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Association of Major Developments: Pillar of the Cypriot economy

Association of Major Developments: Pillar of the Cypriot economy

23.06.2022

Over time, large investments in development have become a key pillar of the Cypriot economy, supporting the development and prosperity of our country. Tens of thousands of jobs, foreign and domestic investment, promotion and creation of new professional areas and improved services are just some of the benefits that Cyprus has seen directly or indirectly as a result of major development projects.

The establishment of the Major Developments Association in 2013 aimed to create an organized group that would enhance the existing dynamics of the construction sector in Cyprus by promoting issues related to the economic, business, social and environmental development of the country.

The versatile activities of the Association are aimed at developing the domestic economy by attracting significant and long-term investments to the island. At the moment, 15 members represented by the Association own some of the largest development projects in the country, the value of which exceeds 8 billion euros. High-end projects including but not limited to golf courses, marinas, medical and diagnostic centers, health and wellness centers, multi-theme parks, research and development centers, organized sports centers, schools and universities, commercial and residential complexes, and more.

Each member of the Association maintains constant contacts abroad, in order to attract foreign investment, with such countries as England, the USA, Lebanon, Egypt, Jordan, Israel, India and China. At the same time, the Association is in constant contact with relevant organizations abroad, promoting investment projects in its portfolio, as well as Cyprus as an investment destination.

At the local level, recognizing the difficulties and obstacles that make it difficult to attract foreign investment to Cyprus, the Association, through intensive efforts and channels of communication that it maintains with relevant government departments and agencies, contributes to creating a favorable business climate not only for international investors, but also for local residents. To achieve this goal, the Association has already submitted relevant proposals for the creation of a more flexible, efficient and productive civil service. Modernization of structures and practices, reduction of bureaucracy and transparency in the context of operation and evaluation.

Through its actions, the Association contributes constructively with its proposals and documented arguments to this joint effort to support the Cypriot economy, firmly believing that the implementation of major development projects will give a huge impetus to the development path of the country.

The Association of Major Developments is a member of the Cyprus Chamber of Commerce and Industry (CCC).

Source and photo: www. inbusinessnews.reporter.com.cy.com, Editor estateofcyprus.com
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