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The economy is taking off in 2022

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The economy is taking off in 2022

A wind of optimism prevails in the ruling party regarding the future of the Cypriot economy. They see avenues being opened for foreign investments but also for stimulating the tourist flow to Cyprus as well as for the creation of thousands of new jobs.

The President of the Republic, the Minister of Finance and the President of DISY made statements yesterday and spoke with great optimism about the future of the Cypriot economy. The first two spoke during a press conference for the presentation of the Strategy for Attracting Companies for Activation or expansion of their activities in Cyprus. The presentation was made by the Minister of Finance Konstantinos Petridis, in the presence of the President of the Republic.

In his greeting, President Anastasiadis stated that “this is a comprehensive Strategy with 12 targeted actions in five pillars, which in a holistic and well thought out way, and taking into account best practices from other European countries, aspires to make Cyprus as a Sustainable Business and Shopping Center of the wider region, but of course also of Europe.

Emphasis is placed on areas related to, inter alia, High Technology, Shipping, Innovation, Research and Development, Biogenetics and Biotechnology, without, and I emphasize, excluding any other companies that choose Cyprus as their place of business. The strategy we have drawn up is fully in line with the European acquis and the Long-Term Development Strategy 2035, and the new productive model that we aspire to adopt for Cyprus tomorrow, in accordance with the guidelines of the European Commission and the Recovery and Sustainability Fund. »

The plan was presented in detail by the Minister of Finance who, answering questions, stated that this strategy has nothing to do with the Cyprus Investment Program (CIP), as it concerns people active in Cyprus, employees, not companies and people who choose Cyprus as a country. their residence. He also said that there are similar programs in other European countries and is in line with the European Commission's recommendations for digital evolution, green growth and innovation. The Plan enters into force on January 1, 2022.

He also said that the tax incentives are related to income tax and not corporate tax and that there is no European framework for income tax.

He also stated that consultations were held with the social partners and the business world and that the plan does not affect the labor market in Cyprus, on the contrary, it will evolve and help it.

The casino is miraculous

The operation of the resort casino “City of Dreams Mediterranean”, which will be inaugurated next summer, will drastically change the data for our tourism, said the President of DISY, Averof Neophytou and the Chairman of the Board and Chief Executive Officer of Melco, Lawrence Ho.

The President of Melco, welcomed yesterday morning Averof Neophytou, who was given a tour of the site and was informed about the progress of the largest casino resort in Europe, located in Zakaki, Limassol.

At the end of the tour, Lawrence Ho expressed Melco's sincere thanks to the Government “for its continued support in this iconic project”.

He noted that the casino resort “will contribute to the establishment of Cyprus as a world-class destination for luxury hospitality and business tourism, throughout the year, further enriching and diversifying its tourist portfolio.”

With its completion, he continued, it is expected to become the largest and most luxurious multi-theme resort in Europe, “built according to Melco's recognized international luxury standards, and which will provide world-class hospitality and entertainment”.
The project, Mr. Ho pointed out, will attract additional visitors to the country and will create thousands of jobs, while contributing to the upgrading of the island's tourism product.

Congratulations Averoff to the Government
For his part, the President of DISY expressed his satisfaction with the level of work being done for the largest casino resort in Europe.
It is with these projects that we can create those conditions so that the tourist traffic is not limited only during the summer months, he said and noted that “Cyprus can become a destination for the whole year”.
This investment of more than 700 million, he continued, which will offer 2,500 jobs and employ 1,000 to 1,500 workers during its construction work, “creates huge prospects and will contribute to the further growth of our country's GDP.”
At the same time, Mr. Neophytou congratulated the Government “because with its strategy it attracted investors of world renown, investors who raise the prestige of our country with their quality investments”.

Source: 24h.com.cy

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