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posted 8 years ago
The motto ‘Cyprus, a destination to live in and invest’ is broadly and successfully used in the present, competitive environment. But is this just a motto or does it reflect the reality? A brief analysis of the recent developments and the ongoing initiatives can convince any investor that Cyprus is committed, in continuous efforts, to further enhance the pre-existing foundations for promising investment opportunities.
Cyprus has not only managed to successfully exit the Economic Adjustment Programme and the financial recession of
Deputy Ministry for Maritime Affairs:
The establishment of a Deputy Ministry for Maritime Affairs can be considered as a necessity based on Cyprus’ position in the Shipping Global Map as one of the leading countries in Europe and Internationally in the Ship Register. In fact, in 2016, the Cyprus Registry was the 11th largest merchant fleet in the world and the third largest fleet in the European Union.
The establishment of the Deputy Ministry for Maritime Affairs will contribute to the creation of an easily identifiable structure, which will respond promptly to the international challenges and will further upgrade Cyprus as a Maritime Centre.
Hence this effort is anticipated to:
Deputy Ministry for Growth and Competitiveness
The establishment of a Deputy Ministry for Growth and Competitiveness is an evident example of the Country’s commitment to upgrading the present conditions and investing in a new growth model. This will combat the fragmentation of responsibilities, lead to the simplification of procedures and boost the entrepreneurial culture of the Country.
The new structure is anticipated to:
Deputy Ministry
The new structure, under consideration at present, is anticipated to render the Sector even more attractive and to contribute to the positive image of Cyprus abroad. A more integrated and targeted promotion of Cyprus can lead to multiple benefits for anyone involved in the Industry and can boost investment profitability. In addition, through the simplification of the existing procedures, the Tourism Industry will become even more attractive and
The aforementioned initiatives show that Cyprus is a country with a vision, ready to respond to the contemporary challenges. The positive results are evident in the significant interest showed by investors in several traditional and emerging Sectors, for example, the investment in
Undoubtedly, there is great potential and fertile ground for the Country to reach the highest business level. The aforementioned initiatives demonstrate that Cyprus is ready to exploit the tremendous prospects for further growth and development and to undertake all the measures needed in order to constantly enhance its profile as “a destination to live in and invest”.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought on your specific circumstances.
For further information, please contact Kyriakos Constantinou at Kyriakos@kyprianou.com.cy
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