The investors, who arrived on a private jet and represent the Kuwait Projects Company (KIPCO), will first meet with CIPA officials and then with president Nicos Anastasiades, finance minister Harris Georgiades and energy minister Giorgos Lakkotrypis.

Charis Papacharalambous, Director General of CIPA, told the press that “the delegation from Kuwait is here on an exploratory mission. They are here to be informed about Cyprus’s economic and banking system. There is no specific project on the table.”

He said that CIPA has arranged a presentation by the Association of Valuers and Property Consultants for the Kuwaiti delegation on property development in Cyprus. The investors also expressed interest in the privatisation of semi-government organisations and in the energy sector.

Papacharalambous said we need to be down to earth regarding this visit and not cause a lot of noise over nothing. “These things take time and at the moment there is nothing more to it,” he said.

Following Anastasiades’ official visit to Kuwait last October as part of a series of trips to Gulf states with the aim of attracting investors, Cyprus and Kuwait signed a series of bilateral agreements including cooperation in fighting terrorism, organised crime, drugs trafficking and illegal migration. Agreements were also signed for cooperation in the areas of tourism, education, and health.

Source: Cyprus Mail