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Financial Mirror (Cyprus) - - FRONT PAGE -

Im­ple­men­ta­tion of large in­vest­ment projects will serve as a cat­a­lyst to restart eco­nomic ac­tiv­ity in Cyprus, the lead­er­ship of the As­so­ci­a­tion of Large In­vest­ment Projects said dur­ing a meet­ing with Arch­bishop Chrysos­to­mos ll.

Dur­ing the meet­ing, it was stressed that im­ple­men­ta­tion of large devel­op­ment projects will bring mul­ti­ple benefits to Cyprus, such as new jobs, an inflow of tax rev­enue to state cof­fers, in­vest­ment op­por­tu­ni­ties and growth for the econ­omy. The two sides also ex­changed views on sim­pli­fy­ing and speed­ing up the re­quired pro­ce­dures as well as the in­vest­ment op­por­tu­ni­ties of­fered by the pri­vate sec­tor in Cyprus. Em­pha­sis was given to the am­bi­tious re­sort in­vest­ment in Yeroskipou, in which the Church of Cyprus is in­volved as a landowner, and specif­i­cally the li­cens­ing model be­ing adopted there which is ex­pected to set a pos­i­tive prece­dent and serve as a model for speed­ing up pro­ce­dures re­lat­ing to large de­vel­op­ments and fa­cil­i­tat­ing in­vest­ments.

Speak­ing af­ter the meet­ing, the pres­i­dent of the As­so­ci­a­tion, An­dreas Deme­tri­ades, said: “It was a very use­ful and con­struc­tive meet­ing. It is our shared view that im­ple­men­ta­tion of large in­vest­ment projects will boost devel­op­ment”.

He added that “it is es­sen­tial that bu­reau­cratic pro­ce­dures which have long served as an ob­sta­cle to growth are over­come. The pro­ce­dures re­lat­ing to the in­vest­ment in Yeroskipou can serve as a pos­i­tive prece­dent.“

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