With the message “Together we achieve more” #SEV4GROWTH took place at BSE General Assembly Open Eventtoday (Thursday, October 24, 2024), at the Athens Concert Hall.
The event was attended by the SA President of the Republic, Mrs. Katerina Sakellaropoulou.
The event was welcomed by the Prime Minister Mr. Kyriakos Mitsotakis.
In his intervention, the President of SEV, Mr. Theodoropoulos highlighted that Entrepreneurship today is experiencing unprecedented uncertainty in an increasingly less predictable environment. “Geopolitical upheavals, climate change and other factors, such as technological developments in the Far East and India, and the economic cold war between the US and China, are causing major upheavals in business life. At the same time, investment competition intensified on the US side and beyond. The urgency of the commitment for the European Union is explicitly highlighted in the Leta and Draghi reports. It’s a clear message that we agree with: Europe must change and it must change now».
Mr. Theodoropoulos mentioned that In this difficult environment, Greece has achieved significant progress in recent years. For example, obtaining primary surpluses, reducing unemployment, guaranteeing resources for the economy through the Recovery Fund and QREN, obtaining investment grade, improving Greece’s image internationally, repositioning the Greece on the world map as an investment destination and the increase in Foreign Direct Investments.
Referring to Industry, Mr. Theodoropoulos highlighted that the sector contributes a lot, supporting the economy and employment. As mentioned, the industry represents 13.4% of Greece’s GDP, employs, directly or indirectly, 1.1 million workers, ranks first in the country’s exports of goods and services and records a tripling of R&D expenditure in recent years. years.
However, emphasized that, despite progress, there is still room for significant improvements and referred to both the perennial problems faced by companies just like in the newssuch as the high cost of energy and its large fluctuations, the lack of workers of all specialties and the difficulty for SMEs (small and medium-sized companies) in securing sufficient bank financing. “At the same time, the Greek economy continues to face two critical challenges: improving the current account balance and increasing productivity. We, as a country, need to produce more internationally competitive products in order to increase exports and replace imports. A rapid and immediate increase in productive investments is necessary, especially those that create greater internal added value. This type of investment will allow an increase in productivity, which, despite improving, remains low.” He added that productivity is the most critical factor in improving workers’ income.
Sir. Theodoropoulos recognized that recent announcements from the Ministry of Development are moving in the right direction. He added, however, that Greece needs to make an immediate investment leap that lasts beyond the Recovery Fund. In particular, he proposed excessive depreciation on productive investments as a complementary investment toolwhich will act regardless of the size of the company, the sector and the region, whether for expansion – modernization of an existing activity, or for the creation of a new one and will emphasize the priority use of companies’ own resources with tax incentives instead of subsidies.
The President of BSE highlighted the importance of cooperation for a prosperous society and economy and called on social partners and the State to create a new social contract for the benefit of all.
Concluding his speech, addressed businesspeople, highlighting that regardless of the incentives that the State gives, the responsibility for improving productivity remains individual. “We need to invest more, in our businesses and in our people. Transform our companies even faster, adopting technological solutions, digital transformations and seeking innovation.”