The 60th Annual General Meeting of the Limassol Chamber of Commerce and Industry was successfully completed on October 31st. The official part of the Meeting began with addresses from the Minister of Energy, Commerce & Industry, Natasa Pilidis, and from Cyprus Chamber Vice President Othon Theodoulou, on behalf of President Christodoulos Angastiniotis, who, in addition to their references to current issues of the Cyprus economy, praised the important role of the Limassol Chamber in supporting entrepreneurship in the city and district of Limassol.

In his yearly report, Limassol Chamber President Andreas Tsouloftas referred to the difficult conditions engendered by the Russian-Ukrainian crisis, among others by fueling strong inflationary pressures which will inevitably have repercussions, for example with increased interest rates, a situation that calls prudence and self-restraint by all.

He cited findings of the Limassol Chamber Business Barometer, which highlight the concerns and problems of the Limassol business community, with labor shortages and rising costs increases featuring particularly prominently. Basing on the finding that less than 20% are satisfied with their cooperation with the state, he emphasized that Limassol as a single entity also has issues with the procrastination that is often observed regarding public plans and projects. He was clear about the procrastination observed in the announcement of the Limassol City Center Plan, for the start of the revision process of the Local Plan, for the actual implementation of the Sustainable Urban Mobility Plan (SUMP), for the development needs of the Technological University, especially the 2nd Pole, for the implementation of the Science & Technology Park in Pentakomo.

Mr. Tsouloftas referred to what is often said, or whispered, to the effect Limassol already has just about everything and to have no other needs, and he was emphatic that although Limassol has a remarkable development course at various levels, this is due almost exclusively to the dynamism of its private sector, while at the level of public expenditure, on a per capita basis, it is only second from the bottom.

He also noted the Chamber’s 60th anniversary and hailed the recognition of this fact from the state, among other things, by the issuance of a special anniversary stamp by the Postal Department. In 2022, he continued, and the Chamber marked a particularly important success in the environmental area, with the securing of the Zero Waste to Landfill certification. Regarding the coming year, he reconfirmed the continuous commitment to the founding goals of the Chamber, to support its members and promote the developmental and other needs of Limassol, at both city and district level.

The proceedings of the AGM ended with the awarding of an honorary distinction to the company Giannakis Christodoulou & Sons Ltd, which this year completed 50 years of uninterrupted presence as a member of the Limassol Chamber.


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