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Cyprus News Agency: News in English, 13-08-26
CONTENTS
[01] Conference to stress Cyprus' importance as international business
centre
[01] Conference to stress Cyprus' importance as international business
centre
The competitiveness of Cyprus as an international business center and
prospects for Russian companies and investors in the light of recent
developments in Cyprus' economy, will be discussed during a conference
organized by the Cyprus-Russian Business Association (Cyprus Chamber of
Commerce and Industry) on 19 September.
The conference, titled "The Future of Cyprus for Russian Business," aims
to send the message that despite the developments in the financial sector,
Cyprus is still in the international business map and can compete with
countries with similar business environment such as Malta and Luxembourg.
Speaking to CNA, Director of the Cyprus-Russian Business Association
Antis Nathanael, stressed that the recent developments in Cyprus'
banking sector should not be linked to the international business
sector. "Although some companies", he said, "have left Cyprus, the
majority continue their operations in the island, despite the outflow
of deposits". As he explained, while a company can be based in Cyprus,
its funds could be abroad. He also expressed the belief that with
determination and dynamism that Cyprus will gradually recover.
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