Minister of Commerce, Industry and Tourism, Antonis Paschalides has pledged the Government’s firm commitment towards safeguarding and enhancing the competitiveness of Cyprus as a cost-effective platform for international business operations and a gateway for cross-border investment cooperation across Europe and the Middle East.

In an address at the Cyprus 2011 Fiduciary Conference, read by of Registrar of Companies and Official Receiver, Spyros Kokkinos, Paschalides told delegates that “every effort is expended to reduce bureaucracy and new working methods are adopted in order to make much easier the life of businessmen and of ordinary people”.

At the same time he emphasized the Government’s firm commitment towards safeguarding and enhancing the competitiveness of Cyprus as a cost-effective platform for international business operations and a gateway for cross-border investment cooperation across Europe and the Middle East.

Cyprus, said the Minister, “has achieved this international status because of the hard work of our service providers, who have capitalized on some attractive comparative advantages and incentives that our island offers to international business operators and investors“, such as favourable corporate tax regime, liberal foreign investment environment and the island’s strategic geographic location, strengthened by its membership of the EU and the eurozone and the well-developed socio-economic infrastructure.