Microsoft Invests $1 Billion to Accelerate Greece's Digital Transformation
/In October 2020, Microsoft President Brad Smith announced that the company was ready to invest US$1 billion. This money will be used to create digital data centers in the region. This will help develop the digital economy of Greece, as well as increase investment potential.
Microsoft's offer was good news for a country that, like many other countries, has been hit by the pandemic. Greece has seen all the benefits of transferring economic activity to an online environment. In addition to this, the stated goal of the Mitsotakis government is to reduce dependence on tourism.
100,000 private and public sector workers will be able to receive training, as will teachers and students. Such a step will help to return to Greece thousands of professionals who once left the country. This is possible if development is stimulated in the technology, energy, and defense sectors.
“A Microsoft datacenter region provides a competitive advantage to our digital economy. At the same time, it is a long-term investment and a vote of confidence in our country’s potential. The cloud is transforming every industry and sector. The investment in skilling 100,000 citizens will empower today and tomorrow’s Greek workforce,” said Mr. Mitsotakis in announcing the deal with Microsoft.
He said the deal: “… position the country among the digital leaders of Europe. A Microsoft datacenter region provides a competitive advantage to our digital economy.”
“It does not only mean foreign capital, more income in public funds, new highly specialized jobs. It also implies a quality added value. Analysts will talk about a total economic benefit, in the long run, which may exceed 1 billion based on the experience of other countries,” said Mr. Mitsotakis.
Microsoft itself says the deal will open up an opportunity for local companies and startups to “to fully utilize the potential of cloud computing, while maintaining the highest cybersecurity, data residency and compliance standards.”
Source: neoskosmos
