16.05.2024
President of the Republic Nikos Christodoulides said on Wednesday that Cyprus will achieve its goal of strengthening entrepreneurship and creating a stable and attractive investment environment.
In his speech at the annual General Assembly of the Association of Major Investment Projects, held in Nicosia, the President announced two actions in this direction, the first of which is a comprehensive government campaign to improve the country’s image at the international level. The second action is to prepare a new revised plan to encourage legalization and licensing of illegal/new construction in approved developments.
The President of the Republic stated that the land development sector and related investments, as a key pillar of the Cypriot economy, “have shown a particularly dynamic course in recent years, despite the unstable external environment that prevails and certainly affects us.”
He noted that the government is aware of today’s challenges and has therefore resolutely embarked on formulating targeted policies and actions to maintain a stable environment for economic development and for the benefit of entrepreneurship and social cohesion.
“In this context, the government has set specific goals and taken initiatives to make structural changes, support investment, reduce bureaucracy and improve the daily lives of citizens. We work selflessly every day to realize these goals and initiatives, which are critical for Cyprus to have a more sustainable and competitive economy,” he said.
The President further stated that the government’s prudent fiscal policies and targeted interventions have delivered results , with the aim of maintaining a resilient economy and maintaining a sustainable growth path.
“The Government is working methodically and diligently to strengthen the image and credibility of Cyprus, and to create the appropriate conditions to promote sustainable development, modernize and reform the State and support social cohesion. But above all, the government works to ensure the well-being of citizens and improve their daily lives.”
