Egypt’s minister of trade and industry has given the green light for its end of a Cyprus-Egypt business association to go ahead even though an agreement to set it up was made in 2001.

Cyprus is increasingly ranked on the shortlist of decision makers when it comes to choosing the right location to establish international and regional headquarters, thanks to its rapidly growing economy and cost-effective business environment.

Leading leisure airline and package holiday specialist Jet2.com and Jet2holidays recently announced new routes between Paphos and Belfast International and between Larnaca and Birmingham.

Paphos has been named the ninth best European destination in Lonely Planet’s top ten places for international travellers to visit this summer.

Efforts are underway by Chinese investors to build a huge industrial park in Paphos with the search already underway according to the Paphos Chamber of Commerce and Industry (PCCI).

The International Monetary Fund said recently it welcomes Cyprus’ economic recovery and the prudent macroeconomic policies, as the island seeks consent for early repayment of part of the bailout loan it received from the IMF.

Cyprus has introduced attractive incentives for expatriates and high-net-worth individuals to adopt non-domiciled (non-dom) tax resident status in Cyprus.

Cyprus’ strong GDP growth is credit positive for Cypriot banks because it will strengthen their clients’ capacity to restructure and service their high levels of distressed debt, according to Moody’s credit outlook.

The current problems with the supply of goods within the EU and the proposed solutions through the new VAT Action Plan, VAT problems and solutions for the holding company and how Cyprus can make use of the EU Court of Justice are some of the issues that will be addressed at the very first-of-its-kind Limassol VAT Forum 2017, in June.

Cyprus is a world class shipping centre, and this is attributed to a large extent to its passionate shipping people, their knowledge, know-how and expertise, Minister of Transport Marios Demetriades has said, addressing the annual ‘Frederick Maritime Day’ event, organised by the Frederick University of Cyprus.