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ECONOMY

Parliament Approves Deputy Ministry of Shipping

Parliament Approves Deputy Ministry of Shipping

The Cyprus Shipping Chamber has welcomed the unanimous approval of the relevant Bill for the creation of a “Deputy Ministry of Shipping” by Cyprus Parliament, with the belief that this pioneering administrative structure will assist substantially towards the further development of Cyprus Shipping and by extension, the Economy.  

This unanimous Parliamentary approval of the Bill for the Deputy Ministry of Shipping, conveys a clear message of political support for this productive sector of the Economy, with a contribution of 7% to the GDP. Such a unified State support, is expected also to serve as a convincing leverage for attracting additional quality shipowners and shipping companies in Cyprus, with a positive chain effect on reducing unemployment and strengthening other economic sectors that provide services to the Shipping Industry.  

The Shipping Chamber expresses its sincere appreciation to all political parties for this unanimous Parliamentary approval, the Government and especially the President of the Republic, Nicos Anastasiades, as well as the Minister of Interior (and until recently, Under-Secretary to the President) Constantinos Petrides and his team for the preparation of the relevant Bill, all business associates and of course the Members of the Chamber, for their public support in the long-standing efforts made for this very important administrativel upgrade of Cyprus Shipping to materialise today, writing as such, a new page of “Shipping History” for Cyprus.    

As this new structure of the Cyprus Maritime Administration will be fully implemented with the commencement of the new Government in March 2018, the Shipping Chamber will now focus its attention, utilising the interim months, to work closely with the Ministry of Transport and the Shipping Department, in preparing all the necessary operating prerequisites, so that the "Deputy Ministry of Shipping" to be able to operate fully from the first day of application of this new promising institution.

Expressing lastly the expectation that the corresponding Bills for the Deputy Ministries of Development/Competitiveness and Tourism, which have been designed to operate with an innovative flexibility compared with the broader Public Service, will also be approved soon, it is envisaged that these important sectors, and especially the Shipping Industry, which operates and competes daily on a global basis, will be allowed to implement development strategies that meet the constantly evolving demands of the World Economy and international competition.

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