Cyprus – Russian Business & Investment Forum 2012
Multilysis’ staff had the chance to attend the Forum which was held on the 10th of February 2012 at Four Seasons Hotel in Limassol.
The conference was organized successfully by the Cyprus Chamber of Commerce and Industry, the Chamber of Commerce and Industry of the Russian Federation, the Cyprus-Russian Business Association and the Business Council for Cooperation with Cyprus.
Addressing the Russia-Cyprus Business and Investment Forum, in Limassol yesterday, the Russian Ambassador said that in the last 20 years, ‘the gross investment volume between our countries reached one hundred billion dollars and this is a very impressive figure’, adding, ‘Trade and economic volume cooperation for the last year reached about $1.3 billion’.
Mr. Shumskiy said that ‘In trade and economic cooperation, we have reached the pre-crisis level…..We have managed within a short period of time to overcome economic and financial difficulties and we have good potentials’.
Also speaking at the Forum, President Demetris Christofias said that Cyprus was a “safe and reliable partner” for Russian businesses looking to implement their international strategic plans “in a period of political instability and uncertainty” for the region.
He noted that foreign direct investment into Cyprus from Russia has exponentially increased in recent years, showing that Cyprus is an international business hub for Russian business people. Mr. Christofias emphasized how Russia’s economy has traditionally played a significant role on the island, ‘acting as a catalyst of growth for the Cyprus economy’.
He thanked Russian President Dmitry Medvedev for his personal contribution to making the two countries’ sustain the very strong and historical ties, mutually beneficial in political, economic and business relations.
Mr. Christofias highlighted that the Forum provided an “excellent opportunity” to strengthen relations with Russia, making specific reference to potential investment in the energy sector, following from the recent gas finds in Cyprus’ exclusive economic zone (EEZ).
‘Naturally, we are expecting that Russian companies focusing on energy, today, will show interest in examining the investment opportunities now present in this sector in Cyprus,” said Mr. Christofias.
Vice-president of the Russian Chamber of Commerce and Industry, Mr. Georgy Petrov said that 2011 was the year of economic revival for Russia, with GDP growth of 4.5%, adding that 2012 will be ‘even more successful’. Mr. Petrov called for the ratification, by Duma, of the Double Taxation protocol, signed between Christofias and Medvedev during the latter’s visit to Cyprus in 2011.
At the conference, it was stressed by various speakers that one of the main goals of the Cyprus Government is to maintain its advantages and further improve the competitiveness of the economy. In this respect, the ongoing measures include, among others:
· simplification of the regulatory framework and the reduction of the administrative burden for business;
· continuous upgrading of the infrastructure in transport, energy and communications;
· promotion of research and innovation; and
· the further development of human capital.
Furthermore, all of the speakers highlighted the fact that Cyprus’ economy has proven its capability of successfully confronting challenges and that Cyprus offers considerable comparative advantages to foreign investors who are seeking a place to conduct business and that the Cyprus – Russia Business Association can and will play a vital role.
Cyprus Lawyers N. Pirilides & Associates LLC
Cyprus Company Formation Multilysis Services Limited
Cyprus – Russian Business & Investment Forum 2012
Multilysis’ staff had the chance to attend the Forum which was held on the 10th of February 2012 at Four Seasons Hotel in Limassol.
The conference was organized successfully by the Cyprus Chamber of Commerce and Industry, the Chamber of Commerce and Industry of the Russian Federation, the Cyprus-Russian Business Association and the Business Council for Cooperation with Cyprus.
Addressing the Russia-Cyprus Business and Investment Forum, in Limassol yesterday, the Russian Ambassador said that in the last 20 years, ‘the gross investment volume between our countries reached one hundred billion dollars and this is a very impressive figure’, adding, ‘Trade and economic volume cooperation for the last year reached about $1.3 billion’.
Mr. Shumskiy said that ‘In trade and economic cooperation, we have reached the pre-crisis level…..We have managed within a short period of time to overcome economic and financial difficulties and we have good potentials’.
Also speaking at the Forum, President Demetris Christofias said that Cyprus was a “safe and reliable partner” for Russian businesses looking to implement their international strategic plans “in a period of political instability and uncertainty” for the region.
He noted that foreign direct investment into Cyprus from Russia has exponentially increased in recent years, showing that Cyprus is an international business hub for Russian business people. Mr. Christofias emphasized how Russia’s economy has traditionally played a significant role on the island, ‘acting as a catalyst of growth for the Cyprus economy’.
He thanked Russian President Dmitry Medvedev for his personal contribution to making the two countries’ sustain the very strong and historical ties, mutually beneficial in political, economic and business relations.
Mr. Christofias highlighted that the Forum provided an “excellent opportunity” to strengthen relations with Russia, making specific reference to potential investment in the energy sector, following from the recent gas finds in Cyprus’ exclusive economic zone (EEZ).
‘Naturally, we are expecting that Russian companies focusing on energy, today, will show interest in examining the investment opportunities now present in this sector in Cyprus,” said Mr. Christofias.
Vice-president of the Russian Chamber of Commerce and Industry, Mr. Georgy Petrov said that 2011 was the year of economic revival for Russia, with GDP growth of 4.5%, adding that 2012 will be ‘even more successful’. Mr. Petrov called for the ratification, by Duma, of the Double Taxation protocol, signed between Christofias and Medvedev during the latter’s visit to Cyprus in 2011.
At the conference, it was stressed by various speakers that one of the main goals of the Cyprus Government is to maintain its advantages and further improve the competitiveness of the economy. In this respect, the ongoing measures include, among others:
· simplification of the regulatory framework and the reduction of the administrative burden for business;
· continuous upgrading of the infrastructure in transport, energy and communications;
· promotion of research and innovation; and
· the further development of human capital.
Furthermore, all of the speakers highlighted the fact that Cyprus’ economy has proven its capability of successfully confronting challenges and that Cyprus offers considerable comparative advantages to foreign investors who are seeking a place to conduct business and that the Cyprus – Russia Business Association can and will play a vital role.
Cyprus Lawyers N. Pirilides & Associates LLC
Cyprus Company Formation Multilysis Services Limited