The 54th Annual General Meeting of the Limassol Chamber of Commerce and Industry took place on October 22, in the presence of the Minister of Energy, Commerce, Industry and Tourism, Yiorgos Lakkotrypis, and the Minister of Transport, Communications and Works, Marios Demetriades, Limassol MPS, mayors, the Limassol District Officer, other government officials and representatives of the Chamber community from all over Cyprus.
Opening the official part of the Meeting, Mr. Lakkotrypis referred to indications that the recovery of the Cyprus economy is progressing, expοrts have picked up, as have tourist arrivals. He noted the interest shown by renowned companies in the privatization of the management of Limassol port, as well as the now imminent invitation for offers for the Pentakomo Scientific and Technological Park. He also referred to the Government’s business support schemes as well as to the establishment of an Export Help Desk. The Minister also hailed the role of the business community in support of the national economy and commended the work and initiatives undertaken by the Limassol Chamber.
Addressing the meeting on behalf of the President of the Cyprus Chamber of Commerce & Industry, Mr. Phidias Pilides, who was on an overseas business trip, Economy Vice President Andreas Matsis made reference to the present state of the Cypriot economy and its future prospects, pointing out that, positive signals notwithstanding, there are still major problems that need to be confronted and which leave absolutely no room for complacency, let alone trade union claims for higher salaries.
In his report before the General Meeting, Limassol Chamber President Costas Galatariotis also made concise reference to the economy, noting that, however welcome positive developments certainly are, there is still a very long way to go before we can say that the crisis is firmly behind us. He was emphatic about the fact that the brunt of the crisis has been borne by private sector employers and employees and described the unemployment rate of 15% as not just high, but unbearably so.
Mr. Galatariotis subsequently referred to the initiatives and actions launched by the Limassol Chamber during the past year, aiming to offer quality service to members and promote the development needs of Limassol. He referred to the Chamber’s initiative on the adoption and implementation of a New Industrial Policy and the preparation of a detailed and well-documented study to that effect, to the promotion of issues on the agenda of certain commercial sectors and the setting up of specialised committees to deal with issues affecting the Limassol costal area and to promote accessibility.
He noted, moreover, the restructuring/upgrading of the Chamber’s website, the launch of its monthly newsletter Entrepreneurial Limassol, as well as the upgrading of its IT systems and the renovation work carried out on the Chamber premises.
Describing innovation as a “key to the future”, he referred to the Limassol Chamber’s initiatives in that direction, including the setting up of innovation support centres at the local Chambers. In addition, he said, the Limassol Chamber has been actively pursuing European programmes with a view to offering better quality service to its members.
Mr. Galatariotis expressed the Chamber’s unequivocal support of the Cyprus University of Technology as an institution, and stressed that the planned expansion of the University should get under way as soon as possible. He hailed developments regarding the Pentakomo Scientific and Technological Park and noted the significant contribution of the Chamber in that direction.
Regarding Limassol port, the LCCI President said the basic objective of the ongoing privatization process is for the port to become substantially more competitive. He also referred to the significance of extending the land area of the port with the acquisition of pasture lands, locally known as Merras Zakakiou. The Chamber, Mr. Galatariotis continued, closely monitors developments regarding the passenger side of the port and has submitted ideas concerning the attraction of additional cruise ships, while at the same time it is highly critical of the repeated delays to the completion of the new passenger terminal.
Regarding the casino-resort he reiterated the steadfast position of the Chamber in support of the location of the project being chosen by the investor. Regarding foreign investment and Cyprus-based foreign entrepreneurship in general, he hailed their contribution to the Cyprus economy and referred to the Board’s decision to set up the Embrace institution, in the context of which the Chamber will honour, on a yearly basis, outstanding foreign entrepreneurs based in Limassol. He also announced the opening of a Russian Desk within the Chamber premises, to cater for the needs of Cyprus-based Russian entrepreneurship.
Mr. Galatariotis also declared the establishment of a museum of old machinery, at the ground floor of the Chamber premises, which will be named after the late Kyriakos Hamboullas, who was President of the Limassol Chamber for 13 consecutive years.
Having referred to the field of international relations, including the Chamber’s participation in conferences and meetings abroad, and the signing of a cooperation memorandum with the Egyptian Chamber of Commerce in Ismailia, the LCCI President stated the Chamber’s view of Limassol vis-a-vis the other Cyprus districts. He made clear that Limassol is not in competition with any other district and noted that what has been achieved by Limassol in terms of projects was not the result of state funding, but of private sector initiatives and the success of the local authorities in securing European Union funding. As for what the Chamber and Limassol expect from the state in the near future, and taking into consideration the difficulties befalling state finances, Mr. Galatariotis spoke of the need for the completion of some basic road projects, the fast completion of work on the former Berengaria village at Polemidia so that the area is open for development, the revamping of the archaeological museum and the creation of an artificial reef for diving purposes by means of sinking an unused oil platform. He noted, moreover, that Limassol has not given up on plans for a Convention Centre.
The official work of the Meeting was followed by a reception.
