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13-10-2020 13:29

The President of the Republic presided over a Council of Ministers meeting

The President of the Republic Mr Nicos Anastasiades presided over a Council of Ministers’ meeting, today, at the Presidential Palace.  

In his remarks to the media, following the Meeting, the Government Spokesman Mr Kyriakos Koushos said that “at today’s special Council Meeting, the Ministers of Finance and Interior submitted a proposal for the abolition of the current Investment Program.

The proposal was based on the long-term weaknesses, as well as the abusive exploitation of the provisions of the Cyprus Investment Program.

The decision will come into force on 1st November 2020.  

The Government, after the completion of the investigation by the committee appointed by the Attorney General and the issuing of its conclusions, will comprehensively examine the policy for the encouragement of foreign investments.”