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Kuwait and China show interest in Cyprus

Kuwait and China have shown interest in investing in Cyprus tourism, real estate, container management and energy sectors according to the Minister of Commerce, Industry and Tourism Antonis Paschalides.

THERE are encouraging signs of interest from Kuwaiti investment funds in investing in Cyprus’ tourism and real estate sectors, Commerce and Tourism Minister Antonis Paschalides said yesterday.

We received information that there are investment funds in Kuwait that are interested, and then our Foreign Ministry also told us there was interest there”, he said.

Paschalides added that in view of this positive news, a trade mission to Kuwait that was programmed for 2011 has been brought forward to October-November this year, “so as not to miss this particular opportunity”.

The Commerce Minister will head up a sizeable delegation of business and government representatives. The plan is to allocate one day for a series of presentations to Kuwaiti officials and businessmen on the investment opportunities to be found in Cyprus, as well as having a number of separate meetings with interested parties.

Paschalides said that specific interest in the island’s tourism and real estate sectors has been indicated.

The Minister declined to give further details, saying “we have two or three things in mind, but we do not want to say any more, as our tactic is to be cautious until we close the deal”.

Paschalides said that there is also interest from China in a number of sectors of the island’s economy.

Various state organisations and companies have come to take a look at us regarding specific sectors such as tourism, real estate, container shipment, but also energy”, he said.

He added that his Ministry and others are making a real effort to determine which particular organisations are involved, so that a formal visit to Cyprus by their representatives can be arranged.

Paschalides said that he had already invited “various very senior officials” to Cyprus regarding the tourism sector, and in a few weeks he will know exactly when they can be welcomed to our country.

Kuwait and China show interest in Cyprus

Readers' comments

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  • Peter says:

    China & Kuwait want to invest in Cyprus?

    Are they aware just how racist the Government are?

    And as for tourism – what is there to see or do on the Island? Even the wildlife gets shot.

  • James JH lockhart says:

    It Appears the Authorities Want to Attract more investments, and at the Same time do nothing to create a honest Fair Property Market Which protects All.

    The lack of Willpower on behalf of the Authorities is Staggering, but Will the New Investors be that Silly to invest ???

  • Paul Ruse says:

    I wonder what the Chinese and Kuwait people will do when they find they have been ripped off by dishonest lawyers and developers?

  • Andreas C Chrysafis says:

    It is very sad indeed to see that governments and politicians are prepared top sell every inch of the island (including their mothers) in the name of profit geared by sheer greed. If things continue at the same rate, Cyprus shall no longer by Cyprus for the Cypriots but shall become the whore of of the Med, used by the Chinese, Arabs, Muslims,Eastern Europeans and others.

    When that happens, it will be a very sad day indeed for we have vision-less governments who have destroyed this little island.

  • Sue says:

    Is Cyprus big enough a country to get countries like China and Kuwait interested,what is the attraction I wonder?

  • Cyprus Geoff says:

    “Kuwait and China show interest in Cyprus”

    Are they mad? or are they not in possession of all the facts?

    I would think that the Chinese would be very cautious about making or agreeing to any deals with the housing market and the crooked developers within it.

    When the housing market, the dishonest developers, the lawyers who lie and the agents who bend the truth can get their act together and do business in a professional and honest manner then they would find more people in more countries would be interested in investing in Cyprus.

    Until then Cyprus has got such a terrible reputation for dishonesty that no one in their right mind would invest even one Euro there.

    “Investing in Cyprus’ tourism and real estate sectors” ???

    Sheer madness!

    Both tourism and real estate are in decline and are a NO NO for investment.

  • Russ Feti says:

    Oh this is good news for the boys with ‘artful ways’ in Cyprus.

    Let’s get the Kuwaiti’s and Chinese to buy loads of property using our recommended ‘Lawyers’ and Banking friends, but let’s not tell them about the Title Deed problems or the IPT scams or the second mortgages we will obtain against their property assets once they’ve paid us in full.

    There should also be plenty of back handers to for us to fill our boots with if we play it right!!!

    It’s good that we can bring forward the trade mission at short notice, but we can’t bring forward the issuing of Title Deeds outstanding for years because they don’t really matter to us now we’ve had our money off the last lot of foreign mugs.

    Let’s get the Rusfeti (sorry..Trade) Mission on the road asap!!!

  • Tojo says:

    Everyone will just have to hope that the respected representatives from China & Kuwait don’t google “property investment in cyprus problems” and read the results on the news & forums of how a lot of people have been fraudulently misled.

    Incidentally I wonder if Mr Paschalides bothers to use google either??

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