The Limassol Chamber of Commerce and Industry (LCCI) has hailed the Cyprus government decision to set up the upcoming Shipping Undersecretariat in Limassol.
The decision, which corresponds with a position long advocated by the Chamber and repeated as recently as October 23 during the LCCI Annual General Meeting, is fully in line with the needs of the highly important for our economy shipping sector, as it i well know that the vast majority of companies that are active i9n this sector are based in Limassol. Besides, Limassol, which is already one the leading shipmanagement centres worldwide, also hosts the Department of Merchant Shipping, which will naturally form the foundation for the establishment of the new Undersecretariat.
The Limassol Chamber is confident that the launching of the Shipping Undersecretariat, which can now be seen as imminent, will turn out to be very helpful for one of our economy’s most promising sectors, to the benefit of our country as a whole..
The Minister of Transport, Communications and Works, Marios Demetriades, mentioned that 95% of companies operating in the ship management sector are in Limassol, which is developing in one of the most important shipping centers in the world. According to Mr. Demetriades, "Limassol is the largest ship management center in Europe and among the five largest in the world".