articles | 20 October 2015

Attracting foreign investments a top priority

Attracting investments is the Cyprus government’s top priority, President Nicos Anastasiades said from China, pointing out that foreign investments constitute the catalyst for economic growth, job creation and prosperity.

Addressing a forum organized by the Cyprus Land and Building Developers Association, in Shanghai, Anastasiades recalled the excellent long-standing relations between China and Cyprus.

He assured that “broadening and deepening Cyprus’ trade and economic relationship with the global power that is China, is a top priority for my government,” adding “indeed, we are confident that the strengthening of our relations, at all levels and in all sectors, will benefit both our peoples and we aim at ensuring that this shared vision is effectively realized.”

The President said that Cyprus is emerging stronger than ever from an unprecedented crisis and referred to the country’s comparative advantages.

“My government is currently implementing a series of measures which include the simplification of procedures for the faster issuing of permits and licensing of investment projects and operation of businesses, as well as the speedier granting of residence permits to foreign investors,” said the President, noting that “we are taking measures to simplify procedures of visa application so as to make it easier for Chinese tourists to visit our beautiful island.”

To this end, he went on to say, we have chosen a private provider through a tender competition, in order to establish a number of authorized visa application centres in Chinese cities, 5 at first stage and 15 in total, where there is no Cypriot diplomatic or consular representation.

He added that opportunities for growth exist in the majority of economic sectors of Cyprus and noted that “especially today, the discovery of natural gas reserves within Cyprus’ Exclusive Economic Zone creates excellent investment prospects in the energy sector and ancillary services.”

Concluding he invited Chinese companies to further explore investment programs and prospects in Cyprus and to cooperate with Cypriot businesses, taking full advantage of the many opportunities offered in the real estate sector.

Source: Famagusta Gazette

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