Ioannis Tsamichas – The Strongholds of the Greek Economy

GREECE – ITALY: PROSPECTS, INNOVATION AND INTERNATIONAL TRUST

I would like to warmly thank Business Direction Network and Papalios Media Group for the honor of including me in their annual feature and publication insert. Such initiatives contribute significantly to strengthening the dialogue between business leaders, highlighting opportunities, and fostering synergies for sustainable growth.

Italian companies consistently choose Greece, with the neighboring country also set to remain in 2024 the top destination for Greek exports.

In today’s transitional period, the Hellenic-Italian Chamber of Athens and the Tsamichas Law Firm emphasize that the close cooperation between Greece and Italy can function as a “development lever” of competitiveness and innovation, with the goal of legal security and strengthening strategic partnerships.

Greece in 2025 is a country that continues to prove its resilience. With steady growth rates above 2%, reduction of public debt as a percentage of GDP, and a dynamic economy, Greece sends a clear message of stability, growth prospects, and strong international credibility. Investments from the Recovery Fund, European support, private capital, as well as the new law on state aid and the control of foreign investments (Law 5020/2025), are creating the conditions for development in sectors such as energy, infrastructure, and digital technology.

In this context, Italy is a key commercial partner, but also a strategic ally. The recent bilateral agreements during the visit of Prime Minister Kyriakos Mitsotakis to Rome and his meeting with Prime Minister Giorgia Meloni confirm this partnership. A flagship initiative is the Greece-Italy electrical interconnection (GR-ITA II) as well as major road, rail, and port projects with Italian technological contribution, strengthening Greece’s role in Southeastern Europe as a hub of commercial exchanges and innovation ecosystems.

At the same time, international groups are implementing large projects in Greece, proving the country’s growing investment appeal. A prime example is the new Data Center hub in Metamorfosi, Athens. The project was undertaken by the Italian group TECNO ITC TERNA (Italy-Greece). The new infrastructure ensures the digital transition, while at the same time creating hundreds of new jobs. Equally emblematic is the Thessaloniki Metro project, where the Italian company Hitachi Rail plays a leading role in the technological development of transport and the implementation of sustainable urban mobility.

In the same development spirit fall also the investments of Italian companies Mapei S.A. and ENELON, which strengthen their industrial and manufacturing presence in Greece.

The Hellenic-Italian Chamber of Commerce actively supports the strengthening of member relations by organizing investment and networking events. A recent highlight was the official dinner in Athens with the Deputy Prime Minister of Greece, Kostis Hatzidakis, who praised the Chamber’s decisive role in further promoting economic cooperation between the two countries.

Italy is already one of the most important export destinations for Greek companies, while Greek exports to Italy continue to rise dynamically, reaching 10.5% of total exports in 2023. Italy consistently ranks in the top four export destinations for Greece.

The Hellenic-Italian Chamber of Athens remains a fundamental vehicle for strengthening the commercial footprint of Greek companies in Italy, while simultaneously enhancing the Italian business presence in Greece. With the support of the Union of Italian Chambers of Commerce abroad, bilateral trade between the two countries exceeded €10 billion last year, further facilitating the implementation of investments.

IOANNIS TSAMICHAS
President of the Hellenic-Italian Chamber of Commerce of Athens