Less red tape will add to positive momentum in logistics
Greece's transport and logistics sectors have grown into one of the country's most important industries but the government must simplify laws and cut red tape to build on this momentum, according to a study released Monday.
Put together by Ernst and Young and o.mind creatives, the report said the logistics business is growing globally and taking a pivotal role in the local economy, contributing 20 billion euros every year, or 11% Greece's of annual economic output.
The country's central geographic role in the eastern Mediterranean provides Greece with a competitive edge in sea transport coming into Europe from Asia, the report pointed out, adding that a ship transporting cargo from China arrives at the port of Piraeus 9 days before it reaches any other port in northern Europe.
Piraeus is benefiting the most from these expansion rates but smaller support ports are also showing robust growth, it added.
Progress on Greece's state assets sales, such as the privatisations of the Piraeus and Thessaloniki ports, have helped boost interest in the country's logistics market. Brokers report that occupancy rates for Grade A logistics properties is as high as some 95%.