Andreas Demetriades, President of the Cyprus Association of Large Investment Projects, announced the promotion of 18 to 20 projects, valued at over €8 billion, expected to create 8 to 9 thousand jobs. This was disclosed after a meeting with President Nikos Christodoulides at the Presidential Palace, attended by Interior Minister Konstantinos Ioannou and Deputy Minister to the President Irene Piki.

Demetriades revealed that the projects encompass a wide range, including marinas, golf courses, technology parks, large tourist complexes, hotels, and medical centers. He echoed the President's sentiments on incentivizing partnerships between foreign and Cypriot companies, committing to efforts that enhance Cyprus' global reputation.

Key points from the nearly two-hour meeting included discussions on elevating Cyprus' international prestige and addressing various concerns of the Association's members. There was a shared agreement on striving to rectify past challenges to make Cyprus more attractive for foreign investments.

Demetriades also mentioned discussions about tax and urban planning reform, as well as specific industry issues, highlighting the meeting's productivity.

Concerning President Christodoulides' suggestions for drawing foreign investors into major projects, Demetriades affirmed the association's full endorsement. The focus is on fostering partnerships that enable Cypriot companies to gain experience and expertise in specific sectors while benefiting local businesses.

On the government's efforts to restore Cyprus' international standing, Demetriades stated that the Association's members are fully committed to supporting these initiatives, emphasizing the importance of a positive national image in attracting substantial investments.

Regarding the Larnaca port and marina projects, he noted the involved company is not a member of the Association and therefore lacked specific details on any challenges. However, the company has shown interest in joining the Association.

Demetriades also touched on issues like unfair tax competition faced by Cypriot companies against foreign-operating firms and anticipated resolutions in upcoming tax reforms. He concluded by addressing urban planning delays and the necessity for approved local plans and policy statement finalization, underscoring these as key factors in attracting investments.