Qatar close to major investment in Cyprus

Minister of Finance Charilaos Stavrakis has said that Cyprus is satisfied with the progress achieved so far regarding negotiations between Cyprus and Qatar for an investment in Nicosia on behalf of the Arab Gulf country.

Stavrakis, who is currently in Qatar accompanying Cypriot President Demetris Christofias during his official visit there, held a meeting Thursday with his Qatari counterpart, during which they discussed Qatar’s interest to invest in Nicosia for the construction of a hotel.

“We are very satisfied with the progress of the negotiations”, Stavrakis said after the meeting, noting that the investment would create thousands of jobs for Cypriots during and after the construction of the hotel.

He also described the investment as “possibly the greatest foreign investment in Cyprus ever”.

The Cypriot Minister said that if the investment does take place, it would be a great success for the economy in Cyprus.

Meanwhile, Minister of Commerce, Industry and Tourism Antonis Paschalides, who also accompanies President Christofias in Qatar, held a meeting Thursday with Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry.

In statements after the meeting, Paschalides said that they discussed energy issues and investment opportunities.

He said that Qatar is interested in investing in Cyprus in the field of energy, noting that Qatar is the country which produces 30% of natural gas worldwide.

Pashalides told reporters he extended an invitation to the Qatari official to visit Cyprus.