With Turkish Airlines reportedly set to snap up Greece’s beleaguered former national carrier Olympic, the Turkish Ministry of Economy is advising businessmen to invest in Greece fast, citing “bargain” opportunities with businesses wracked by a deep recession and the government set to sell of properties and state enterprises for what critics said is far less than their value in a desperate bid to bring in cash.
The ministry sent a written note to chambers across Turkey explaining the investment chances in Greece, the newspaper Hurriyet reported. The Greek government it being pressured by its international lenders to pick up the pace of a privatization program and many Greek businesses are struggling and looking for cash injections or partners.
The note said the ministry had prepared a 300-project list of potential investment opportunities over a wide range of sectors including tourism, real estate, food and export fields. The investment cost of the listed projects starts from around 2 million euros, it added.
“It has been said that some of these projects can be applied for instantly,” the note read. The ministry particularly mentioned two industrial sites planned in Crete, the largest Greek island, one close to the island’s Kastelli airport and the other in Hanya province.
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