Alpha Bank announced a strategic partnership with UniCredit aimed at enhancing support for Greek businesses seeking to expand internationally. The collaboration provides access to 13 major European markets, including Italy, Germany, Austria, the Czech Republic, and Hungary.
During the Export Summit X, Alpha Bank's Chief of Commercial Banking, Tilemachos Georgakis, emphasized the necessity for Greek enterprises to become more outward-looking and competitive. He noted that the Greek market is limited, representing only 1.3% of the EU's GDP, making international expansion crucial for many businesses.
Georgakis explained that growth could be achieved through organic development or mergers and acquisitions, with the latter offering immediate access to new markets and technologies. However, he acknowledged the challenges of merging, particularly for owners transitioning to shared management roles.
He also addressed Greece's significant investment gap of €94 billion, stressing the need for structural reforms to facilitate new investments. While foreign investments have exceeded €25 billion since 2019, they often focus on acquisitions rather than new production ventures.
Georgakis identified persistent structural issues, including a complex tax system and bureaucratic obstacles, as barriers to attracting investments. He concluded by highlighting the importance of addressing these challenges to leverage the current positive momentum in the Greek economy.