Qatar Says Goodbye to Greece: ‘We Cannot Invest by Force’

Friday, September 22nd, 2017
Last Update: 22:17

In contradiction to the optimism of the Greek government on its capacity and willingness to attract foreign investments, the Qatari state company Al Rayyan announced that it is cancelling proposed investments in Greece.

In a press statement on Thursday, Al Rayyan said that some people in Greece simply “do not want foreign investment”.

“We cannot invest by force”, the company says.

Al Rayyan has been planning a series of investments in the tourist sector, and in particular in the island of Zakynthos in the Ionian Sea.

After many years of talks with government and local authority officials, the Qatari company says that they reached a deadlock, and in some cases have even faced open hostility by local officials.

“Throughout this period of adversity and difficulty, despite promises that the investment landscape would improve, there has been no improvement, nor is there any hope that something will change”, the strongly worded statement notes.

It adds that the company will continue to pay its taxes, and meet other obligations to the Greek State, but without pursuing its plans for investment.

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