Cyprus is solidifying its position in the global shipping industry through infrastructure upgrades and strategic partnerships. Deputy Minister of Shipping Marina Hadjimanolis’s discussions with key industry players like MSC Group aim to attract more maritime companies to the island, enhancing its reputation as a leading maritime center in the Mediterranean.
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.
Cyprus is experiencing significant economic growth with plans for a €1.3 billion financing program, boosted credit ratings, and potential tenyear bond issuance. Larnaca’s tourism appeal is thriving, while the banking sector remains stable, focusing on innovation in tourism and shipping. Additionally, Cyprus has seen an improvement in its world competitiveness ranking, indicating a rise in foreign investment and economic prosperity.
The International Investment Conference 2024 in Cyprus aimed to strengthen business ties between Cyprus and Great Britain, focusing on promoting the growth of Cyprus’s maritime sector amidst global economic and geopolitical challenges. Industry leaders came together to exchange ideas and strategize on enhancing the competitiveness and appeal of the maritime industry despite current hurdles.
The services sector in 2023 saw robust growth, with accommodation and catering services leading the way with an 18.9% increase, administrative and support services following closely with a 15.5% rise. Professional, scientific, and technical activities also saw significant growth at 2.7%, reflecting global technological trends.
The CyprusEstonia Business Forum aims to strengthen economic ties by promoting collaboration in key sectors like shipping, cybersecurity, and information technology. Scheduled during Estonian President Alar Karis’s official visit to Cyprus on March 27, the event will provide a platform for networking, sharing insights, and establishing partnerships to boost trade and cooperation between the two nations.
Cyprus and Estonia are strengthening economic ties through the ‘CyprusEstonia: Promoting Bilateral Collaborations’ event, focusing on partnerships in shipping, cybersecurity, and information technology. Business leaders from both nations are engaging in private meetings to explore mutual opportunities, leveraging Cyprus’s strategic location and specialized workforce for longterm ventures.
The Cyprus Shipping Chamber (CSC) vehemently denounced the missile attack on the commercial vessel True Confidence by Houthi forces, leading to tragic loss of life and injuries. CSC urges immediate international intervention to protect seafarers and vessels in the Red Sea from further acts of aggression.
The Deputy Ministry of Shipping in Cyprus has launched a onestop shipping centre, streamlining maritime services and enhancing efficiency in the Cypriot maritime sector. The centre provides prioritized access to state resources, revolutionizing the industry and positioning Cyprus as a global maritime player.
