NewsLocalPresident to outline strategic vision for Cyprus' shipping sector on October 12

President to outline strategic vision for Cyprus’ shipping sector on October 12

President Nicos Anastasiades will outline the government’s strategic vision for the ‘very resilient’ shipping sector of the Mediterranean island on October 12, Philenews reported on Monday.

The plan, approved by the Cabinet, includes 35 targeted actions while adapting the organisational structure and practices of the Deputy Ministry of Shipping to today’s challenges and emerging opportunities.

This is to ensure a sustainable future for Cypriot shipping which now represents 7% of the country’s GDP, according to the President who said this during a recent dinner in Athens organised by the Cyprus Union Of Shipowners.

He also said the Cyprus-flagged commercial fleet has surpassed 25 million gross tons in total capacity.

Tax and other incentives, within the framework of European Union guidelines, are part of the plan whose aim is to enhance the services provided to shipowners, shipping magnates and ship management companies.

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