NewsLocalCyprus has paved the way for its post-Covid growth model, says President

Cyprus has paved the way for its post-Covid growth model, says President

Cyprus has paved the way for its post-Covid growth model, President Nicos Anastasiades told the Annual Christmas Gala Dinner of the Cyprus Chamber of Commerce and Industry and the Cyprus-Russian Business Association in Limassol, on Friday evening.

“Cyprus tomorrow” is how the model is called and provides for the absorption of 4.4 billion euro for the period 2021 – 2026, he also said.

And it is expected to generate an additional 7% in Cyprus GDP while it is estimated to create over 11,000 jobs, he added.
“The COVID-19 pandemic has drastically altered our way of life with a devastating blow to our economies and societies and this new reality offers us the opportunity to focus on reinvigorating our economy,” Anastasiades said.

“As well as to further diversify and strengthen our growth model so to be able to immediately adapt to any unforeseen crises and to successfully tackle the challenges of the new era,” he added.

The President also highlighted the important role of the active and ever-expanding Russian community in Cyprus, particularly in coastal Limassol.

“It is indeed no exaggeration to say that the strong interpersonal links between Cypriots and Russians constitute a fundamental pillar of our bilateral relations and have been at the epicentre of efforts to advance our mutually beneficial partnership”, he also said.

He then referred to projects in “Cyprus tomorrow” plan which include actions regarding the strengthening, the resilience and competitiveness of the economy, investments and reforms to widen the productive base of the primary and secondary sectors of the economy.

Plus, boosting research and innovation and improving the business environment through expediting licensing procedures and providing incentives for relevant investments.

 

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