Mr. Fragogiannis welcomed the initiative to organize the Forum, which reflects the mutual will of EU countries and Saudi Arabia to promote and enhance their economic cooperation. Specifically, Mr. Fragogiannis emphasized Greece's pivotal role in South East Europe, citing infrastructure projects such as the railway network that will connect six major ports in the Aegean and the Black Sea, the trade corridor connecting Europe with the Middle East and India, and the energy corridors being planned and constructed on land and sea.
The Deputy Minister highlighted Greece's attractiveness as an investment destination, citing the recent upgrades from international rating agencies. With regard to transport/infrastructure, Mr. Fragogiannis pointed out that according to the most recent EY attractiveness survey, logistics are the primary focus for 58% of established companies in Greece looking to expand their investment activities.
In a closed discussion attended by 20 high-ranking investment fund executives, Mr. Fragogiannis elaborated on Greece’s investment appeal, and the opportunities offered in the cutting-edge sectors of Renewable Energy Sources, green energy, and technology. The meeting was co-chaired by the Saudi Arabian Minister of Investment, H.E. Khalid Al Falih, and the Indian Minister of Commerce and Industry, Goyal, within the framework of the 7th Future Investment Initiative Forum, on October 24th, themed "Rising South: Strategies for Emerging Economies in the Era of the New Industrial Policy".
During his visit to Riyadh, Mr. Fragogiannis was accompanied by the Secretary-General for International Economic Affairs and Openness, Maira Myrogianni. They had a bilateral meeting with the Saudi Arabian Minister of Investment, H.E. Khalid AlFalih, during which they affirmed the excellent state of economic cooperation between the two sides and explored opportunities for new ventures. Additionally, they touched upon recent developments in the broader region.
While in Riyadh, Deputy Minister Mr. Fragogiannis and Secretary-General Ms. Myrogianni attended the inauguration of the new SAB bank headquarters. They had brief meetings with the EU's Special Representative for the Gulf and former Italian Foreign Minister, Luigi Di Maio, the Saudi Arabian Minister of Commerce, Majid bin Abdullah Al Qasabi, and the head of the Public Investment Fund (PIF), Yassir Al Rumayyan.
Lastly, Mr. Fragogiannis and Ms. Myrogianni had a meeting with execu
tives of the national telecommunications company, STC, regarding the EMC data cable project. They also had a working lunch with the Greek-Saudi Business Council members and their chair on the part of Saudi Arabia, Lubna al-Olayan.
October 25, 2023