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Cyprus PIO: News Update in English, 99-03-04

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

Thursday, 4 March 1999


CONTENTS

  • [01] Government promotes Cyprus as an international business centre


[01] Government promotes Cyprus as an international business centre

The government, recognising the importance and potential of the international business sector, is very keen on promoting its expansion, Commerce, Industry and Tourism Minister Nicos Rolandis stated yesterday.

In his address at the Annual General Meeting of the Cyprus Offshore Enterprises Association, held in Limassol, Mr Rolandis stressed that the country's "strategic location coupled with the excellent political and economic relations with our neighbours,.. a wide range of high quality professional services and the favourable economic and business environment , make Cyprus and ideal hub for business activities".

Mr Rolandis also stressed that the services sector accounted for about 73 per cent of the Gross Domestic Product for 1997 and noted that the sector is increasingly becoming export oriented.

He also said that "more than 37.000 permits have been issued by the Central Bank for the registration of international business companies noting that currently 1050 operate with fully fledged and fully staffed offices and that in 1998, 4.846 new international companies were registered.

The Minister pointed out that the government is taking all necessary measures to enhance and further expand the offshore sector adding that "the existence of the strong and dynamic business sector is the prerequisite for the creation of a healthy and competitive economy fully integrated into the international environment".


From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/


Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article
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