The Deputy Minister of Shipping underscored the commitment of the Cyprus Shipping Administration to intensify efforts in further supporting the shipping industry, while welcoming the International Investment Conference 2024 held in Limassol on Thursday and Friday.
The conference is organized by the UK-Cyprus Business Association, aiming to promote business networking between the two countries.
In her address, Deputy Minister Marina Hatzimanolis referred to the current events, citing turbulent weather and challenges facing the shipping industry.
“We are convinced that the steps taken to enhance competitiveness and promote shipping will contribute to our vision for the development of our maritime complex in both size and scope of activities and pave the way for a future defined by prosperity, opportunities, and continuous success,” she said.
Hatzimanolis referred to the excellent relations between Cyprus and the United Kingdom, recalling the signing of a Memorandum of Cooperation between Cyprus and the United Kingdom in the field of Shipping.
“Therefore, events like this create an even stronger bond between our two countries,” she noted.
“The history of shipping dates back many centuries. The strategic geographic position of the island of Cyprus, at the crossroads of three continents, played a crucial role in the development of Cyprus as a significant maritime centre. The establishment of the Deputy Ministry of Shipping in 2018 undoubtedly marked a new era for shipping in Cyprus, demonstrating the political support and commitment of Cyprus to the shipping sector,” she added.
As Hatzimanolis stated, there has been an increase in the number of ships registered under the Cypriot flag in recent months, amounting to 5.5%.
“Cyprus is a modern, efficient, and integrated maritime transportation complex and is also ranked among the top in the world. As a third-party ship management centre, it is the largest in Europe and among the top three worldwide,” she noted.
Among other things, Hatzimanolis also referred to the investment opportunities and prospects offered by Cyprus.
British High Commissioner Ben Rawlings addressed in his greeting the modern challenges arising from wars in Ukraine and the Middle East, the economic crisis, and the implementation of Artificial Intelligence.
Rawlings stated, among other things, that the United Kingdom, as a global economic power, continues to seek and offer opportunities, being one of only three countries in the world with a multi-billion-dollar digital technology sector.
“Our focus is on investments, as they are the main driving force for development,” he said.
Cyprus, he added, “has proven that it can overcome challenges and emerge as a leader in many fields.”
“Aiming to attract economic investments in financing, shipping, and technology, establishing the island as a central destination and with a growing tourism industry, Cyprus is building strong regional and international partnerships. By offering an attractive environment for businesses and employees, Cyprus meets the expectations and modern needs of the world,” the High Commissioner noted.
On his part, the President of the Cyprus Business Association, Savvas Kyriakides, referred to his actions to further strengthen cooperation between the two countries in the field of investments and business networking.
He said the conference this year focuses on promoting real estate and other investment opportunities in Cyprus and the UK.
The conference was also welcomed by Limassol Mayor Nicos Nicolaides, who referred to the prospects offered by Limassol for investments.
The conference concludes tomorrow, with investors participating from other countries as well.
