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Anastassiadis told about the development of Limassol

Anastassiadis told about the development of Limassol

25 May 2018
Tags: Cyprus, Anastassiadis, Limassol, Economy

Over the past two years in the region of Limassol, projects have been realized or started for a total amount of 400 million euros. This was reported by the President of Cyprus Nikos Anastasiadis, speaking at a meeting with municipal and local authorities in the city hall. At the same time, he stressed that in many cases there are unprecedented bureaucratic delays and violations of standards.

The President also noted that "recently there has been a completely unacceptable phenomenon: many contractors are not fulfilling their contractual obligations, as a result of which contracts are canceled and tenders must be re-conducted," which further delays the implementation of projects.

Among other things, Anastassiadis paid special attention to the privatization of the port of Limassol, as a result of which in the first quarter of 2018 the budget received 58,9 million euros compared to 36,4 million a year earlier and 34,2 million in the corresponding period of 2016. At the same time, investors invested in the development of the port 113 million euros, of which 36 million - this year. In addition, the creation of the Ministry of Shiping, together with tax incentives, attracted a number of new shipping companies to Limassol. Since the beginning of 2018, 52 new vessels have been registered under the Cyprus flag.

Another important project the president called the opening of the resort-casino, which, according to forecasts, should attract to Cyprus an additional 300 thousand tourists, generate revenue of 700 million euros per year and create 6 500 jobs. Among other major undertakings is the construction of a new football stadium and the opening of the German Cancer Center, with which the government intends in the coming days to sign an agreement on the care of cancer patients from the regions of Limassol and Paphos.

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