FM: Cyprus remains an attractive center for investment

The Minister, who held Thursday separate meetings at the Ministry of Foreign Affairs, with Ambassador of Russian Federation, Vyacheslav D. Shumskiy, and Ambassador of the People’s Republic of China, Mr Liu Xinsheng. Informed them about the result of the recent decision by the Eurogroup on Cyprus.

According to an official press release, main themes of the meetings were the developments related to the conclusion of the negotiations for the MoU with Eurogroup.

Minister Kasoulides had the opportunity to analyze and explain to the Ambassadors the provisions of the Memorandum, the reasons behind this decision, as well as the consequent structural changes that will occur in Cyprus’ banking system, as a result of the recapitalization of the two main banks.

He indicated to the Ambassadors that the Republic of Cyprus is ready and takes all the appropriate measures for the effective implementation of the provisions of the Memorandum, which aims to ensure the stability of Cyprus’ economy.

He stressed that a new era has launched for Cyprus, in the framework of which the Cypriot economy will return to solid and sound foundations.

In this regard, he informed of the Government’s intention to set up a special Task Force, which will coordinate and oversee the implementation of the Memorandum, so that any difficulties and problems will be addressed.

Furthermore, the Minister argued that Cyprus remains an attractive center for investment and development, while he highlighted the comparative advantages that Cyprus continues to maintain as both a business center and a tourist destination.