Issues concerning the implementation of major development projects in Cyprus and ways of solving problems that arise were put on the table at a meeting between the leadership of the association of major developments with the Secretary to the President, Constantinos Petrides.

According to an announcement, the two parties exchanged views on the simplification and acceleration of the procedures necessary for the implementation of major development projects as well as the investment opportunities offered by the private sector in Cyprus. The need for strategic reforms in the public sector in order to eliminate bureaucracy and to create a friendlier business climate was stressed. They also discussed the efforts to attract foreign investment and to find funding for major development projects.

The delegation of the association, under Chairman Andreas Demetriades, informed Mr. Petrides on the role that the association plays and the initiatives it will undertake in the near future. After the meeting, Mr. Demetriades said that the dialogue was very constructive and that paving the way for the implementation of major development projects is a common belief. "The Cypriot economy needs these important projects that will boost development activity, creating thousands of new jobs”, he added.

Mr. Demetriades also stated that "the course of consolidation of our fiscals is important to be combined with the modernization of the procedures and public administration structures. “We have to compete with other countries in attracting investment, therefore, not many options are left. We must eliminate bureaucracy and make the product offered to foreign investors more attractive”.

The Secretary to the President expressed interest in the positions of the association and agreed that the major development projects will contribute significantly to the efforts to restart the development activity in Cyprus.