“Sustaining Growth & Investment Momentum” is the title of this year’s flagship forum of
Capital Link, the "Capital
Link Invest in Greece Forum". The event in its 24th
year anniversary was held on Friday, December 9, 2022, as an in-person
event, at the Metropolitan Club in New York. The Forum is
organized in cooperation with the New
York Stock Exchange, the Athens Stock Exchange and major Global Investment
Banks and Organizations. Just as with last year’s event, the Forum is organized with the support
of the General Secretariat for
Greeks Abroad and Public Diplomacy – Ministry of Foreign Affairs, under the
Auspices of the Consulate General of Greece in New York. JP
MORGAN & Tsakos Energy Navigation (TEN) Ltd. are Lead Sponsors of the
Forum.
The Forum, which also receives the strong support of the Greek business and financial community, has become an international summit about Greece through the years. With a 24-year track record of success, the Forum has been engaged in a systematic effort to highlight Greece’s profile to a global business and investment audience. The event gathered top level executives from the business world, bringing together a number of international investors, entrepreneurs, banking executives, technocrats and Government officials from Greece, Europe and The United States. The Forum’s agenda featured top level speakers who addressed a global audience discussing topics of major importance.
DISCUSSION: INVESTMENT OPPORTUNITIES IN THE HEALTHCARE SECTOR IN GREECE
INTRODUCTORY REMARKS:
Mr. Vangelis Vergetis, Co-founder -
Intelligencia Inc.
KEYNOTE REMARKS:
Mr. Vassilis Kontozamanis,
Advisor to the Prime Minister for Health - Hellenic Republic
INTRODUCTORY REMARKS:
Mr. Vangelis Vergetis, Co-founder
- Intelligencia Inc.
Mr. Vangelis Vergetis, Co-founder
- Intelligencia Inc., started by talking about the larger theme: “It's an
incredibly exciting time as the biological sciences, data science, and
technology are coming together. In my view, the intersection of those areas
will define the type and magnitude of innovation in the next several decades.
In addition to that, the global healthcare system is transitioning from
focusing on treating the sick, to focusing on preventing disease.” He continued
by talking about the role that Greece can play: “Greece has most of the
ingredients to build a substantial ecosystem in the innovative
biopharmaceutical space – for example talent, infrastructure, scientists and
businesspeople with relentless drive, and a strong diaspora that can be
particularly helpful. The country will not become Boston or San Francisco
overnight, but there are several investments that can be made today. For
example, significantly increasing the clinical trial activity in the country,
attracting multinationals to invest in manufacturing plants for complex
biologics or gene therapies, creating companies to develop innovative AI-driven
products and services, commercializing true innovation that results from the
basic research conducted by universities and research centers, etc.” He then
concluded by talking about the level of commitment that this endeavor would
require: "All that said, one should not underestimate the amount of work
and long-term commitment that will be needed both by the private sector and by
the government in order to get there. For example, the research ecosystem is
fragmented and suffers with inconsistent funding, and several regulations or
behaviors come in the way of progress and the inflow of investments. A few
specific and targeted actions can go a long way in incentivizing and attracting
the type of innovation that we are envisioning.” He continued: “To be clear, I
would argue that growing this biopharma-focused innovative ecosystem in Greece
is not a matter of government funding. In fact, when done right, it has little
to do with that. It is all about attracting multinationals to invest in a
country that has the right characteristics, and attracting venture or growth
investors to back exciting innovation. In other words, it is my belief that
once we truly have world-class innovation, and once we create the right
conditions in the country, capital by seasoned international investors and
multinationals will quickly follow. We are already seeing some elements of
that, and we should strive for much more."
Mr.
Vassilis Kontozamanis, Advisor to the Prime Minister for Health -
Hellenic Republic
Mr. Vassilis Kontozamanis, Advisor to the Prime Minister for Health - Hellenic Republic:
Biotechnology,
pharmaceuticals manufacturing, digital health, clinical trials and
biopharmaceutical services present among others, high potential investment
opportunities in Greece.
The above was mentioned by Vassilis Kontozamanis, Former Alternate Minister of Health and Advisor to the Prime Minister on Health Affairs, while speaking at the 24th Annual Forum Capital Link Invest in Greece.
According to Mr.
Kontozamanis, Greece has laid the foundations enabling the country to become
internationally competitive in the field of innovative biopharmaceutical
industry.
As pointed out,
"We support entrepreneurship in the health sector, thereby strengthening
innovation, Research and Development and employment. The results of our Policy
are evident. The Greek pharmaceutical industry recently announced investment
plans of 300 million euros. Pfizer, a world-leading pharmaceutical company, has
the headquarters of an international digital technology center in Thessaloniki,
while the multinational pharmaceutical industry Boehringer Ingelheim is
investing over 100 million euros in the period 2019-2025, to expand the
production activities of its factory in Koropi Athens".
He also announced the
Government's plan, is for Greece to become a hub for Clinical Trials.
"Our goal is not
only to contribute to the advancement of medical science, but also to
strengthen the knowledge-based economy. The country holds unique characteristics such as highly
trained healthcare professionals with international recognition, world-class
facilities, and advanced medical technology infrastructure.
In addition, our focus
is to make Greece a hub in the provision of services related to Artificial
Intelligence, Big Data Analytics, Real World Evidence Data, Patient Registries,
digital health, and to create synergies with companies that interact with the
process of drug discovery, development and commercialization".
Mr. Kontozamanis
highlighted the fact that the National Health System was reinforced during the
pandemic and responded successfully under unprecedented circumstances.
"The Greek
Government is committed to a strong, efficient, resilient and value-based
health care system, that meets all citizens’ needs. The structural reforms,
currently under deployment, create a favorable investment environment.
Evidently, a significant number of international investors have already
established a strong footprint in the country", he stressed.
Greece is undoubtedly
an attractive investment destination, he said, inviting the investment
community to seize the opportunities that have arisen in the Health Sector.
FORUM OVERVIEW
“Sustaining Growth &
Investment Momentum”
The agenda, topics and structure
of this forum through 21 Sessions and 76 Top Level Speakers have been designed
to conform with investor interests and requirements. It combines the Greek and
US government perspective, with that of private sector executives,
international financiers and international investors. Greece has made a notable
rebound in the eyes of both the global capital markets and the international
investment community in recent years. The impressive number of incoming
American investments in the country proves that the government's efforts to
improve the business and investment climate have been more than effective. The
significant transformation of the country’s investment and economic climate has
resulted in a flurry of new and exciting investment activity in the country,
signaling a new path forward for Greece, one of modernization, stability, and
trust. This new era of economic growth is due in part to ambitious reforms,
immense brainpower and entrepreneurship, and hope for the future in Greece,
making the country an appealing destination for foreign investors.
H.E. Christos Staikouras, Minister of Finance, Keynote Speaker of the Conference, presented Greek Government’s economic strategy, and his speech was titled “Government Economic Policy & Objectives“.
H.E. Adonis Georgiadis, Minister of Development and Investments, and Mr. Nikos Stathopoulos, Chairman of Europe - BC Partners were the Keynote Speakers at the formal Luncheon.
Introductory Speeches were made by: Mr. John Tuttle, Vice Chairman – NYSE ; President NYSE Institute, Mr. Yianos Kontopoulos, CEO - ATHEX Group, Dr. Nikolas P. Tsakos, Founder, President & CEO - TEN Ltd., and Mr. Takis Georgakopoulos, Global Head of Payments, Managing Director - JP Morgan.
One-On-One Meetings
The
Conference provided foreign investors with the opportunity to network through a
variety of "one-to-one meetings" with Institutional Investors
representing large foreign funds with investment interest in Greece, with
listed and non-listed companies, as well as with members of the delegation of
the Greek Government. In cooperation with the investment banks that support the
Forum, group sessions were organized for: H.E. Christos Staikouras, Minister
of Finance,
accompanied by Mr. Michael Arghyrou,
Chairman of Council of Economic Advisοrs • H.E.
Adonis Georgiadis, Minister of Development and Investments •
H.E. Theodore Skylakakis -
Alternate Minister of Finance • H.E. Konstantinos Skrekas -
Minister of Environment & Energy.
Greek American and International Media
The representatives of the government and of the
participating companies met with the Greek American Media that covered the
Forum as well as with representatives of International Media. H.E. Christos Staikouras, Minister
of Finance gave interview to Bloomberg. H.E. Konstantinos Skrekas - Minister of
Environment & Energy, gave interview to Wall Street Journal – WSJ.
AWARD CEREMONY – OFFICIAL DINNER
“2022 HELLENIC CAPITAL LINK LEADERSHIP AWARD”
The Forum concluded with an official
dinner with Opening – Welcome Remarks by Mr. Edward
Mermelstein - New York City’s Commissioner for International Affairs, on behalf
of Eric Adams, Mayor of New York City, who welcomed the dinner’s
attendees. Mr. John Kalafatis, CEO - NU Boyana Hellenic Film Studios delivered
Introductory Remarks.
H.E. Alexandra Papadopoulou, Ambassador of
Greece to the United States, and Mr. Yianos Kontopoulos, CEO – ATHEX Group delivered Keynote
Remarks. During the
dinner Mr. Panos Papazoglou, Managing Partner - EY Greece, was honored with the “2022 Capital Link Hellenic Leadership Award”, for his outstanding
contribution to Greece.