Cyprus we will proceed with Qatar’s investment

Speaking after today’s Cabinet meeting, Stephanou said that the three-member committee overseeing the investment project has submitted a recommendation on the issue to the government.

Replying to a question, Stephanou said that “we will proceed with responsibility, as we have done so far, to serve the interests and the prospects of the economy as well as the interests of the Republic of Cyprus.”

Asked if there is a relation between today’s presentation of the proposal and the visit of Cyprus Foreign Minister Markos Kyprianou to Qatar, Stephanou noted that Kyprianou’s visit has to do with the government’s policy to enhance its relations with several foreign countries, including Qatar.

He pointed out that ties between Cyprus and Qatar have developed a lot lately, recalling the visit of the Emir and the Prime Minister of Qatar to Cyprus and the visit of President Christofias to Qatar.

This is proof that relations between the two countries are developing rapidly, he said, adding that in that framework Kyprianou visited Qatar.

Cyprus and Qatar signed in April 2010 two agreements and four memoranda of understanding, covering sectors such as air services and the creation of a joint venture for a project opposite Hilton Hotel in Nicosia, including a five-star hotel, a shopping mall, offices and apartments.