There are significant prospects for development projects in Cyprus, EU Commissioner says

European Commission Vice President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen has said that there are significant prospects for development projects in Cyprus, referring notably to the areas of tourism, energy efficiency, renewable energy sources and research & innovation.

In a televised message at a Limassol Europe Direct information and networking event on Europes Investment Plan and ways to make the most of it in Cyprus, Katainen referred to the recovery of Cyprus economy after a remarkable reform effort in the past three years.

Growth in 2016 was strong and it is expected to remain strong this year, he said, adding that this is excellent news. He congratulated the Cypriot authorities on their commitment to improve economic conditions in the country towards sustainable growth.

In Cyprus, the European Commissioner said, the Investment Plan for Europe is making progress in the context of the European Fund of Strategic Investments for the financing small and medium size enterprises. He also expressed the view that that there are significant prospects for development projects in areas such as tourism, energy efficiency, renewable energy sources, research & innovation.

Addressing the event on behalf of the European Commission representation in Cyprus Michalis Stylianou said that only two years after the Investment Plan for Europe was launched Euros 183 billion have already been mobilised across Europe from a total Euros 315 billion provided for in the plan for a period of three years, or 60%.

The plan has already had concrete results and has benefited people and businesses all over Europe, he said, adding that in order to achieve our goal and create even more jobs we need seminars like this which brings together interested parties and experts.

On his part Cyprus University of Technology (CUT) Rector, professor Andreas Anayiotos said that Cyprus has managed to get support through the plan for projects which are economically viable, mature and compatible with EU priorities and which maximise as much as possible private sector financing.

He expressed the view that there is room for more synergies between the public and private sectors, in more areas and thematic investment platforms such as transport, education, energy, digital economy, social infrastructure and environment even on cross border projects.

Source: Cyprus News Agency