Russian Ambassador

Vyacheslav Shumskiy

flanked by

Yiannos Georgiades

(r) and his associate

Alexander Bogachev



Local businessmen were briefed about investment programmes in the Russian regions at a three-day-conference this week.

The meeting at the St Raphael Resort was or­ganised to enable dia­logue and discussion be­tween Russian repre­sentatives and Cypriot commercial and busi­ness directors.

Russian Ambassador Vyacheslav Shumskiy gave the opening ad­dress in which he spoke of recent agreements that will provide a "sta­ble and predictable op­portunity for strategic planning of investments for Russian businesses in Cyprus."

He said Russia was among the top foreign investors in Cyprus with more than Ђ2b invested in 2009 adding that the same is true of Cyprus where by the end of Q2, Russia received "$53.8b , constituting 20.5% of all investments coming from abroad" through Cypriot investments and trade.

He added: "In Moscow today there are more than 1,500 registered companies with Cypriot shares and as more Rus­sian banks and offices continue to open up in Cyprus, bilateral trade will continue to improve and increase".

He told the confer­ence: "There are huge possibilities with the Russian region, regional chambers of commerce and industry, various projects and ideas, with Russian technology and know-how in energy, public health telecom­munications, transport. I am confident that a lot can be achieved in mak­ing our bilateral trade more diversified".

George Moisi, CTO Board Member said the Russian tourist market was the best perform­ing market in Cyprus. Russian demand for quality services and in­frastructure meant our services were continu­ally improving.

Russian Federation government representa­tives gave individual ac­counts of how their par­ticular states were im­plementing policies and internal changesto fa­cilitate a more investor friendly environment. Unified accreditation systems, abolishing red tape and bureaucracy, adopting new legislation and introducing tax in­centives were all strate­gies that were being im­plemented to encourage greater external invest­ment. Meanwhile, regions were introducing new legislation to simplify employment law, cre­ate a more highly skilled and qualified workforce; alongside this, improvement pro­grammes were being made to upgrade infra­structure and to pro­mote the regions ex­ternally as a viable and attractive investment opportunity.

The conference was organised by AB Busi­ness Consulting and Georgiades & Mylonas Advocates.


По материалам газеты - THE CYPRUS WEEKLY

5 ноября 2010



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