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Cyprus official calls Azeri business people to invest in North Cyprus

Business Materials 19 June 2006 19:27 (UTC +04:00)

We are ready to create favorable economic conditions for the business people of Azerbaijan to invest in North Cyprus, Dervish Kamal Deniz, the minister of economy and tourism of Turkish Republic of North Cyprus, made such a statement on June 19 at his meeting with business people of Azerbaijan.

The minister spoke about the availability of the tourism sphere in Cyprus. According to him, today there are good opportunities in this sphere, there is a necessity for construction of hotels. At present, there are only 12-13 thousand sleeping accommodation in hotels of North Cyprus, but it needs to increase this number to 30-40 thousand. Annually around 350 thousand tourists come to Cyprus and we are going to raise this statistic to 1 million, told minister.

Among the favorable conditions, the minister spoke about the absence of customs duties for the investors of tourism sphere. According to Deniz, the investors are free from this tax within 10 years. Besides, he noted that Azeri business people would be provided with a preferential condition for opening their offices in Cyprus. We are ready to expand and raise our commercial-economic relations, emphasized Deniz.

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