By Ioannis Massoutis*

The long-term financial crisis has come to highlight a number of structural weaknesses of the Greek economy; weaknesses that had assumed a recurrent quality, although we knew of them. As a business community, we at least have always pointed them out, but no government was willing to address them. Today we are called upon to decide whether we want to finally move forward and embark on the train of growth or stick to old-fashioned attitudes and fight among ourselves.

Therefore, it is required to restart the economy to get back into a stage of growth. Growth can only come about by means of creating a more competitive, business-friendly environment and attracting investments that will create new job openings and the right conditions for the return of the human resources, which left our country in recent years. In addition, a more competitive environment will boost the exports of Greek goods and services.

* Ioannis Massoutis is president of Thessaloniki Chamber of Commerce and Industry (TCCI).

At this point, I must say that the new government’s indicative first actions with the recent tax reforms were a good start and gave an optimistic message to the market, generating positive business expectations. Adopting all measures necessary to implement the Government’s programming statements will send the right messages to both our European partners and the international financial markets. We have already seen the first significant reductions in interest rates.

In addition, measures must now be taken to restore market liquidity. We were very pleased to hear about the decision to abolish capital controls, which, in combination with restoring confidence in the state, will assist in the repatriation of funds to the Greek banking system. At the same time, the repayment of public debt to the private sector should be accelerated, nonperforming loan restructuring should work more effectively, the out-of-court settlement should be speeded up in cooperation with the chambers, and the possibility of lowering the tax advance payment for all legal entities should be considered.

However, we are also waiting for measures in order to finally crack down on smuggling and illegal trading. These two plagues are directly linked to tax evasion, social security contribution evasion and corruption that deprive the state of -6-8 billion in revenues each year.

Regarding Thessaloniki and the local economy, it should be noted that the city has great growth prospects because it has significant comparative advantages. Unfortunately, however, the city is far behind in infrastructure, so ‘its advantages have remained untapped for many years. I have repeatedly stressed out that the growth of Thessaloniki and its development into a large business and cultural centre for SE Europe will be based on five pillars: the port, the International Exhibition and Congress Centre, the airport, the innovation zone and the underground railway.

Taking into consideration the concession of the airport and the port, the first steps were already taken. A few days ago we were delighted to hear that the renovation of the International Exhibition and Congress Centre was among the Government’s first goals in the field of urban redevelopment.

Finally, I will mention once again the need to upgrade the Innovation Zone. It is only by establishing strong incentives to deploy innovative businesses from the wider region and by securing the relevant funding initiatives and tools that this project will take shape.

The contemporary trains that have upgraded the Thessaloniki railway connection and brought it closer to Athens has already begun to operate with the concession of the public company TRAINOSE SA. We are also waiting to see the implementation of projects that will link the port of Thessaloniki with the former Gonos Camp and the rest of the railway network, while also redeveloping the area around the former camp.

At the same time, other smaller projects, such as the redevelopment of Liberty Square, the Holocaust Museum, the Modiano Market, etc., have been launched, bringing about a wind of development to our city.

Thus an atmosphere of positive expectations is created for the local economy. Moreover, if one looks at the positive expectations created by the new Government’s announcements and the first indicative actions for creating a friendlier business climate in the country, we can look to the future with more optimism.

The 84th Thessaloniki International Fair is being organised in this context. It is a highly significant economic and political event that brings Thessaloniki to the forefront every year, making the city the podium where each Government announces its financial programme. So this year’s Exhibition is gaining even greater importance because of the increased positive expectations of the business world. India, one of the largest and fastest growing economies in the world, was chosen as the Honoured Country of the 84th Thessaloniki International Fair. This choice aspires to turn the Thessaloniki International Fair into a business platform to strengthen economic and trade cooperation between India and Greece.

In this context, and in the aftermath of its previous highly successful participation in previous events, the Chamber of Commerce and Industry of Thessaloniki, as a business body that believes in the institution of the Thessaloniki International Fair, has decided to rent a large exhibition space at Stand 16, with a net area amounting to 740 sqm. This is to house its businessesmembers from all sectors and subsidies their participation in the event. I am confident that the 84th Thessaloniki International Fair will be extremely successful, exceeding all expectations.