articles | 21 October 2015

Chinese businessmen interested in investing in Cyprus

Chinese businessmen who met with Cypriot officials and businessmen during President Nicos Anastasiades' visit to China have shown an interest in participating in the process of privatisation of state owned operations and in investing in tourism and estates, an official said recently.

Phidhias Pilides, the president of the Cyprus Chamber of Commerce and Industry, told the state radio that the appointment of a private provider to facilitate the issue of visas is an additional incentive which will promote Chinese investments.

Pilides headed a large delegation of Cypriot businessmen who accompanied President Anastasiades on his visit to China from October 15 to 18.

During his visit Anastasiades announced that a private provider has been selected through a public contest that will open about 15 visa offices in Chinese cities which will accept visa applications.

Pilides said that Chinese COSCO containers' company is already participating in an international contest to take over a part of commercial operations of Limassol port.

He said the company has a wide experience in this field as it is already administering part of operations of the Piraeus port in Greece.

Cyprus has initiated a process of privatizing state owned operations, such as port facilities, telecommunications and possibly electricity production as part of its economic adjustment program agreed with international lenders in March 2013.

The government spokesman has said that joint technocratic teams must work in earnest soon to materialize political agreements made during President Anastasiades' talks in China.

Source: Famagusta Gazette

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