CYPRUS: Chamber hails ‘innovative’ decision on State Secretariat for Shipping

The Cyprus Chamber of Shipping, the umbrella organisation for the entire maritime sector of shipowners, managers and services, has hailed the unanimous decision by MPs to forward for a vote the legislation that will define three new branches of the executive – shipping, tourism and development.

 
The three State Secretariats will operate independently of the ten-member Cabinet and will report directly to the President.
The Chamber said the decision, following the approval by the House Finance Committee on Monday, established an “innovative institutional structure” and will substantially contribute to the further development of Cyprus shipping and the economy, in general.
“The quick approval of the legislation by the House of Representatives will convey a clear policy message to this highly productive sector of the economy. Such a universal state support will also operate as a convincing leverage to attract more quality shipowners and shipping companies to Cyprus, with positive chain reaction in further lowering the unemployment rate and enhancing other sectors of the economy that provide services to the maritime sector.”
“Hoping that the relevant legislations for the State Secretariats for Development and Competitiveness, and Tourism, that have been designed so as to function within an innovative flexibility in relations with the wider Civil Service, is also expected to allow these vital sectors, and in particular the shipping industry, that is active and competes on an international basis, to realise the development strategies and to respond to the constantly developing demands of the world economy and international competition.”