Nicosia, Cyprus: HE Deputy Minister of Tourism of the Republic of Cyprus, Kostas Koumis, said that the visit of HH the Amir Sheikh Tamim bin Hamad Al Thani to Cyprus receives significant interest, and reflects the development of bilateral relations between the two countries.
In remarks to Qatar News Agency (QNA), HE the Deputy Minister of Tourism said that HH the Amir's visit receives substantial media attention and coverage; which can promote tourism in Cyprus through showcasing Cyprus's attractions, culture and landmarks for tourists. It is also an occasion to demonstrate hospitality to the Qatari people, and develop awareness of Cyprus in the Qatari tourism market.
His Excellency revealed that the Government of the Republic of Cyprus and the Government of the State of Qatar are jointly working on signing a Memorandum of Understanding aiming to cooperate in various fields and activities related to tourism and business events of common interest.
The Deputy Ministry of Tourism of the Republic of Cyprus maintains incentives schemes for tour operators to promote Cyprus in the Qatari market, using various marketing tools. It also offers airlines encouraging incentives, in addition to other incentives for the purpose of attracting conferences in Cyprus, hold sporting events, and hosting training camps for sports teams, His Excellency said.
He also pointed out that Cyprus Deputy Ministry of Tourism focuses on the tourism investment sector in order to promote Cyprus as a destination for tourism investments, as well as highlighting its investment opportunities to potential international investors by participating in hospitality investment forums and other promotional events.
The Cyprus Deputy Ministry of Tourism is working closely with InvestCyprus, the Cyprus Investment Promotion Agency, in an effort to attract foreign direct investment in strategic investment projects, as the investment opportunities offered in the InvestCyprus Project Bank are promoted to international investor funds, including funds from Qatar Investment Authority, he said.
Koumis added that strategic investment projects in the tourism sector include hospitality, marinas, golf resorts, sports, adventure theme parks, and healthcare medical tourism projects.
HE the Deputy Minister of Tourism welcomed discussion opportunities of investment projects with Qatari investors in the tourism sector, especially in the field of hospitality, stressing that Cyprus is a thriving hub in the Eastern Mediterranean with a favorable business environment for all sectors of the economy, including investments in tourism, which serves as an incentive and an attractive ecosystem for foreign investors.
In this context, he reviewed some numbers and reports that enhance the business environment in his country, including that Cyprus has one of the fastest growth rates in the European Union (EU) with an attractive tax system that does not exceed 12.5 percent, with more than 40 trade agreements with the EU, and more than 65 double tax treaties. In addition to reliable business support services, low cost of doing business, and other incentives.
Furthermore, he revealed some of the financial incentive schemes aimed at boosting the tourism sector in Cyprus, which are co-financed by the EU Recovery and Resilience Fund, two of which are designed to upgrade existing hotels, and may be of interest to potential hotel investors.
The financial scheme in this context includes upgrading hotels and tourist accommodation establishments in the countryside, mountainous and remote areas to modernize and improve tourist product competitiveness, in addition to another financial scheme to create and enrich tourism facilities and services for health, wellness, rehabilitation, accessibility and independent assistance in hotels and tourist accommodation establishments with the aim of attracting health and wellness tourism, HE the Deputy Minister of Tourism of Cyprus said.
