Greece and the United Arab Emirates are considering dozens of investment projects. The relationship has gone a long way since they signed, less than a year ago, a declaration on a joint partnership and a cooperation agreement on foreign policy and defense issues.
The Greek side gives priority to energy – including renewables – tourism, hi-tech, infrastructure, real estate and deals with small and medium-sized enterprises. Greek diplomats say that the Abu Dhabi Developmental Holding Company (ADQ) is assessing investments in Greek pharmaceuticals, ports – notably the port of Iraklio, on the island of Crete – logistics, airports and highways. ADQ is also in direct contact with the Environment and Energy Ministry on investments in the energy sector.
In May 2022, ADQ signed a strategic investment cooperation agreement with the Hellenic Development Bank and the Hellenic Development Bank of Investments to spend €4 billion on investment projects in Greece. A master investment initiative framework that will create a joint venture fund is under preparation.
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