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Next Previous Karousos: The goal is to attract investments for real estate and large projects HOME • INSIDER • CYPRUS • Karousos: The goal is to attract investments for real estate and large …
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Attracting significant investments in the real estate sector and the planning and implementation of major technical and construction projects are strategic goals of the Government to improve infrastructure, said the Minister of Transport, Communications and Works Mr. Giannis Karousos, speaking at the beginning of the 113th Congress. European Federation of Manufacturers.
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As Mr. Karousos explained, the construction sector is one of the driving forces of growth of the economy of Cyprus, with a significant contribution to the country's GDP. For this reason, he said, the Ministry of Transport, Communications and Works puts high on its priorities the issues that concern the construction sector and through various actions focuses on its continuous development.
Aware of the new data created by the war in Ukraine in the construction sector and the wider economy, the Minister stressed that the Government intends to make the most of the opportunities available to encourage and facilitate new investments, for which there is already interest from countries. abroad. At the same time, the Government is promoting its own operational program, which in recent years has given impetus to the development of Cyprus and the construction sector.
“Development projects that are announcements of the President of the Republic, with a total budget of € 1.2 billion, are already in progress or are being launched for implementation in the near future nationwide, with the aim of improving the quality of life of our citizens,” he said. Mr. Karousos. Listing some of the most important projects underway or soon to be promoted, the Minister of Transport referred to the infrastructure for the Vasilikos energy project, the New Cyprus Museum, building infrastructure in the field of health and government services, infrastructure for hosting refugees, infrastructure on the road network, the Nicosia Perimeter Motorway and sections of the Nicosia-Troodos, Limassol-Troodos, Paphos-Polis Chrysochous and Nicosia-Paleochori highways. In addition, with an estimated investment of € 1 billion, the Concession Agreement for the integrated Development of the Port and Marina area of Larnaca is in the process of implementation, a project that has already been delivered to the Contractor last month and is estimated to have multiple benefits for its local community. Larnaca Province, but also the economic development of the country in general, the Minister explained.
Mr. Karousos expressed the assessment that these projects, in addition to their immediate benefit as infrastructure, will have a beneficial effect on GDP growth, will significantly revitalize the construction sector and will create new jobs. “Strengthening the competitiveness of the economy is a key strategic goal of the Government, guided by sustainable development in an environment of financial stability and social cohesion,” he stressed.
Essential steps to strengthen the contribution of construction to the development process of the country include accelerating the implementation of already planned projects, providing incentives for investment in housing and other buildings, promoting private investment in infrastructure, setting priorities on the basis of a long-term strategic plan for infrastructure and ensuring a healthy competitive environment in the public works market, in order to optimize the cost-benefit ratio of infrastructure projects over their life cycle.
Undoubtedly, Mr. Karousos noted, “we are facing new challenges, which we are called to manage in the best possible way for the benefit of society. “Market data are creating new trends and, consequently, it becomes imperative for the construction industry to transform its business models and work environment, to redefine its values and to evolve its processes at the base of the new digital age.” p>
He conveyed the belief that, despite the problems posed by the pandemic and the war in Ukraine, “an opportunity opens before us to redesign a greener, more sustainable and rational model of development.”
Finally, the Minister of Transport, Communications and Works congratulated the Federation of Builders Contractors of Cyprus (OSEK) for the organization of the Conference, and thanked its members for the good cooperation they maintain with the Services of the Ministry, describing it as essential for the upgrade and highlighting the construction industry.