INVESTMENTS

Multiple actions in London for attracting investments in Cyprus.

The Cyprus Investment Promotion Agency (CIPA/Invest Cyprus) has had a multiple presence in London recently participating not only in seminars but mostly in targeted events.

According to the Cyprus News Agency (CNA) the organization and other pertinent government agencies have organized, amongst others, a conference for attracting investments in the renewable sources of energy of Cyprus. They participated in the great international film producers exhibition Focus and promoted the country as a shipping destination to prominent businessmen of the sector in the British capital in an event in which the Deputy Minister of Shipping Natasa Pilides participated.

In the conference for the exploitation of the renewable sources of energy, the politics that have been adopted by the government, the regulated environment, the planning for the exploitation of energy from these sources and the environmental design which characterizes the sector have been presented to potential investors.

It was presented by the Ministry of Energy, Commerce, Industry and Trade Permanent Secretary Dr Stelios Chimonas and Cyprus Electricity Regulating Authority Vice President Filippos Filippou.

They addressed to about 30 investment funds and companies which are active in the sector, noting that Cyprus can offer safe and mutually efficient investment opportunities in renewable energy.

‘The goal of this contact was to strengthen the plan which is in process for the materialization of projects in renewable energy for their integration in the competitive market of electricity’ Mr Chimonas stated in CIPA.

It is noted that as a percentage of total consumption, the renewable sources of energy cover at the moment 9,5% of electricity, heating and motion needs of the Cypriots.