Israel’s interest in business Limassol was reiterated by the new ambassador, Shmuel Revel, during a recent visit to the Limassol Chamber of Commerce & Industry. The Israeli diplomat who assumed his Cyprus duties in December 2017, met with Chamber President Costas Galatariotis and International Relations Vice President Heros Miltiadous was briefed on the areas of interest and the activities of the Chamber as well as an on the economic development of the city and district of Limassol.
The Limassol Chamber President referred to the excellent relations that have been built between the Chambers of Limassol and Tel-Aviv, which culminated in the signing of a cooperation protocol and the exchange of business delegations. He noted that Limassol is effectively spearheading Cyprus; economic development. Mr. Galatariotis said new hotel compounds are nearing completion and will be in addition to the casino-resort, a project that represents an investment of over half a billion euro, the construction of which will get under way later in the year. The casino is due for completion in the year 2021 and it is a project that will have a very beneficial impact on the Cyprus economy.
Reference was also made to the prospects open up for the shipping industry in the wake of the commercialization of the Limassol port and the determination of the new operators to proceed with sizeable new investment in addition to concerted efforts in the direction of attracting cruise ships. Limassol also looks forward to the implementation of the Scientific and Technological Park project, which will provide a strong new impetus to the highly promising fields of research and innovation.
On his part, Mr. Revel said he was pleased to observe the constantly improving relations between his country and Cyprus, adding there was a great potential for bilateral ties, not just in the field of high tech where Israel is one of the world’s pioneers, but also in other areas, including tourism and agriculture. He noted, moreover, that on the occasion of Israel’s 70th anniversary, several events are planned, including in Cyprus, which will concentrate, for the most part, on innovation-related subjects.