25/02/2022 08:50
The Cyprus government`s vision is to transform the country into a model, resilient and inclusive nation, through a holistic growth plan, Cyprus President, Nicos Anastasiades said on Thursday, addressing a Cyprus Business Forum entitled “Cyprus: A gateway to the EU” at the EXPO 2020, in Dubai.
In his address, that was read by Finance Minister, Constantinos Petrides, the President also noted that the United Arab Emirates (UAE) "is an important political and economic partner for Cyprus. As we have showcased in the last months with our participation in the esteemed Dubai Expo, Cyprus has to offer numerous profitable investment opportunities in a variety of sectors," he added.
Anastasiades said that as the world is more and more optimistic about exiting a prolonged period of uncertainty caused by the unprecedented COVID-19 pandemic, "the Cypriot economy, proving its resilience, is rapidly recovering and demonstrating positive prospects for the upcoming quarters."
"The latest forecast of the European Commission predicts a growth for the Cyprus economy of 4.1% of GDP in 2022, which reaffirms the Cypriot economy`s positive trajectory and prospects. The economic sentiment is regaining confidence, and the state`s ability to support macroeconomic stability is strengthened," Anastasiades noted.
He stressed that "we are committed towards prudent fiscal policy, ensuring financial stability, and establishing a competitive, business-friendly regulatory environment of high standards so as to attract value-added investments."
"The vision of our government is to transform Cyprus into a model, resilient and inclusive nation through a holistic growth plan. This vision is financed partly with an overall budget of €4.4 billion, comprising of European Funds, namely the Recovery and Resilience Fund and the Cohesion funds," he added, noting that "our efforts constitute a detailed roadmap with a long-term vision for 2035."
Anastasiades also noted that "in order to address the challenges that we are facing, numerous reforms are being promoted, amongst others, in the fields of public and local administration, health, labour, educational and justice system, as well as green and digital transformation, research, and innovation."
The President said that "over the years, Cyprus has evolved into a regional centre for international business and investments. The potential to enhance this position and become a world-class hub for doing business, today is greater than ever," he stressed.
He noted that "becoming the next European business and trade hub is at the core of our efforts. To achieve this, we have formulated and we are implementing a comprehensive investment facilitation strategy," he further noted.
During the Forum, Minister Petrides elaborated, during a speech he delivered, on the Cypriot economy outlook, noting its resilience. He said that there is a balanced growth model, based not just on tourism, but also on shipping, education, the health sector, research and innovation, the financial sector, services and the energy sector.
"Above all we have a vision included in our long-term strategy," he noted, highlighting also the benefits from the EU Recovery and Resilience Plan for Cyprus.
A panel discussion followed with the participation of the Minister of Finance, the Minister of Energy, Commerce and Industry, Natasa Pilides, the Cyprus Securities and Exchange Commission Chairman, George Theocharides, and the Invest Cyprus Chairperson, Yiannis Matsis.
The next panel discussion focused on digitalization and innovation. Deputy Minister of Research, Innovation and Digital Policy, Kyriacos Kokkinos, Chief Scientist, Nicolas Mastroyiannopoulos, and President of the National Council of Research and Innovation, Philippos Patsalis, participated in the discussion, that was followed by chats with investors.
The Forum concluded with the projection of a video for Cyprus at the Al Wasl Dome of Dubai EXPO 2020.