The government will announce in the coming months a new incentive scheme for attracting high-tech companies, which will facilitate the placement and hiring of employees and will offer tax incentives and faster licensing procedures, the President said on Wednesday night. Of Democracy, Nikos Anastasiadis, in his greeting at the 9th investment ceremony of the Invest Cyprus International Investment Awards, at the Presidential Palace.
The President of the Republic stated that “this program complements other initiatives we have recently taken, such as the introduction of employment paths for skilled third-country nationals specializing in information and communications, and the establishment of a rapid business activation mechanism to simplify services offers the public to companies that wish to establish their presence in Cyprus “.
President Anastasiadis said, among other things, in his greeting that as the Cypriot economy has entered a recovery trajectory, it grew by 12.8% in the second quarter of 2021, exceeding initial expectations and showing positive prospects for the coming quarters.
“Our motto in Cyprus is that with every challenge, there is an opportunity. “In this context, the Government's broader strategy for economic recovery also includes the implementation of the necessary structural reforms for the further development of key economic sectors,” he said.
To this end, he said, we have taken a holistic approach and taken concrete measures to support sustainable development through our Government's “Cyprus for Tomorrow” plan, with a total budget of 4.4 billion euros, which includes the main European Funds, namely the Recovery and Sustainability Fund and the Cohesion Fund.
“This plan aims to help the recovery of the economy, as well as to create a new vision for our country, which will serve as a roadmap for the era after COVID-19,” said President Anastasiadis.
He pointed out that it is a key tool for restoring economic activity and employment, at the same levels as before the pandemic, and for effectively promoting the green and digital transition.
He also said that “in order to meet the challenges we face, numerous reforms are being promoted, including in the areas of public and local government, health, labor, education and the judiciary, as well as the liberalization of the energy market, digital transformation. and research and innovation “.
At the same time, he noted, through the “Cyprus for Tomorrow” plan, a National Promotion Service will be set up, with which it is expected that numerous financial programs and programs will improve access to finance and liquidity, especially for small and medium enterprises.
At the same time, research and innovation grant programs, as well as the establishment of a central knowledge transfer office, are expected to increase investment in research and innovation, he added.
President Anastasiadis said that “according to the latest report of the Institute for Management Development for the Global Competitiveness Center 2020, Cyprus' ability to attract and facilitate foreign direct investment and the adaptability of its policies have yielded remarkable results.”
In particular, he said, Cyprus has been declared the most improved country, rising eleven places and occupying the 30th place in the world.
He noted that the above results clearly show that over the years Cyprus has become a key destination for international business and investment in the region, with significant potential to become a world-class hub.
The President of the Republic assured that “we will not deviate from the course of good governance of public finances, which will be complemented by a business-friendly investment environment, moving forward with an integrated government strategy to facilitate investment, in order to transform the Cyprus in `Sustainable Business and Trade Center of Europe`».
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