The President of the Republic, Nicos Anastasiades, attended tonight the 10th annual Invest Cyprus International Investment Awards ceremony held in Limassol.
In his address at the ceremony, the President of the Republic, among other things, referred to the crises of recent years that have impacted the economies of countries around the world such as the pandemic and the Russian invasion of Ukraine, as well as the sanctions imposed on Russia with negative consequences on various sectors of the economy.
"However, we remain optimistic due to rational economic management that these consequences will be addressed," he said.
He added that the resilience of the Cypriot economy has been proven during the crisis period both in 2013 and during the pandemic, expressing confidence that Cyprus' economy will emerge stronger from the current crisis.
He also referred extensively to the Government's measures to increase the competitiveness of the Cypriot economy, with the aim of attracting foreign investment and implementing a more business-friendly environment.
In this context, the President of the Republic highlighted the new package of tax incentives for foreign investors, expressing hope that it will be approved by the House of Representatives next week.
He also added that the Government attaches particular importance to sectors such as Technology, Shipping, Innovation, Research and Development.
With regard to the Recovery and Resilience Fund and the Plan "Cyprus - Tomorrow", the President of the Republic said that this will strengthen the resilience of the Cypriot economy and the country's prospects, referring in detail to the provisions of the Plan.
He said that the Government has proceeded and is proceeding with reforms that will address the challenges that Cyprus faces and will promote and support the competitiveness of the business environment.
Indicatively, he pointed out, among others, that through reforms, the efficiency of the Civil Service and Local Authorities will be increased, the quality and adequacy of the justice delivery system will be improved through expediting procedures, the opening of the electricity market and facilitating the licensing of renewable energy projects and the digitisation of all public services.
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