Association of Large Investment Projects and CIPA coordinate to attract investments

Press Release (13 January 2014)

Promotion of the private sector’s large investment projects abroad

The Association of Large Investment Projects and Cyprus Investment Promotion Agency (CIPA) agreed in a meeting to coordinate efforts and take joint initiatives to promote large investment projects of the private sector abroad, with the aim of attracting investors

During the meeting, which was joined by the Board of Directors of the Association as well as Mr Christodoulos Angastiniotis (Chairman) and Mr Charis Papacharalmbous (Director General) of CIPA, the international competitive environment in which the two organisations are active was analysed, as were the new conditions that have been created in the Cyprus economy over recent months. The two sides also discussed the matter of promoting large investment projects abroad in detail, in light of the forthcoming missions planned by the government and CIPA. Participants highlighted the need to correct distortions and combat bureaucracy in the public sector, modernise the structures, legislations and practices, as well as restore our economy’s competitiveness.

After the meeting, the Press Spokesman of the Association of Large Investment Projects, Andreas Demetriades, stated: “The attraction of foreign investors is a basic factor for the implementation of investment projects that are in the works. We believe that CIPA has a very important role to play in this effort, which is why we are seeking to develop substantive cooperation.” He added, “Good coordination is required to achieve our common goal, which is none other than to lay the foundations for a healthy recovery our economy”.

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Association of Large Investment Projects

The mission of the Association of Large Investment Projects is to promote and realise large scale development projects in Cyprus. Its goal is to restart the economy and contain unemployment. The Association is a member of the Cyprus Chamber of Commerce and Industry (CCCI) and represents more than 25 companies active in Cyprus. The Association’s members come from the entire spectrum of the Cyprus economy and represent projects with a total value in excess of € 8 billion. Among the Association’s main priorities is the issue of creating a friendly business environment, so as to overcome barriers that discourage or eliminate foreign investors.