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Hong Kong crisis could pave the way for investments in Cyprus

August 28, 2019 at 7:12am
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As often-violent protests in Hong Kong continue for weeks, Cypriot entrepreneurs are getting ready to take advantage of the extreme nervousness among foreign investors who could consider the Mediterranean island as an alternative business centre.

That’s why a delegation under the auspices of Invest Cyprus are off to Hong Kong on September 6 to promote Cyprus as a transparent business centre offering opportunities for investment across a wide range of sectors.

Informed sources told Phileleftheros the business community believes that, geographically, there is a big distance between the two countries but Cyprus’ service sector has improved significantly. And that’s why they are optimistic Cyprus could attract a small portion of those investors who do decide to move headquarters.

A Cypriot businessman is behind the initiative to promote the EU-member state, and a source close to him said there is ignorance in Hong Kong over Cyprus and the fact that it is a financial centre providing top quality services.

The same source explained that sectors such as real estate, construction, investment funds, energy, education and health are strong bastions of  the economy of Cyprus, paving the way for the attraction of foreign investment.

In addition, the aim of the business delegation is to convince investors and large companies to relocate their headquarters to Cyprus which is situated at strategic crossroads between the Middle East, North Africa and Europe.

 

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