Cyprus President Demetris Christofias invited investors from USA to invest in Cyprus taking advantage of the benefits given by Cyprus government.
Speaking at a forum organized Thursday night by the Cyprus Embassy Trade center in cooperation with the Cyprus Chamber of Commerce and Industry, President Christofias stressed that Cyprus is “in comparison to other countries, a paradise for investments” because it has “a low tax rate, a stable economy, a macroeconomic stability and a left wing government”. This is a guarantee for stability, he added.
As President Christofias said, the government has a very close and excellent relation with the Chamber of Commerce and the Association of Employers in Cyprus and these two organizations “are supporting consciously the government and the President of the Republic and I want publicly to congratulate them and to express my gratitude for their support”.
He stressed also that this kind of meetings should be organized in Cyprus, because the participants “have to touch Cyprus’ beauty and the benefits of the development of enterprises in our country”.
At his speech Minister of Commerce, Industry and Tourism, Antonis Paschalides stressed that despite the prevailing adverse economic climate in 2008, “the Cypriot economy experienced a higher than the EU – average growth rate of 3,6%, a low unemployment rate of 3,7%, 4,4% inflation and an average per capita income, which in terms of purchasing power, corresponds to almost 95% of the EU average”.
Strategically situated at the crossroads of three continents and serving Europe’s South Eastern outpost, Cyprus has a favorable environment for all types of business, a modern and transparent legal framework, a liberal investment policy that allows up to 100% foreign participation in most sectors of the economy, freedom of movement of foreign currency and a low corporate tax of 10%, the lowest in the whole of the European Union, Paschalides said.
He mentioned the comprehensive range of services from accounting and banking to business consulting, legal services, IT, shipping and marketing adding that Cyprus ranks among the leading maritime nations and is one of the world’s largest shipping management centers and transit centers in the East Mediterranean.
Paschalides made a special reference to the signed agreements with two of the top American Universities, Harvard and Massachusetts IT and added that they are in process of negotiating with Microsoft Corporation for an extensive collaboration in various areas. “A number of joint ventures can be established between Cypriot and American companies, such as construction projects, an area where Cypriot companies excel are active worldwide”. He mentioned also the re-exporting products in the neighboring countries, a market of 500 million citizens.
Our policy is to create a stimulating environment and the necessary conditions for such cooperation to develop into successful business ventures, added Minister of Commerce, Industry and Tourism.
