The Greek Minister of National Economy and Finance, Kostis Hatzidakis, has recently announced the proposal for the creation of a National Investment Fund as part of the Growthfund initiative. This strategic move seeks to streamline government assets and enhance their operational efficacy within the Hellenic Corporation of Assets and Participations SA (HCAP).
At the 1st Growthfund Summit, Minister Hatzidakis underscored the role of the National Investment Fund in utilizing the proceeds generated by the Growthfund to promote investment ventures, particularly in the fields of emerging technologies and sustainable projects. The fund also aims to incorporate modern management methodologies and draw inspiration from leading European models.
The decision to establish the National Investment Fund was the result of an agreement with the European Stability Mechanism, which facilitated the return of Athens Water (EYDAP) and Thessaloniki Water (EYATh) to the Greek state. Consequently, the fund is poised to receive financial contributions from the state, marking a significant milestone in the country’s economic strategies.
An independent investor will be responsible for assessing the value of EYDAP and EYATh, with half of the proceeds earmarked for debt reduction and the remainder allocated to the newly established investment fund. Additionally, new legislation is anticipated to be developed by the first half of 2024, with the objective of modernizing state-owned enterprises and enhancing their overall efficiency.
The introduction of the National Investment Fund underscores the Greek government’s dedication to fostering economic growth and creating a conducive environment for investment and innovation. With a meticulously planned strategy and the endorsement of global best practices, this initiative has the potential to unlock new avenues for economic development in Greece.
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