Monday, 5 November 2018

Limassol Chamber AGM: Entrepreneurship at the forefront of the development effort

Success marked the 2018 Annual General Meeting of the Limassol Chamber of Commerce and Industry (LCCI). Addressing the Meeting, Energy, Commerce, Industry and Tourism Minister George Lakkotrypis, referred to the continuous improvement of the Cyprus economy at all levels and praised the work done by the Limassol Chamber of Commerce and Industry. The Chamber, he noted, is a valuable collaborator of the Ministry in pursuit of the common goal for the development of the national economy.

On his part, and addressing the event, Cyprus Chamber President Christodoulos Aggastiniotis noted the achievements of the Cypriot economy, stressing at the same time that problems remained at different levels and so there is no room for complacency or for actions that are inconsistent with the need to have learned from the mistakes of the past.

In his speech, Limassol Chamber President Costas Galatariotis referred to the actions and initiatives launched by the LCCI towards offering optimum service to Chamber members and promoting the development needs of Limassol at city and district level.

He noted the continuous registration of new members, as well as the new services offered to members, making specific reference to the LCCUI participation in European entrepreneurship support programs, the creation of a business networking service, the Chamber business barometer and "Entrepreneurial Limassol", the monthly electronic newsletter of the Chamber. Mr. Galatariotis also referred to the Limassol web-based guide AllAboutLimassol, which operates under the auspices of the Limassol Chamber and noted its ongoing progress in terms of the number of people making use of this service.

He outlined a Chamber initiative to address the problem of high rents, pointing out that mitigating the problem would help not just those employed in the hotel and other industries, but also and young couples, who are much in need of affordable housing.

Referring to the New Industrial Policy 2018-30 announced recently by the Industry Minister, he said this was at best incomplete, although he welcomed the emphasis put on research and innovation issues, noting the continuous effort of the Chamber for the creation of the Science & Technology Park, and highlighting the importance of cooperation between businesses and the academic community.

He praised the positive aspects of the commercialization of Limassol port but also noted that remained to be done for the port to realize its full potential and reiterated the need of the Cyprus Ports Authority relocating to Limassol. He welcomed the creation of the Deputy Ministry of Shipping, expressing confidence that this would, among others be conducive to the attraction of additional foreign investment.

He noted the substantial contribution of foreign investment to the economy of the country and welcomed the government decision to set up a commercial court, whose existence would also help in the field of investments, as Cyprus has so far lagged much behind when it comes to the delivery of justice in commercial disputes. 

He also referred to the continuous improvement of Chamber premises and its registration as a Green Office, as well as the upgrading of the ‘’Kyriakos Hamboullas’’ Chamber Industrial Museum.  Mr. Galatariotis stressed the essential role of entrepreneurship in the development of the country and, citing the findings of the Chamber Business Barometer, noted that the Limassol business community faces the future with cautious optimism, while expecting better cooperation by the relevant for each case government departments.

Referring to public works in Limassol, the Limassol Chamber President welcomed the completion of some projects and the planning of additional ones, noting at the same time the need to solve chronic problems and promote projects that are overdue, especially regarding the Limassol hospital, but also for the archaeological museum, the sewage treatment plant in western Limassol and the traffic congestion problem.
 
Past the completion of Mr. Galatariotis’ speech, honorary distinctions were awarded as follows:
- To seven companies - P.J. Papadakis Ltd, Cyprus Cement Cp. Ltd, Stamatis D. Mavropoulos & Sons Ltd, Chris Joannou Public Ltd, Zemco Constructions Ltd, The Star-Medicines Importers Co. Ltd, Hull Blyth Araouzos Ltd, which completed in 2018 50 years of uninterrupted membership of the Limassol Chamber.
- To the immediate past Mayor of Limassol Andreas Christou for his multi-year invaluable services to Limassol.

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LIMASSOL CHAMBER OF COMMERCE AND INDUSTRY

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