Minister: UAE begins investments in Cyprus

There is a vivid interest for investments in Cyprus from the United Arab Emirates, Minister of Communication and Works Tasos Mitsopoulos has said.

Referring to his recent visit to the UAE, Mitsopoulos said that “there is a sincere interest for investments” adding that the Ministry has already approved necessary permits to this cause.

He also said that UAE nationals have applied for Cypriot citizenship which was granted to them in the framework of the new plan approved by the Council of Ministers to attract foreign capital and investments, enabling foreign nationals to obtain the Cypriot citizenship if they meet certain criteria.

Mitsopoulos said that the UAE investments are in the field of energy and they concern services on the platforms for exploitation of hydrocarbons reserves in Cyprus’ Exclusive Economic Zone, as well as other activities in the field of tourism, infrastructure, casinos.

He also announced that the President of Cyprus would soon be paying official visits to Kuwait, Qatar and the UAE, to further develop economic bilateral relations