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Cyprus PIO: News Update in English, 99-03-04
From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
Thursday, 4 March 1999
CONTENTS
- [01] Government promotes Cyprus as an international business centre
[01] Government promotes Cyprus as an international business centre
The government, recognising the importance and potential of the international
business sector, is very keen on promoting its expansion, Commerce,
Industry and Tourism Minister Nicos Rolandis stated yesterday.
In his address at the Annual General Meeting of the Cyprus Offshore
Enterprises Association, held in Limassol, Mr Rolandis stressed that the
country's "strategic location coupled with the excellent political and
economic relations with our neighbours,.. a wide range of high quality
professional services and the favourable economic and business environment ,
make Cyprus and ideal hub for business activities".
Mr Rolandis also stressed that the services sector accounted for about 73
per cent of the Gross Domestic Product for 1997 and noted that the sector
is increasingly becoming export oriented.
He also said that "more than 37.000 permits have been issued by the Central
Bank for the registration of international business companies noting that
currently 1050 operate with fully fledged and fully staffed offices and
that in 1998, 4.846 new international companies were registered.
The Minister pointed out that the government is taking all necessary
measures to enhance and further expand the offshore sector adding that "the
existence of the strong and dynamic business sector is the prerequisite for
the creation of a healthy and competitive economy fully integrated into the
international environment".
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
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