Microsoft is planning to build 3 data centers in Athens and to train 100,000 people in digital technologies by 2025. The total investment is valued at $ 1 bln.
Athens, Greece: 5 October 2020
The news on the investment was announced by Microsoft after 9 months of negotiations with Greek Prime Minister Kyriakos Mitsotakis. Besides the agreement to build data centers in Greece, Microsoft expects to train around 100,000 people in digital technologies.
According to Microsoft President Brad Smith, this is the largest investment Microsoft has made in Greece in 28 years of operations there. Brad Smith shared his belief that the world leading data-center technology can help enable innovation and growth across Greece’s economy.
The Covid-19 pandemic has revealed country’s reliance on tourism. The Mitsotakis government expressed the expectation to shift the balance of the Greek economy during its recovery, developing the energy, technology and defense sectors.
According to Prime Minister Mitsotakis, Microsoft’s investment is a significant and innovative decision that would make Greece a global hub for cloud computing. It will also contribute to upskilling and empowering Greece’s workforce.
Microsoft’s new data centres in Greece will join the company’s 63-region global cloud infrastructure network. This network makes Microsoft Azure cloud services available in more than 140 countries.
Microsoft and the Greek government have worked this year on “Project Olympia”, a plan to develop augmented reality applications at the archeological site of Olympia. According to Kathimerini, the success of the Olympia project contributed to Microsoft’s decision to invest in Greece. The company also took note of the recent vote by Parliament on the changes in the Greece’s investment laws.
It is expected that the implementation of Microsoft’s investment project will help to attract more foreign direct investments in Greece.
Navigator Consulting provides Investment Advisory and Strategic Management services in Greece, Cyprus and internationally.
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Sources:
Greek Reporter. 4 October 2020
Kathimerini. 4 October 2020
Kathimerini. 4 October 2020
EURACTIV. 5 October 2020
Kathimerini. 5 October 2020
TheStreet. 5 October 2020
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