news | 13 October 2017 | ServPRO Accountants & Consultants

Anastasiades: Cyprus flag promotion is top priority

Addressing the opening of the Maritime Cyprus 2017 Conference in Limassol, President Nicos Anastasiades pointed out that further strengthening and improving the competitiveness of the Cyprus flag and maritime sector is one of government’s top priorities, with the ultimate goal being the flexibility and speed of decision-making, the improvement and upgrading of state services provided, the promotion of the Cyprus flag and the strengthening of the cooperation with the private stakeholders involved.

President Anastasiades said: “The Shipping Taxation System as well as the overall operational infrastructure is gaining strength and is very gratifying to see that more companies are attracted to Cyprus”. He further added that the country has significantly increased its presence in important shipping capitals, with a number of visits and road shows in Hong Kong, China, USA, UK, Germany and Greece.

The creation of a shipping under secretariat, which will operate as from March 1, 2018, is the proof of Cyprus’ commitment and support to the shipping industry, the President said, also adding that: “It is a message of the clear political trust and importance we attribute to the shipping industry of the island, while at the same time it will constitute a convincing leverage for attracting additional quality ship-owners and shipping companies to Cyprus.”

Emphasis was also given to the fact that the discovery of hydrocarbons in Cyprus’ Exclusive Economic Zone (EEZ) creates new prospects for the country and the economy, broadening the horizons of the shipping industry, via establishing new relevant synergies, particularly as Cyprus has the potential to develop into an important Energy Centre in the Mediterranean and beyond.

Mr. Anastasiades offered a warm welcome to the foreign delegates, saying that their presence was proof of the trust and respect toward the Cyprus’ shipping industry and assured them that the government’s efforts would continue to strengthen Cyprus’ competitiveness by promoting inter alia strategic reforms.

He pointed out that Cyprus has the eleventh largest fleet worldwide and the third largest in the European Union, and is currently one of the largest ship management centers, further noting that the shipping sector has proven its value to Cyprus by being one of the most important pylons of growth, with a 7% contribution to the country’s GDP.

The three-day Cyprus Maritime 2017 conference was attended by more than 800 delegates from around 35 countries, including European Commissioner for Transport Violeta Bulc, European officials, ship-owners, and CEOs of international shipping organizations and companies.

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