How to attract the good foreign investments?

Как Кипру привлечь качественные иностранные инвестиции?
23 November 2020 Liza Medvetskaya
2505

November 23, the Finance and Competitiveness Council (ΣΟΑΚ) said, that the country has an urgent needs to immediately adopt essential reforms that will help to create a more competitive and modern environment aimed at sustainable development and attracting foreign high-quality and productive investment.

In particular, the Finance and Competitiveness Council made several recommendations aimed at improving the business environment and further revitalizing foreign investment, which include:

  • ensuring transparent and reliable procedures for all enterprises;
  • simplification and acceleration of the relevant processes;
  • using the fast activity mechanism to serve foreign investors both before and after attracting investments;
  • provision of subsidies;
  • attracting foreign investors from the Cypriot diaspora;
  • liberalization of specific sectors of the economy;
  • incentives and assets for the digital sector;
  • revision of tax incentives, expansion of existing ones, strengthening tax incentives for enterprises investing in industrial and hotel complexes, etc.

Finally, the Council stressed the need to create a solid institutional framework that will provide a solid foundation for the country's development, lead to social progress and prosperity, and restore citizens' confidence in public administration.

Source: philenews.com
Photos: pixabay.com
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