Investors Are Invited for Public Projects in Cyprus
- Written by: Editor
- Posted: 2017-10-24
The Transport Minister Marios Demetriades invited the attendees of the 2nd International Investors Summit to take into account participating in public works and projects, some being in pipelines, including the commercialization of the Larnaca port this year. In this article, our lawyers in Cyprus further develop on the news.
Further details on the Minister’s invitation in Cyprus
The Minister declared that, through a set of important reforms, the country is developing into a leading global investment destination. Our Cypriot lawyers can offer assistance related to opening a company in the island.
In the sectors of transport, communication and works, he went on saying that there were initiatives to encourage the investment and development of the infrastructure in the country.
The commercialization of the Limassol port which took place last year is one good example, through which the biggest deep- sea port is has developed in one of the most up-to-date and lucrative ports in the area.
The Minister added that the developments in the energy industry are projected to add to this positive motion, whilst the maritime cluster in Cyprus, being one of the most solid in the world, is also projected to profit from this development.
Our attorneys in Cyprus can offer assistance in setting up a legal entity in the country.
The commercialization of the Limassol Port in Cyprus
The Limassol Port in Cyprus, which is the main port in the country, as well as the most eastern one of the European Union, lies favorably among three continents, having an extremely strategic location in the Mediterranean Sea.
In 2014, a multimillion-euro project started with the purpose of transforming the port into the most efficient, up-to-date, safe and competitive one in the southern Mediterranean.
To reach these purposes, the council of minister in Cyprus, combined with a legislative vote of the House of Parliament, designated the Minister of Transport, Communications and Works the job of commercializing the activities of the Port.
A key component of this plan comprised accomplishing the reform agenda which was established for the country’s support mechanism with the Troika. Our lawyers in Cyprus can provide help related to opening a business here.
If you would like to know more about transforming Cyprus into the most important trade and transportation hub, or for assistance related to any legal matter in the country, we invite you to get in touch with our law firm in Cyprus.