CIPA is urging everyone to demonstrate cautious optimism as regards foreign investments in Cyprus, in the light of a visit to the island by investorsfrom Kuwait, who concluded their visit recently.

The investors had meetings with the government and CIPA, expressing their satisfaction with the meetings they had, pointing out how encouraged they are.

Speaking Friday at Larnaca airport, on the departure of the investors, CIPA President Christodoulos Aggastiniotis said that Cyprus offers many opportunities for investment, having many advantages as an investment destination. He added that following today’s upgrades of the Cyprus economy by two rating firms, “we are on the right track”.

He urged however to be “down to earth”, reaffirming that CIPA will continue its efforts to attract foreign investments and will continue to assist investors in whatever they might need. Aggastioniotis pointed out once again that foreign investments are the key factor to economic recovery and job creation.

Tariq Abdul Salam, from Kuwait Investment Project Holdings Company, said that during the visit, CIPA provided them with a great outlook about Cyprus, the legislation, the way of investing and available opportunities. "We really appreciate all the efforts and hopefully we will make a future decision to invest in Cyprus because we really believe in it", he added.

Replying to a question about specific investments in Cyprus, he said that this is the first time they came here, they have accumulated a lot of information and definitely they will seriously investigate the opportunity to invest here. Salam congratulated everybody on the upgrade of the economy from two rating agencies, expressing confidence that "more upgrades are going to come".

Sadoun Ali, member of the group, said that Cyprus will move forward "because of the way it has been managed and promoted".

He expressed his gratitude to both the Government and CIPA for the information they provided them with. He said that they are encouraged very much "to look to different opportunities and study them more and hopefully we will have something in the future between Kuwait and Cyprus".

Majed Al-Ajeel, party to the Burgan Group in Kuwait, expressed his satisfaction about the meetings with the Government and CIPA, saying that they were very much encouraged by what they heard about development in Cyprus.

"We are very much encouraged and I think this is a new Cyprus now that is coming out from the crisis andmore than we excepted. In fact it is more than we expected. So we congratulate the people of Cyprus and the government and the President of Cyprus on this positive development", he added.

A GROUP of investors from Kuwait under the Kuwait Projects Company Holding (KIPCO) were in Cyprus on a fact-finding mission to explore potential business ventures on the island.

An announcement issued Friday from CIPA says that the investors showed interest in tourism projects, land development projects and in projects relating to the energy sector.

Source: Famagusta Gazette