Anastasiades declares long term strategy for current expedition

Despite the financial difficulties caused by the pandemic restrictions, Cyprus has managed to maintain its position as the third largest maritime fleet in Europe, the 11th in the world and the largest third-party vessel management center in Europe, said President Nicos Anastasiades .

The President was addressing the Cypriot Maritime Chamber Annual General Meeting which took place online.

“Rest assured that we will continue to give priority to consolidating and improving the competitiveness of the Cypriot flag and our maritime cluster, in order to remain resilient in the face of future crises and proactive in the face of new challenges and trends”, a- he declared.

During the pandemic, Anastasiades said, the deputy transport ministry strongly supported the industry by granting extensions regarding the payments of the annual registry maintenance fee and tonnage tax with respect to Cypriot vessels, and facilitated repatriation of maritime personnel.

The industry, he said, has succeeded in maintaining its competitiveness and preserving maritime transport as one of the main pillars of the economy, contributing around 7% of the island’s GDP, “considerably strengthening our efforts for the observed recovery and growth of the country’s economy ”. .

Currently, the Deputy Ministry is developing a long term strategy for Cypriot maritime transport towards a sustainable and more adaptable sector.

“At the same time, the implementation of the structural reforms necessary for the development of key economic sectors, including maritime transport, through various incentives linked to the green and digital economy, is one of the top priorities. most important fixed in economic recovery and government resilience. plan, ”he added.

“I would like to commend the shipping industry for its leadership role in efforts to overcome this unprecedented crisis by keeping supply chains open and maritime commerce on the move, ensuring the timely availability of goods. essentials and medical equipment and supplies needed during the pandemic, ”he added.

Since the establishment of the Deputy Ministry, the President said that a number of important steps have been taken to improve the island’s navigation infrastructure, including the re-approval of the enhanced Cyprus tonnage tax system by the European Commission. for another ten years “ensuring a climate of stability and confidence in the maritime industry”.

There were also a number of green tax incentives to support the industry towards decarbonization by rewarding innovative operations and approaches that reduce the environmental footprint. He also spoke about the digital transformation of the deputy ministry, support for blue growth and modern maritime education and training in Cyprus.

The Cypriot flag was also included in the US Coast Guard’s Qualship 21 list, “which further establishes the registry as one of the safest and highest standards in the world,” the president said.

“Cyprus has a number of comparative advantages which have contributed significantly to making our country one of the world’s most influential centers for vessel ownership and vessel management services,” he said. .

These include a strategic geographical location, a constantly upgraded maritime infrastructure, a highly skilled and professional workforce, a stable business environment, and a fully-fledged tax and legal system. harmonized at international and European level.
Source: Cyprus Mail

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