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Wednesday, February 1, 2023

Coordination of CSEs with development agencies to attract investments

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Coordination of CSEs with development agencies to attract investments

At a meeting it was decided to take joint actions and set up an ad-hoc Committee

The CSE has taken the initiative to coordinate all development agencies in the country, in order to prepare proposals to the Government to attract foreign investment, through transparent and credible procedures.

In this context, he organized an online meeting on Tuesday, February 2, during which issues of economic and corporate development and attracting new investments were discussed.

The meeting was attended by the Presidents and officials of the Cyprus Chamber of Commerce and Industry (CCCI), the Federation of Employers and Industrialists (OEB), the Association of Chartered Accountants of Cyprus (SELK), the Association of Associates Cyprus Investment Promotion Agency (CIPA), the Cyprus Investment Fund Association (CIFA) and the Cyprus Fiduciary Association (CYFA).

Representatives of all participating economic operators were given the opportunity, in an open dialogue, to exchange views and record findings regarding current developments in the above issues. The attempt to formulate joint actions, with the aim of submitting suggestions to the competent authorities, for their promotion was also discussed. The aim is that, through the implementation of such suggestions, a practical and substantial result will be achieved that will contribute effectively to economic development.

The President of the CSE stated, among other things, that any future plans / regulations of the State to attract new investments, should focus on the existence of the necessary guarantees and transparent criteria, as well as rational procedures, which will ensure the credibility of Cyprus, the institutions and of its companies, through the adequacy and effectiveness of such arrangements to be introduced. He also said that the Stock Exchange, with its Markets, products and services and its existing structure, institutional background and modern logistical infrastructure, provides all the guarantees to contribute in a positive way to this wider effort to revitalize businesses and the economy.

It is also noted that the statements made by the officials of the above Organizations / Associations present at the meeting, focused on the need for a flexible and transparent framework, where they will be encouraged and attract targeted and effective domestic and foreign investments in productive / development sectors, in order to improve the competitiveness of Cypriot companies and the economy in general.

The participating Organizations / Associations decided to coordinate their actions in the coming months on the issues raised at the meeting and to set up an ad-hoc Committee, consisting of their Senior Executive Directors, to set up further actions. their. The aim is for these actions to result in the preparation and submission of a comprehensive joint memorandum with suggestions, in order to achieve common goals, for the benefit of the Cypriot economy in general.

Source: www.philenews.com

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