French business people are interested in investing in various fields in Cyprus, such as energy, tourism, shipping and technology. Today, the Cyprus Investment Promotion Agency (CIPA) organized a working breakfast with the participation of Minister of Energy, Commerce, Tourism and Industry Yiorgos Lakkotrypis, French Ambassador to Cyprus Jean Luc Florent, the Cyprus – French Business Association and French business people, during which investment opportunities and facilitation of investments were discussed.
In statements after the meeting, the Minister said that next Friday he will have a meeting in Paris with the President of the Middle East and North Africa of TOTAL with whom he will discuss the company`s plans in Cyprus` Exclusive Economic Zone.
In addition, in Paris, Cypriot and French business people will meet to discuss investments in in all fields, mainly in tourism energy and shipping.
Lakkotrypis said that the interest of the French investors could also be extended to the casino and the technological park.
The Minister welcomed the increase of French tourist to Cyprus, which by August reached 36%.
He said that this is a significant increase which in real numbers stands at 25.000 tourists.`Surely, the real number is small but it must be noted that there is huge potential” he said.
In his statements, the French Ambassador said that they exchanged many ideas on how to improve the relations in the business and investment sectors between Cyprus and France.
He also said that next week a meeting will take place in Paris between French and Cypriot companies in all fields, mainly in tourism energy, shipping, and expressed the view that there is room for improvement taking into account that the economical and financial situation in Cyprus is improving.
`In the coming months and year I suppose we will have more French companies investing in Cyprus ` the Ambassador noted.
Politically speaking, he said, the relationship between the two countries is exemplary.
President of CIPA Christodoulos Angastiniotis said that France is an important partner for Cyprus, both economically as well as politically and noted that there is French interest for more investments in various areas such as technology and possibly casinos.
Referring in investments in general, he said that in the past years there have been many investments in real estate, tourism, energy but noted that efforts will continue since there is room for more investments to come.
Energy
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Following the developments on Egypt`s giant natural gas “Zhor” field, the Minister said that in the last days the government held discussions with French TOTAL.
He added that next Friday he will have a meeting with the company`s Director for Middle East and North Africa with whom he will discuss TOTAL`s plans in the Cypriot Exclusive Economic Zone.
Asked whether the Zhor field extends to Cyprus` EEZ, he said that there are some indications that Zhor`s structure does indeed extend, but clarified that as regards the field more information is needed since there are no data from the drilling.
Meanwhile, the French Ambassador referring to TOTAL, said that the company is present in Cyprus and that there are discussions taking place between the Cypriot government and TOTAL. He said that the Cypriot Minister will have a meeting with TOTAL in Paris Friday next week “so I think here also there is possibility for not only continuation but maybe an improvement of the relationship between TOTAL and Cyprus”.
