Cyprus is actively engaging with industry leaders and showcasing the benefits of its flagging system to become a preferred maritime destination. Deputy Minister of Shipping Marina Hadjimanolis’s strategic voyage to Geneva highlights Cyprus’s efforts to attract more vessel registrations and solidify its position in the global shipping industry.
The ECB rate cut is expected to boost Cyprus’s economy by lowering borrowing costs, encouraging investment, and stimulating economic growth. Additionally, the construction sector shows promising signs of growth, with an increase in building permits and a surge in civil engineering projects, reflecting diversified economic expansion and potential investment opportunities.
The Limassol Boat Show at Limassol Marina is a top maritime event showcasing luxury boats, technology, water sports, and more, including the Eastern Mediterranean premiere of a Lamborghini boat and international exhibitors. With free entry to most areas and a focus on innovation and education, this show is a mustvisit for maritime enthusiasts and industry professionals looking to network and stay updated on the latest trends.
The MDigiI Project by the Cyprus University of Technology, funded with €2.8 million, aims to revolutionize the maritime industry through digital innovation. Starting in January 2024, it will develop cuttingedge technologies to enhance safety, efficiency, and sustainability in shipping, creating a national research infrastructure for Cyprus.
DP World Limassol leads the way in gender equality in the maritime industry, with initiatives to increase women’s representation. The Cyprus Stock Exchange hosts educational seminars on capital raising mechanisms, while Paphos hoteliers face challenges with low reservation numbers. Larnaca emerges as a hotspot for real estate investment, and Eurobank’s financial success in Cyprus sets the stage for future growth.
Cyprus has launched an annual Gender Equality Award in shipping to honor contributions towards gender equality and women’s empowerment in the maritime sector. This initiative highlights the importance of inclusive growth and aims to inspire a diverse and dynamic industry.
Despina Theodosiou, CEO of Tototheo Maritime Ltd, has been honored with the prestigious IMO Gender Equality Award for her remarkable contributions to achieving gender balance in the maledominated maritime industry. Her recognition reflects the collective strides towards inclusivity and equality within the global shipping community, serving as an inspiration for future leaders.
