Paschalides noted that the government of Cyprus has recently decided for the upgrading and expansion of the One-Stop Shop in order to operate as the Point of Single Contact in accordance to the Services Directive, whereby service providers can complete all procedures and formalities needed for access to and exercise of their service activities.
He said that furthermore the newly established Cyprus Investment Promotion Agency is expected to play an important role in attracting foreign direct investments in targeted sectors and promoting Cyprus as a business bridge linking the European Union with the Middle East. CIPA is committed to providing extensive and professional assistance to foreign based companies as well as individuals who wish to investigate the possibility of investing in Cyprus, Paschalides added.
As he stressed, accessing to the European Union and Eurozone while offering a unique basket of comparative advantages, deriving from its strategic geographical location, favorable business climate, fiscal regime, stable macroeconomic environment in conjunction with the modern legal, banking and financing systems, excellent infrastructure as well as the advanced transport and telecommunications network, Cyprus retains and enhances its competitiveness as an international business centre and becomes a stepping stone for investments.
