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Excerpt of an interview of Cyprus Investment Promotion agency Mr Christodoulos Agastiniotis

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04-09-2013

Excerpt of an interview of Cyprus Investment Promotion agency Mr Christodoulos Agastiniotis

HOW DO YOU SEE CYPRUS DEVELOPING OVER THE NEXT FIVE YEARS?
The local economy is expected to have a challenging transition period but I am optimistic. The international organisations with offices and headquarters in Cyprus will find it significantly less challenging as their market is not limited to the economy of the island. The government is approving measures aimed at boosting our economy, which will include fast-tracking permits for large projects, tax breaks, and relaxation of measures to encourage foreign investment. President Anastasiades has also announced that the Cyprus company registrar will be fully automated in the next six months to speed up and simplify procedures. Bureaucracy was an obstacle holding up projects in the past and we are committed to creating a more efficient system that will support the business environment. We are finally restructuring and implementing reforms that are long overdue and with hard work we will get back on our feet and become even stronger. And once we start to profit from our hydrocarbons discovery, Cyprus could be one of the richest per capita countries in Europe.
 

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