22nd ANNUAL CAPITAL LINK INVEST IN GREECE FORUM
“GREECE – Looking Ahead with Confidence”
An International Summit about the Greek Economy & Investment Opportunities Featuring top US and International Investors, Government & Business Leaders, Global Investment Banks & Institutions & the Greek Government
The “22nd Capital Link Invest in Greece” Forum: “Greece – Looking Ahead With Confidence” took place, in digital form, on Tuesday & Wednesday, December 15 & 16, 2020 in co-operation with the New York Stock Exchange and major Global Investment Banks and Organizations. Also with the overwhelming support of the Greek business & financial community. Over the years, Capital Link Invest in Greece Forum has developed to become an International Summit about Greece, recognized as the main platform for updating US investors on developments in Greece, business and investment opportunities and the attractiveness of Greece as an investment destination. It gathers the elite of the financial and investment communities, as well business and government leaders from the United States and Greece. This year, as a Virtual Forum, the event was available to a global audience.
Foreign investments are of critical significance for the re-launching of the economy. The Capital Link Invest in Greece Forum provided an effective platform and the perfect timing for communicating the Prime Minister’s relayed message at the HELEXPO on the Government’s 12 initiatives to support the economy, which he described as “12 steps of confidence”, and “bridges that will transfer Greece and the Greeks from the health and economic turmoil to the calm waters of progress and hope”. This concrete plan enhances investor interest and confidence and, thus, helping to attract foreign investments.
With a 22-year track record of success, Capital Link Invest in Greece Forum has been engaged in a systematic effort to highlight Greece’s profile, to a global business and investment audience.
This year in particular, in a two-day period, 33 sessions, and 112 Top Level Speakers, from the Greek and international government, business and financial communities this event offered to a global audience a comprehensive, authoritative & insightful blueprint on the latest development and outlook of the Greek Economy. A special emphasis was given to the Business & Investment Opportunities in Greece and the wider region. Led by the Prime Minister, several key Greek Government Ministers outlined their specific programs and policies in the sectors of their portfolios in order to achieve the shift of the economy to a new, sustainable development model for Greece of tomorrow. A confident economy: productive, technologically advanced, innovative, extroverted, intelligent, and competitive, which has disproved the pessimists and attracted the recognition and praise of European partners. A top-level group of CEOs and other executives discussed trends, developments and opportunities for each of the main areas of the economy. Finally, a group of international investors shared their insight and shed light to the reasons that lead them to choose Greece as a Business and Investment Destination and what lies ahead.
The agenda, topics and structure of this forum 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.
“GREEK SHIPPING AT THE FOREFRONT OF GLOBAL TRADE – INDUSTRY & THOUGHT LEADERSHIP”
Dr. Nikolas P. Tsakos President & CEO – Tsakos Energy Navigation (NYSE: TNP); Chairman – Intertanko 2014-2018
In discussion with: Mr. Costas Paris, Senior Reporter – The Wall Street Journal
Dr. Nikolas P. Tsakos President & CEO – Tsakos Energy Navigation (NYSE: TNP); Chairman – Intertanko 2014-2018 stated:
“Greece has been at the forefront of shipping for generations from the ancient years. It’s a country that is surrounded by sea and it controls 55% of the European Union merchant marine fleet and more than 20% of the world fleet. So this is an amazing achievement for a country of around 10 million people. Greece is as big as a small village in China but it still controls the majority of the world trade. It is a matter of tradition, that goes back in the ancient years and the mythology, and it is obvious how important sea has been for Greece, through all these years, until today.”
“The biggest risk that we are facing is the cut off of the chain of young people going to sea. This is what has kept generation after generation for thousands of years reinventing themselves,” Mr. Nikolas Tsakos maintained. It is important to provide the right incentives and training to the younger generation for a seafaring career. He mentioned the initiatives of the Maria Tsakos Foundation in the area of Maritime Training and Education.
In regards to Green Shipping Mr. Tsakos said that shipping is the most efficient economical and environmentally friendly method in transporting vast quantities of goods with a very small environmental footprint which shipping is always trying to reduce. It’s worth noting that 90% of world trade has been achieved with 2.8% negative contribution to the environment which is way too much. This is a much smaller percentage than the aviation environmental footprint percentage of 10% or the 20% of the road & tracks transportation of goods. Mr. Tsakos felt he should clarify that although shipping is not the main polluter, the industry will make every possible effort to achieve its targets for 2030 and 2050. Shipping is so dependent on the environment that no shortcuts are going to be accepted in order to achieve this.
About the ship of the future Mr. Tsakos said that for now we will operate in accordance with the solution provided by the IMO with effect from January 2023 which is the reduction of speed on existing vessels. Speed limit will significantly reduce emissions and give time to the scientists to the engineers and the shipyards to work on the solutions, be it hydrogen, be it ammonia, be it natural gas, which is another good option, to build the “right” ship. So, slow steaming is the midterm solution.
The president and CEO of Tsakos Energy Navigation said that covid-19 has created a very uneven plain field. “We are experiencing operational and commercial circumstances that we have never seen before. However, the human factor, since our industry is very human intensive, is the most important one. We have cases on a daily basis, where actions are taken in order to safeguard the mental and physical health of our crew. A lot of countries have taken unilateral actions not to allow sea farers to leave or board on ships. We have people who have not seen physically their families for more than a year. This is not the right way to go and through the International Maritime Organization (IMO) we are trying to coordinate and make this process run smoothly. But it is very challenging.”
Mr. Costas Paris, Senior Reporter – The Wall Street Journal, stated:
“Let me just start with something that sometimes is difficult to understand by many in the greater transport community. Greece is a small nation. But it is at the forefront of shipping for decades. It is the dominant nation. How will a small country like Greece continue to maintain its dominant position given that other nations, especially from Asia like China, have state funding to fund their fleets and they have all the financing that they need with easy terms,” Mr. Costas Paris noted in his introductory remarks.
One-on-One Meetings in Digital Form
As in previous years, the Forum provided foreign investors with unique networking opportunities through more than 100 one-on-one meetings with listed and not listed companies, as well as, with members of the Greek Government Delegation, which under the current circumstances were held in digital form on a special digital platform http://forums.capitallink.com/greece/2020/meetings.html
In cooperation with the investment banks supporting the Forum, there were organized two group sessions with institutional investors for all Ministers. Ministers Staikouras, Georgiadis, Hatzidakis: Each one addressed topics of his portfolio and of interest to the specific group of investors. Furthermore, Minister Karamanlis also held a series of one on one meetings with investors and other market participants.
Indicatively: Allianz Asset Mgmt • Amiral Gestion • Artisan Partners, LP • Atlas Ridge Capital • Blackrock • Callawaycap • Cheever Partners, LLC • Colt Capital • Dromeus Capital • Eaton Vance • European Reliance • Fiera Capital • Franklin Templeton • Gagnon Securities • Glacier Pass Partners • Global Value Investment Corp • Golden Tree Asset Management • KKR • Koa Capital Partners, LLC • Melqart Asset Management • Metlife • Metzler Asset Management • Neon Capital • Orasis Capital • Prince Street Capital • ProValue AG • Schafer Cullen Capital Management, Inc. • Sephira Emerging Markets • SpringOwl • Vanshap Capital • Waterwheel
«GREEK AMERICAN ISSUER DAY» at the New York Stock Exchange
Within the context of the 22nd Annual Capital Link Invest in Greece Forum the New York Stock Exchange in cooperation with Capital Link organized a special ceremony in honor of Greece titled “Greek American Issuer Day at NYSE”. On Tuesday, December 15th, 2020, the New York Stock Exchange (NYSE) held an official reception, in digital form, in honor of the Greek Delegation, Greek & Greek- American companies listed on the New York Stock Exchange.
H.E. Adonis Georgiadis, Minister of Development & Investments of the Hellenic Republic, & Dr. Nikolas P. Tsakos, President and CEO, Tsakos Energy Navigation (NYSE: TNP); Chairman, INTERTANKO 2014-2018, rang The Closing Bell accompanied by Captain Panagiotis N. Tsakos and the following representatives of NYSE listed companies: Danaos Corporation (DAC) – Iraklis Prokopakis – Senior VP/Chief Operating Officer/Treasurer – Diana Shipping Inc (DSX) – Semiramis Paliou – Acting CEO/COO – Dorian LPG (LPG) – John Lycouris – Director & CEO of Dorian LPG USA LLC and Theodore Young, CFO, Dorian LPG – Dynagas LNG Partners LP (DLNG) – Michael Gregos – CFO – Navios Group of Companies (NM, NMM, NNA) – Ted C Petrone – Vice Chairman – Safe Bulkers Inc. (SB) – Dr. Loukas Barmparis President/Secretary – Mistras Group Inc. (MG) – Dennis M Bertolotti – President/CEO – and Mr. Nicolas Bornozis, President of Capital Link.
The event was broadcasted live on major news stations in the United States and abroad to an estimated audience of 150 million viewers worldwide.
Through the exceptional digital platform that was used, the Forum offered a unique combination of information, marketing and networking opportunities. The participants this year had the opportunity to be informed about Greece from:
o 112 top level speakers who addressed
o more than 1,000+ delegates who attended the forum
o More than 100 one-to-one meetings with listed and non- listed companies
o Separate meetings for the Ministers of Finance, Development & Investments and Energy, with a group of Institutional investors (funds) who are interested in investing in Greece
o Aiming to provide investors with an authoritative insight about Greece, a “digital library” was created which has been designed to be easily accessible for a long period after the forum.
This year’s Forum was honored by the participation of:
• Mr. Nicolas Bornozis, President of Capital Link
• Mr. Ajay Kanani, Director, International Capital Markets – New York Stock Exchange who expressed the active support and participation of NYSE, the world’s largest stock exchange, enhances the prestige and the visibility of the Forum and of Greece to a wider.
➢ H.E. Alexandra Papadopoulou, Ambassador of Greece to the United States and H.E. Geoffrey R. Pyatt – U.S. Ambassador to the Hellenic Republic, delivered the Opening Remarks to the Forum.
➢ H.E. Kyriakos Mitsotakis, Prime Minister, Hellenic Republic, delivered the Government’s message to the international investor Community
➢ The Forum concluded with Closing Remarks by:
• Mr. John Paulson, President & Portfolio Manager – Paulson & Co.
• US Government Official Mr. Matthew Palmer, Deputy Assistant Secretary, European and Eurasian Affairs, U.S. Department of State
➢ Greek Government Officials • H.E. Christos Staikouras, Minister of Finance • H.E. Adonis Georgiadis, Minister of Development & Investments • H.E. Kostis Hatzidakis, Minister of Environment & Energy • H.E. Kyriakos Pierrakakis, Minister of Digital Governance • H.E. Kostas Karamanlis, Minister of Infrastructure & Transport • H.E. Harry Theoharis, Minister of Tourism • H.E. Theodoros Skylakakis, Alternate Minister of Finance for Fiscal Policy • H.E. Nikos C. Papathanasis, Alternate Minister of Development & Investments – Private Investments & PPPs • H.E. Yannis Tsakiris, Deputy Minister of Development & Investments • Dr. Evangelos Kyriazopoulos, Secretary General of Ports, Ports Policy & Maritime Investments – Hellenic Republic • Mr. Alex Patelis, Chief Economic Adviser to the Prime Minister of Greece • Mr. Michael Arghyrou, Chairman of Council of Economic Advisors • Mr. Ioannis Smyrlis, Secretary General for International Economic Relations – Hellenic Ministry of Foreign Affairs / Chairman of the Board of Directors – Enterprise Greece Invest & Trade
➢ Bank of Greece • Mr. Yannis Stournaras, Governor • Mr. Spiros Pantelias, Director, Financial Stability Department
➢ Five Global Investment Banks • Citi • Goldman Sachs • HSBC • Nomura International • AXIA Ventures Group
➢ Four Greek Banks: • Alpha Bank: Mr. Vassilios E. Psaltis, Chief Executive Officer • Mr. Theodoros Athanassopoulos, Executive General Manager Non Performing Loans Wholesale Banking, CEO Cepal Hellas Financial Services S.A. • Eurobank: Mr. Fokion Karavias, Chief Executive Officer • Mr. Konstantinos Vassiliou, Deputy CEO, Head of Group Corporate & Investment Banking Executive Member of the BoD • National Bank of Greece: Mr. Pavlos Mylonas, Chief Executive Officer • Mr. Vassilis Kotsiras, Head of Capital Markets and Structured Finance • Piraeus Bank: Mr. Christos Megalou, Chief Executive Officer • Mr. Athanassios Vlachopoulos, General Manager Corporate & Investment Banking • Mrs. Eleni Vrettou, Executive General Manager, Chief of Corporate & Investment Banking • Mr. George Kormas, Head of Group Real Estate of Piraeus Bank Group and CEO
➢ Senior Representatives of Greek and International Organizations and Institutions: • Mr. Martin Bijsterbosch, Adviser – Country coordinator for Greece – Directorate General Economics – European Central Bank • Mr. Rolf Strauch, Chief Economist and Management Board Member – European Stability Mechanism (ESM) • Mrs. Andreea Moraru, Director, Greece & Cyprus – European Bank for Reconstruction & Development (EBRD) • Mr. John Jovanovic, Vice-President and Managing Director for the Aegean and Western Balkans – US International Development Finance Corporation • Mr. Riccardo Lambiris, CEO – Hellenic Republic Asset Development Fund • Mr. George Pitsilis, Governor – Independent Authority for Public Revenue, President of the Intra-European Organization of Tax Administrations (IOTA) • Mr. Dimitrios Tsakonas, Director General – Public Debt Management Agency • Mrs. Rania Ekaterinari, CEO – Hellenic Corporation of Assets and Participation (HCAP)
➢ Top International Investors: AlleyCorp • Apollo Advisors • BC Partners • BlackSummit Financial Group, Inc. • BrookStreet Equity Partners • CVC Capital Partners • Fortress • U.S. International Development Finance Corporation • HIP Investment (Blackstone Group) • Insight Partners • Oak Hill Advisors • Paulson & Co.
➢ International Companies: AECOM Infrastructure and Environment UK Ltd. • Atlantic Bank / New York Community Bank • AVIS Greece • Brown Hotels • CISCO, Greece, Cyprus, Malta, Portugal • Eldorado Gold Corporation • EY • Flott & Co. PC • Google • Hines Greece • Jacobs • Libra Group • LightsourceBP • Microsoft Greece, Cyprus & Malta • Mistras Group Inc (MG) • Mohegan Gaming & Entertainment • NN Hellas • Pfizer Hellas • Quantum Partners/547 Energy LLC • SP Global
➢ Athens Exchange Listed Companies: Athens Water Supply & Sewage Company S.A. (EYDAP) • Alpha Bank • ADMIE Holdings (Independent Power Transmission Operator S.A.) • Cenergy Holdings • ElvalHalcor • Fourlis Holdings • Eurobank S.A. • GEK TERNA Group of Companies • Hellenic Gas Transmission System Operator (DESFA) • Hellenic Petroleum S.A. (ELPE) • Lamda Development S.A. • Motor Oil (Hellas) • Mytilineos S.A. • National Bank of Greece • Opap • Orilina Properties REIC / Zeus Group • OTE Group of Companies • Piraeus Bank • Piraeus Real Estate • Prodea Investments • Public Power Corporation of Greece (PPC) • Sarantis • Terna Energy • Titan Cement Group • Trastor REIC (Värde Global Real Estate) • Viohalco S.A
➢ US Listed Global Shipping Companies Capital Product Partners (CPLP) • Danaos Corporation (DAC) • Diana Shipping Inc (DSX) • Dorian LPG (LPG) • Dynagas LNG Partners (DLNG) • Eurodry (EDRY) • EuroSeas (ESEA) • Pyxis Tankers (PXS) • Safe Bulkers (SB) • Seanergy Maritime Holdings (SHIP) • Star Bulk Carriers (SBLK) • Tsakos Energy Navigation (TEN)
➢ OTHER GREEK COMPANIES & ORGANISATIONS: Blueground • Cepal Hellas Financial Services S.A. • Elikonos Capital Partners • Enterprise Greece • Envolve Entrepreuneurship • EOS Capital Partners • Epignosis eLearning Solutions • Greek National Tourism Organization (GNTO) • Grivalia Management Company • Hellenic Corporation of Assets and Participation (HCAP) • Hellenic Republic Asset Development Fund • Independent Authority for Public Revenue • Intrum Hellas • Public Debt Management Agency • Regency Entertainment S.A. – Lampsa Hellenic Hotels S.A. • SMERemediumCap • Venture Friends
➢ LAW FIRMS: Allen & Overy LLP • Karatzas & Partners Law Firm • Lambadarios Law firm • Machas & Partners Law Firm • Milbank LLP • PotamitisVekris Law Partnership • Reed Smith LLP • Saplegal – A.S. Papadimitriou & Partners Law Firm