Qatar is investing in Greece economy

The "Our World" newspaper announces that Qatar investors have concluded an agreement concerning huge investments in the economy of Greece, the Athens News Agency reported.

According to the agency, Qatar will invest 1.2 billion of euros in the company dealing with development of gold deposits in northern Greece, which should bring the country about 1,500 new working places.

The Investment Agreement has been signed in Athens in the presence of George Papandreou the Greek Prime Minister and the Hamad bin Khalifa Al Thani - the Qatar Emir.

The deal is being made in time when Greece tries to reduce the budget deficit and to get EU and IMF loans and to avoid the default. Greece has also committed to privatize state assets by 50 billion of euros in the near years. However, the current difficult financial situation of the country does not deter the Qatar investors, who have been prolong the Greece investment agreement for a year already and now they are implementing the first planned projects.

Earlier Qatar expressed interest in acquiring of a seaport, but the deal never took the place. Also, the Qatar investors interested in investing into real estate in the former international airport territory of the Athens, - Riviera, but negotiations didn't progressed far enough to hand out on the deal closing.

14 October 2011
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