Agis Loizou, High Commissioner of Cyprus in India recently interacted with businessmen from various fields at a round table discussion organised by Bharat Chamber of Commerce (BCC). Loizou highlighted several unexplored areas of trade and investment opportunities during the discussion.
Loizou referred to a lot of business opportunities. First, what government of Cyprus is offering them, especially in the tourism sector? Tourism is the largest and most profitable industry of the country. Secondly, Cyprus is an attractive destination for luxurious real estate investments. The picturesque country has a booming tourism sector with 4 million tourists visiting the country every year. Thirdly, Cyprus harbours a strong pharmaceutical, cargo handling, shipping and logistics base with potentials of foreign investment. Cyprus also has a huge amount of natural gas reserves which creates an excellent opportunity for investment in the country’s energy sector. The system in which the government functions is explicitly transparent. Red-tapism is apparently absent. The government’s fight against economic evils like money laundering has been highly successful. The levied income tax for foreigners in Cyprus is very low. Additionally, the direct trade and maritime agreements of the country well facilitates its foreign trade and investment opportunities Sitaram Sharma, President, BCC, pointed out that Cyprus is emerging as an attractive investment destination after its recent policy reforms.