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Qatari Investment Interest in Cyprus

Remarks by Cyprus Government Spokesman on the President of the Republic’s visit to Qatar

Published on: 27 January 2014

There is interest for investments in Cyprus by Qatar, the Government Spokesman Christos Stylianides, adding that on the instructions of the Emir a delegation from Qatar will visit Cyprus in the coming weeks in order to examine the possibility for investments.

In remarks to reporters, on the sidelines of the visit of the President of the Republic in Qatar, the Government Spokesman said: “The meetings of the President of the Republic and the Ministerial Delegation started this morning with the most important meeting being the one with the Emir of Qatar. We also had a meeting with the Investment Authority and the Islamic Bank.

It is being demonstrated that this visit was worth our while. We will not assign more expectations than reality itself allows us, but it seems that there is an interest. This interest is demonstrated by the fact that the Emir of Qatar has already given instructions to the Investment Authority and to other technocrats and experts of the Emirate to send a delegation to Cyprus in the coming weeks to examine the possibility for investments.

It is the purpose of the President’s visit to attract investments from a country which, as it is known, is an international investor. Qatar’s investments around the world are familiar. We hope that we have provided clearly the specific comparative advantages that Cyprus has today as an investment destination. There is interest in tourism issues, health services, and fish farming as well as in other sectors.

Beyond any illusions, there is an interest, but the evaluation of investments takes place in practice. Of course the visit of the President of the Republic and the Ministerial Delegation has another, equally important, dimension: Through the projection of Cyprus, the business activities of Cypriot companies are being promoted in the area of the Persian Gulf and particularly in Qatar. It is known that many companies are engaged in the region and in Qatar and they try in every possible way to ratify contracts. These contracts, as everybody realizes, will help so that we will also have more employment positions for Cypriot scientists, who will of course find themselves located outside Cyprus, but will at least be able to have employment and help these Cypriot companies to have a high level of efficiency and presence, as well as very significant esteem and trustworthiness.”

The Government Spokesman added that “the evaluation of the visit will take place tomorrow. There are more items on the schedule of the visit; however, we note until now, that Cyprus is viewed positively and credibly as an investment destination. There will be an examination of the investment possibilities and, at the same time, the presence of the President of the Republic and the Ministerial delegation, through their esteem and authority, help significantly the Cypriot companies that are in the area to increase their chances to ratify contracts of Cypriot interests.”

Asked if there is an interest on the part of Qatar on the issue of privatisations, Stylianides said that “there was also interest on the issue of privatizations. Nothing specific can be said at this time because we will have a visit by a specific team from Qatar in Cyprus to examine all the contingencies and possibilities.”

Asked if there has been a political benefit from the meetings of the President of the Republic, Stylianides responded: “Very clearly. The meetings were held at the highest level and certainly in a friendly atmosphere."

 

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