President reveals that significant new investments are on the way
10:57 - 09 May 2023
New major investments that will be announced over the coming period, the President of the Republic Nikos Christodoulides has announced, addressing the 13th Nicosia Economic Congress.
"We are already in consultations and within 2023 we will see significant investments in our country," he said, emphasising the benefits that the country enjoys through its excellent international relations.
Speaking at the 9 May event, he also called for a collective effort to implement the Recovery Plan, for an avoidance of actions being derailed by election cycles and also called for the strong defence of Cyprus’ reputation in relation to the recent sanctions.
In his speech at the event, presented by Pancyprian Insurance, Hellenic Life and ECOMMBX, Nikos Christodoulides explained how he and his government will transform Cyprus into a model state that will attract investments, promote entrepreneurship and offer a quality standard of living to its citizens.
Cyprus has always been deeply committed to economic progress and development, he said, assuring that "we will work hard to create an environment conducive to prosperity and progress".
"Particularly today when we are at a crossroads where we are called upon to successfully face e challenges and seize the opportunities in front of us," he added.
After reviewing the current state of the economy and its recovery after the health crisis, the President said that the challenges of 2023 with the continuation of new crises are expected to be greater than those of last year. Although at a slower pace, the economy will move on a positive trajectory, he underlined.
At this point he announced new major investments. "We are already in consultations and within 2023 we will see significant investments in our country," he said while praising the importance of Cyprus' good diplomatic relations. "I consider that by making the most of our political relations, on the one hand, with the countries of the wider Middle East as well as India and Japan, and in the context of our strategic relationship with the USA, we will continue to have important investments to announce", said the President of the Republic.
The 1st package of information from the USA has arrived
The President also addressed the sanctions and the reputation of our country saying that it is time to move on to a new era. "Yesterday we received the first package of information from the US. I spoke with the Attorney General this morning and all the information we received yesterday will be sent to him today to start processing and we are waiting for the other two packages of information from the US," he said, informing the audience of the ongoing processes.
He emphasised the need for the matter to be handled with due seriousness while not allowing anyone to tarnish the good name of our country. "Let's get this over with" was his signature statement and move on to the new era.
He once again called for the cooperation of the political parties saying that the state would implement its governance programme which he described as feasible.
The Recovery Plan
The focus of our strategy is guided through the implementation of the National Recovery and Resilience Plan, a fact that Nikos Christodoulides pointed out during his speech. "Let’s not allow our every effort to be affected by electoral cycles", he said in this regard and spoke about measures that must be implemented in a timely and effective manner to correct the weak points of our economy through sustainable actions.
The Plan can lead to economic development, explained the President of the Republic. It is expected to increase employment by more than 2.5% which translates into 11,000 new quality jobs.
"The main concern of our own government is cooperation with all institutions and parliamentary parties," he said, expressing the hope that there will be cooperation beyond the approaches seen during the pre-election period, in order to prevent the loss of valuable European resources. Placing special emphasis on this issue, he appealed for cooperation.
He also spoke about the "Vision 2035" strategy which aims to make Cyprus one of the best places in the world to live and do business.
This was followed by an analysis of the Recovery Plan and the priorities in investment and especially in human resources, while he also paid attention to the measures taken for a green development of the country.