The Cypriot Government is determined to build on and enhance the comparative advantages of Cyprus as an international business centre, President of the Republic Demetris Christofias said on Monday at the Cyprus Promotion Investment Agency (CIPA) International Investment Awards ceremony. The address was delivered by Minister of Commerce, Industry and Tourism Neoklis Sylikiotis.
The President said that despite the critical time for Cyprus and the European economy, Cyprus is determined to tackle effectively the current challenges and utilise the potential for growth that arises from Cyprus’ resources in natural gas. Within this framework, he added, the country counts on foreign direct investment, as a source for the creation of new jobs and the creation of added value and income.
“Our objective of strengthening the role of Cyprus as an attractive and reputable investment destination and a reliable international business centre remains unchanged. Actually, the opportunities offered have now significantly widened via the natural gas resources and the related investments required”, he said.
He added that the recent positive results of the discovery of natural gas in the Exclusive Economic Zone of Cyprus triggered serious investment interest from large international and European corporations.
“We are confident that these developments will create promising prospects for our country and its people”, he said.
He referred to the advantages of Cyprus, as an investment center, the strategic location, the sophisticated infrastructure, the highly educated workforce, the favourable tax system, and its modern financial sector of the island.
The President pointed out that the Government, with a view to further improve the competitiveness of the economy, has attached emphasis on a number of areas, which include, simplification of the regulatory framework and the reduction of the administrative burden for business, continuous upgrading of the infrastructure in transport, energy and communications, promotion of research and innovation and further development of human capital.
