Trans­port min­is­ter in­vites for­eign in­vestors to join pub­lic projects

Financial Mirror (Cyprus) - - FRONT PAGE -

Trans­port Min­is­ter Mar­ios Deme­tri­ades in­vited guests at­tend­ing the 2nd In­ter­na­tional In­vestors Sum­mit to con­sider par­tic­i­pat­ing in projects and pub­lic works, some of which are in the pipe­line, in­clud­ing the com­mer­cial­i­sa­tion of Lar­naca port.

Speak­ing at the three-day event, hosted by the state-run Cyprus In­vest­ment Pro­mo­tion Agency (CIPA), Deme­tri­ades said on Mon­day that “through a se­ries of key re­forms, (Cyprus) is de­vel­op­ing into a world-class in­vest­ment des­ti­na­tion.”

“In the ar­eas of trans­port, com­mu­ni­ca­tion and works, a num­ber of ini­tia­tives have been in­tro­duced to en­cour­age in­vest­ment and en­hance the in­fra­struc­ture avail­able in Cyprus. The com­mer­cial­i­sa­tion of the Li­mas­sol port in 2016 is one such ex­am­ple, through which our big­gest deep-sea port is be­ing de­vel­oped into one of the most mod­ern and ef­fi­cient ports in the re­gion.

“De­vel­op­ments in the en­ergy sec­tor are ex­pected to add to this pos­i­tive mo­men­tum, while the Cyprus mar­itime clus­ter, one of the big­gest in the world, is also ex­pected to ben­e­fit from this de­vel­op­ment,” he added.

“Over the last few years we have seen an in­creas­ing num­ber of ship­ping com­pa­nies es­tab­lish­ing a base in the re­gion or ex­pand­ing their ex­ist­ing op­er­a­tions. It is for this rea­son that a ded­i­cated Deputy Min­istry of Ship­ping will be in­tro­duced as of March 2018.

“A ten­der process is in progress for our sec­ond largest port, lo­cated in Lar­naca, whose com­mer­cial­i­sa­tion is ex­pected to give a fur­ther boost to our tourism in­dus­try, an al­ready boom­ing sec­tor of the econ­omy.

“At the same time, a num­ber of pub­lic works are in the pipe­line which, in com­bi­na­tion with many pri­vate ini­tia­tives, will en­sure the con­tin­u­ous mod­erni­sa­tion of our in­fra­struc­ture, our econ­omy and, of course, our in­vest­ment of­fer­ing.”

On the sec­ond day of the con­fer­ence, key busi­ness ex­ec­u­tives took the podium to ad­vo­cate Cyprus as an ideal in­vest­ment and busi­ness cen­tre.

Cap­tain Eber­hard Koch, a for­mer cap­tain and now CEO and part­ner of Oster­re­ichis­cher Lloyd Ship­ping (OL), said that the govern­ment and the peo­ple of Cyprus suc­ceeded to re­cover from the deep fi­nan­cial cri­sis of 2013 “which means there is a dy­namic for a new era” marked by sus­tain­able growth.

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