REPORTERNET.COM

President of the Republic of Cyprus Demetris Christofias has assured that ''we will continue to encourage and support the activities of international companies in Cyprus, while at the same time promoting new measures to ensure that the attractiveness of the investment environment is constantly upgraded.''

Addressing the Russian-Cyprus Business and Investment Forum in Limassol, President Christofias pointed out that ''the Government, recognising the importance of foreign investment in the development of the Cyprus economy, has established the Cyprus Investment Promotion Agency, which in partnership and collaboration with the Cyprus Chamber of Commerce and Industry and other stakeholders, work closely to enhance even further the investment environment of Cyprus and to promote the country as an attractive platform and destination for foreign investors.''

The President said Russia and Cyprus enjoy very strong and historical ties, and these have been mutually beneficial and very successful for our countries’ political, economic and business relations.

He added that Cyprus has a market-oriented economy and is a wealth of untapped opportunities for Russian investors, and that Cyprus provides an excellent platform for conducting and managing business activities from Russia to Europe and vice-versa.

''Cyprus is an international business hub for Russian business people as evidenced by the fact that Foreign Direct Investment into Cyprus from Russia has exponentially increased in the past couple of years. In fact, Russia has traditionally been a large contributor of Foreign Direct Investment Inflows to Cyprus, with its economy playing a significant role and acting as a catalyst of growth for the Cyprus economy,'' he noted

(source: www.financialmirror.com)