The construction of a new Pharmaceutical Technology Park in Paphos has been frozen because of the COVID pandemic.
As it turned out, negotiations with officials from China about the construction of the park were initially postponed, and then were completely suspended.
A representative of the Chamber of Commerce and Industry said that the uncertainty caused by the coronavirus pandemic at the global level prevented the promotion of not only the Pharmaceutical Technology Park in Paphos, but also other large-scale projects in Cyprus.
Investors no longer want to risk their money without knowing what will happen tomorrow.
As you may know, the agreement on the construction of a Pharmaceutical Technology Park in Paphos was reached several years ago, during the visit of Cypriot officials to China.
The delegation of the Cyprus Chamber of Commerce and Industry discussed with Chinese colleagues from the Life Health Industrial Park in Changzhou the construction of a technology park in Paphos and signed a memorandum of understanding.
The main goal of this cooperation was the construction of a technological science park in Paphos, specializing in biotechnology, pharmaceutical industry, biological medicine and medical equipment, in order to promote the city as a research and development center.
The Life Health Park, which is part of the national high-tech district of Changzhou and covers an area of 11.5 km2, should have been taken as an example during construction. It is a scientific and technical center specializing in biotechnology and the pharmaceutical industry, the production of healthy food and medical equipment.
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