Rösler plans special investment for Greece

Rösler plans special investment for Greece
Photo: DPA
German Economy Minister Philipp Rösler is reportedly working on a 16-point plan to encourage German companies to invest in Greece, including the idea of setting up special economic zones.

Just hours after the eurozone countries agreed a €109 billion rescue package for the Greek economy, business daily Handelsblatt on Friday reported Rösler was preparting to launch a type of Marshall Plan for the trouble country titled: “Investment and Growth Offensive for Greece.”

The paper, which said it had seen the plan, reported that its stated aim was to produce inducement for firms in order get them to contribute to increasing Greek economic growth in the long term.

The first step would be to organise a investment conference with the top business organizations in Germany. Rösler said he had already secured the ‘advisory support’ of the Greek government in connection with the privatisation of state assets, the paper reported.

German industry on Thursday displayed its enthusiasm to work in Greece, with the Federation of German Industry (BDI) saying the rescue package agreed by the eurozone countries was only one element of what was needed.

“We also urgently need an investment programme, a business plan, a plan for the reconfiguring of the Greek economy,” said BDI manager Markus Kerber.

The country should not only be able to bear its debts, but with the help of a different economic model, should also be able to achieve earnings in order to reduce its debts in the long term, he said.

Rösler said the organisation ‘Germany Trade and Invest’ was going to help Greece attract investors. Particularly interesting sectors include renewable energy, power station construction, energy efficiency, as well as tourism, telecommunications and transport.

Rösler’s plan also includes an EU-wide investor conference, to be set up with the German government, one aim of which will be to examine the idea of establishing model regions which would have special regimes. They would have their own specific laws covering labour, tax and planning, and have a single contact for investors.

The Local/hc

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