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Greek Prime Minister Praises COSCO Investment In Piraeus Port

Greek prime minister praises COSCO investment in Piraeus port

Source: COSCO Shipping Ports Ltd
Piraeus, Greece (PortSEurope) November 16, 2020 – The investment of the Chinese COSCO Shipping in the largest Greek port is a mutually beneficial project, which has made Piraeus an established port. Greek Prime Minister Kyriakos Mitsotakis said this yesterday at the opening of an economic forum. He added that it was a good business for COSCO, it was a good business for Greece and that Piraeus has
been transformed into a very successful port. “We were very clear. We want to make it the largest port in the Mediterranean”, he said during a panel discussion, referring to the Sino-Greek collaboration in Piraeus over the last decade. COSCO Shipping acquired the majority of the shares of the Piraeus Port Authority (PPA) in 2016 after an international tender, while the subsidiary of the Chinese company, Piraeus Container Terminal (PCT), has been managing the port’s container terminal since 2009. The image of the Piraeus has improved with the impressive results achieved in recent years, while the works for the modernization and expansion of the port continue. “It is a natural access point for goods in the eastern and central Mediterranean. We want to transform Greece into a logistic hub. Geography cannot be questioned. Ships from the Gulf or East, from East Asia, will always take 8-9 days shorter to reach Europe, so I am not willing to give up this opportunity for the country”, added the Greek leader. Mitsotakis also expressed confidence in Greece’s economic outlook, saying that through similar win-win investments, the Greek economy will see a strong recovery once the pandemic ends. “In the post-COVID world, there will be winners and losers. I am sure. I am pretty sure that Greece will be on the winning side”, he said. The prime minister believes that Greece’s recovery will be very robust. “Savings are going up in Greece, so I think people will try to spend once the pandemic is over and businesses try to invest”, he explained. The head of the Greek government said that foreign investors are seizing opportunities during the pandemic, noting that the interest goes beyond the tourism sector, traditionally one of the strong pillars of the Greek economy, to high-tech products and services as well. green economy, agriculture and more. The Greek leader participated in the fifth EU-Arab World Summit, which this year was held online due to the pandemic, together with other European and Arab leaders. Participants called for greater cooperation between the Arab world and the European Union (EU), as well as internationally, to address the common challenges ahead. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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