A broad meeting under the President of the Republic, on attracting quality investments to Cyprus, was held at the Presidential Palace, while a discussion was also held on the topic of encouraging successful young overseas Cyprus to return to the island.
As stated by Government Spokesperson Konstantinos Letymbiotis, the meeting held on the topic of the possibility of attracting quality investments in Cyprus was attended by the Ministers of Foreign Affairs, Finance, Interior, Energy, Trade and Industry, the Deputy Minister to the President, the Deputy Minister of Research, Innovation and Digital Policy, Invest Cyprus, and government technocrats.
According to Letymbiotis, the steady upward trajectory of the Cypriot economy–reflected through the successive upgrades of the country’s credit rating by all international rating agencies, positive growth rates, the reduction in unemployment and public debt– is a guarantee for attracting quality and sustainable investments.
As he said, maintaining macroeconomic stability, combined with the participation of the Republic of Cyprus in the European Union and the Eurozone, acts as a catalyst for the creation of a safe and reliable investment environment.
According to Letymbiotis, efforts made by the Government, combined with the upgraded tourism product and the ever-developing services, such as financial services and innovative technology, provide a variety of fields for specialised, high-value-added investment initiatives.
At the same time, the Government Spokesperson pointed out, the efforts made by the Government for digital upgrading and new infrastructure, in conjunction with the continuous strengthening of the research and development sector, contribute to establishing Cyprus as a centre of innovation in the wider region.
In parallel, the implementation of the country’s energy planning, he added, can give further impetus to strategic partnerships, creating new opportunities for the diversification of the domestic economy.
According to Konstantinos Letymbiotis, Cyprus today has all the conditions in place for creating an even more attractive investment framework that will meet the needs of the modern global market, capitalising on the positive performance of the economy and transforming it into a sustainable and dynamic business model.
It is worth noting that the meeting was part of the preparation for a special visit by the President of the Republic himself, accompanied by competent Ministers, to the USA in the coming time period, with the exclusive aim of attracting quality investments to Cyprus.
It is noted that within the framework of the visit to the USA and following the meeting to attract investments, a meeting was also held under President Christodoulides with the participation of the Minister of Labour and Social Insurance, the Deputy Minister to the President, the President of the Cyprus Chamber of Commerce and Industry, Invest Cyprus and government technocrats, on the subject of encouraging the return to Cyprus of young compatriots who are working abroad and have been distinguished for their scientific and professional skills.
The Government, as Konstantinos Letymbiotis underlined, is focused on the creation of a favourable environment for the further development of the business sector, with an emphasis on technology, innovation and research.
During the meeting, President Christodoulides pointed out that he is working on a targeted plan, which will be implemented in collaboration with large businesses operating in Cyprus and seeking specialised scientific personnel.
“The goal is to strengthen our potential with qualified young men and women who will give additional impetus to the production process and will contribute decisively to the sustainable development of the country,” indicated the Government Spokesperson, adding that through initiatives that will facilitate access to new jobs and provide incentives for relocation to Cyprus, an attempt is being made to give a strong message of reviving the domestic labour market, always guided by the need to maintain high wages and create decent employment conditions.
At the same time, this move aims to address the brain drain and to upgrade the domestic business scene in sectors of strategic importance for the country.
As Letymbiotis further explained, this effort, which is being promoted at the government level, directly involves the social partners, given that collective will and the taking of initiatives are required so that the attraction of Cypriots abroad leads to tangible, positive results for our society.
In the same spirit, the exploitation of international collaborations, as well as the contacts of the Cypriot diaspora in the US and elsewhere, is expected to offer new openings that will further benefit Cyprus’ economy.
“This meeting conveys a strong message on the intentions of the state: We aim not only to support our people who wish to return, but also to create in our country the necessary conditions for the formation of a sustainable, competitive and innovative working environment, which will combine stable economic growth and quality employment for all our fellow citizens,” concluded Konstantinos Letymbiotis.
(Source: InBusinessNews)
