22 October 2017
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Strong industrial growth potential for northern Greece

06 October 17 - RE+D Magazine
Strong industrial growth potential for northern Greece

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Antulio Richetta

Director IBI Group
The manufacturing sector can contribute 12 pct of the country's GDP by 2020, Athanasios Savvakis, president of the Federation of Industries of Northern Greece (FING) said on Thursday, while warning of the dangers threatening the sustainability of industrial firms, with manufacturers shutting down their operations in large numbers over the last 15-odd years.

 

Addressing the 2nd Thessaloniki Summit, Savvakis presented the first figures to emerge from an ongoing FING survey in northern Greek cities, tracking the condition of manufacturing firms from 2000 to the present. More specifically, in the Evros region, the percentage of company shut downs was 63 pct, in Rodopi 34 pct, in Kilkis 50 pct, in Ioannina 22 pct, in Kastoria 21 pct, while in the Sindos industrial zone in Thessaloniki only 70 pct of enterprises continued operations compared with the past.

"Industrial policy cannot begin and end with public/private partnerships. We can make the manufacturing sector contribute between 8.9-12 pct of the country's GDP in the next 3-4 years and manufacturing must become a top priority," Savvakis said, adding that another goal should be the production of goods for international trade.

He noted that investment opportunities and business innovation will lead to the acceleration of the country's growth outlook, strengthen the labour market, boost partnerships and urged a political consensus on reconstructing production in the country.

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