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Report on "Belt and Road Initiative" Investment Cooperation Based on a Case Study of the Piraeus Port Project in Greece

2018-08-22, from Development Research Center of the State Council, P.R. China

Author: Center for International Knowledge on Development (CIKD)

Contact: Mr. Taidong ZHOU, Email: zhoupetrel@hotmail.com

Abstract: The Piraeus Port Project is hailed as a model of China-Greece investment cooperation. COSCO took manifold measures to operate the Piraeus Port after the acquisition. With focus on the development aspirations of local industries and cities, localized management and environmental and social responsibilities, COSCO has made substantial contribution to Greek economic and social development.

Yet, the further development of Piraeus Port and China-Greece investment cooperation are still confronted with following challenges: frequent government reshuffling in Greece, deepening doubts from EU countries such as Germany and France, as well as lack of appropriate capability to manage public relations at COSCO and incompatibility between the corporate management system in China and abroad.

The Piraeus Port project indicates that: while pursuing "Belt and Road Initiative" investment cooperation, China should build “a community with shared future” with the host government, employees, local communities and other relevant parties, and earnestly practice the principles of "achieving shared benefits through consultation and collaboration". In addition, it is recommended that China should develop proper cross-border tripartite and multi-party cooperation to share benefits and risks. Sustainable investment and innovative approach for overseas governance should also be encouraged.

Keywords: Investment cooperation; “Belt and Road Initiative”; Greece

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