The major lifting of restrictions in capital
movement has taken place, the President of the Republic Mr Nicos Anastasiades
said tonight, adding that the Government has launched a campaign to attract
foreign investments in Cyprus.
Speaking at the General Assembly of the Cyprus
Chamber of Commerce and Industry, the President expressed “satisfaction for the
recent announcement by the President of the European Investment Bank with
regard to the two funding programs for Cyprus. The first concerns the grant of
150 million euro to Cyprus from the EIB for boosting the external trade of Cyprus.
The second concerns the approval of a loan of
100 million euro to the Republic of Cyprus for the setting up of a Business
Fund, which will be financing small and medium sized businesses. The signing of
these agreements will take place mid-December and the Fund will start operating
by the end of March.
I recall the recent proposal by the European
Commission to grant 200 million euro as special
financial assistance as a result of the linkage of the economy of
our country through the Memorandum of Understanding to Cyprus in the context of
the program 2014-2020.”
He added that “during the last European Council
we managed as a Government to increase the co-funding of projects from 60% to
95%.
The scope of the economic recession will be less
than was expected, at least for 2013.”
He stressed that “only through the strict
implementation of the Memorandum will we be able to regain the trust of foreign
investors and also of the Cypriots themselves, for the Cypriot economy,” and
added that “the full recapitalization of the Hellenic Bank with the
contribution of foreign investors and the start of the restructuring of
Cooperative Banks, as well as the restructuring plan of the Bank of Cyprus with
a permanent Board and a new CEO have already been achieved.”
President Anastasiades said that “we do
everything necessary in order to restart the economy, to reform and modernize
the state, and to bring Cyprus back on the course of growth.
In order to achieve the restart of the economy
we have promoted a series of measures, including the more expeditious issuing
of Building Permits, the
granting of permits for the operation of a casino, the construction of golf
courses, the granting of permits for mixed tourist development projects, and
the encouragement of investments by long-term residents coming from third
countries, as well as the agreement with Russia for open skies, which will
increase the number of tourists from Russia during the winter months by 300
thousand people.
I also note our agreement with Kuwait for the
lifting of current restrictions on the visits by Kuwaiti citizens to Cyprus and
the establishment of direct flights between the two countries.”
The President said that “attracting foreign
investments is a high priority of the Cypriot Government. Cyprus is and can
remain an excellent investment destination due to its favorable taxation
system, the high quality of services and its excellent work force.” He also
underlined the geostrategic importance of Cyprus as a factor for stability and
security in the Eastern Mediterranean region, something that is acknowledged by
the major world powers.
He added that the Government and he personally
have launched a campaign to attract foreign investments that would contribute
greatly to the liquidity of the Cypriot market.
Pointing out that “another factor that can
contribute in a revolutionary, drastic and immediate way to the lifting of the
economy is if our Turkish Cypriot compatriots and Turkey decide that the time
has come to find a solution, through a sincere, substantive and mutually
respectful dialogue, which will lead to the withdrawal of the occupation troops
and the burdens caused by the 1974 catastrophe, which will reunite the country
and will safeguard human rights and the values and principles that Europe
represents, that would allow for the free movement of people and capital, in
order to create prospects for stability and cooperation.”
The President pointed out that “what is required
is boldness and courage. We should leave blame games aside. It is not in any
way my intention to start blaming who is more responsible, whether it’s the
Turkish Cypriots or Ankara. What is required is for all of us to look forward.
If we manage that, then there are prospects and hope for our homeland.”
President Anastasiades underlined that “I am
determined to work in a consistent manner for a solution that will safeguard a
common homeland for everybody, with one and single international personality,
one and single sovereignty and one and single citizenship. If all these are
understood, if Mr. Eroglu and all those who influence him realize that at last
they must contribute, in their own way, to all these that are principles based
on the UN resolutions, then I am confident that we can cover a lot of ground
toward the solution that is being sought.”
Concluding, the President of the Republic said
that the natural gas reserves found in the Exclusive Economic Zone of the
Republic of Cyprus “can be the incentive for everyone (with regard to a
solution to the Cyprus problem) because after a solution is found, the
beneficiaries will be the legitimate citizens of this country, always of course
in accordance to the population ratio.”
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