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Cyprus President Nicos Anastasiades has invited businesspeople in Lebanon to explore ways to invest in Cyprus and take advantage of the wealth of opportunities available in all sectors of the economy. 

Speaking at the Cyprus-Lebanon Business Forum, in Beirut, organized by the two countries` Commerce and Industry Chambers, Anastasiades stressed that the business community of Lebanon can rest assured that Cyprus will remain a reliable partner and will retain its position as a significant international hub for Lebanese and Cypriot business and investment. 

"I am confident that all of you –as the most important components of our efforts for further advancing our economic partnership- during the numerous meetings to be held today and taking into account your entrepreneurial inventiveness and resourcefulness, will identify a number of new joint businesses initiatives, as well as new areas for future cooperation," he noted. 

Furthermore he assured that the Government stands ready to offer all the help and assistance deemed necessary and will facilitate every business and investment initiative involving the Lebanese administration. 

Anastasiades said that the Cyprus-Lebanon partnership is greatly valued by the Government and the people of Cyprus and is one that we are committed to continue upgrading and enriching, so as to foster even stronger links between our Governments and peoples. 

"It is for this exact reason that today I am accompanied by the Minister of Foreign Affairs, and the Minister of Energy, Commerce, Industry and Tourism, a strong business delegation, and members of the influential Maronite and Armenian communities, with the aim to establish contacts and channels which will enable us to achieve a substantial and strategic upgrading of our economic and investment partnership," he noted. 

Anastasiades said that during the various meetings he held with the political and religious leadership of Lebanon, "we reaffirmed our reciprocal political engagement to qualitatively enhance our relationship, through exploring new areas of beneficial cooperation, as well as deepening and enhancing our existing ones." 

He expressed satisfaction and gratitude for the vote of confidence, trust and faith which the Lebanese people have been demonstrating towards Cyprus and its financial and economic system and assured that "Cyprus will remain a reliable partner to all of you, especially since we are now emerging stronger than ever from an unprecedented crisis, and our journey along the road to recovery has been faster than anyone could predict." 

The deep recession and the severe financial crisis are fortunately behind us, he said according to a press release issued by the Presidency. “Cyprus is now one of the fastest growing economies of the EU, currently with growth rate just short of 3% of the GDP. Our banking sector has undergone an ambitious restructuring, and now stands on a much healthier footing.” 

He emphasized the strong commitment of the Government to continue working so that Cyprus remains firmly on a path of sustainable growth, noting that "we are committed to maintain a stable and competitive tax regime. We shall continue to invest in our human capital, supporting higher education and research. And we shall continue to stand by the local and foreign business community, always striving to create a business friendly economic environment." 

He also noted that the ratification of the Delimitation Agreement of the Exclusive Economic Zone signed with Lebanon in 2007, will constitute an important development in creating further regional synergies in the exploration and exploitation of Eastern Mediterranean’s significant natural resources and the driving force for an enhanced partnership between our two countries. 

Furthermore, he said that "the unique combination of EU membership, the Anglo-Saxon legal framework, the beneficial tax regime and the highly-skilled workforce, all contribute to Cyprus’ establishment as an attractive investment destination, offering significant opportunities and easy access not only to European markets but also to those of North Africa, the Near and Middle East, the Gulf region and Asia." 

Anastasiades expressed confidence "that the Cyprus-Lebanon Business and Professional Association, our respective Chambers of Commerce and Industry and our relevant professional associations and bodies, will continue taking advantage of Cyprus’ competitive edge in the financial services sector, including the comprehensive legal framework between the two countries which covers areas of cooperation such as Double Taxation, Protection of Investments, Tourism, Health and Scientific Cooperation."

Sourse:StockWatch