TODAY.AZ / Business

Northern Cyprus offers Azerbaijan construction of hotels

30 July 2005 [08:35] - TODAY.AZ
Dervish Deniz, the Northern Cyprus Minister for Economy and Tourism, offered the Azerbaijani companies the construction of hotels as more attractive spheres of economy.
The Minister told about it the journalists after the meeting with the Azerbaijan entrepreneurs, special correspondent of Trend reports from Lefkoshe, the Turkish Republic of Northern Cyprus.
Deniz said the Northern Cyprus government offers different tax privileges to investors.

According to the Minister, the economy of the Northern Cyprus, including tourism develops intensively. Every year over 100,000 tourists from the UK visit the country. Besides, the number of tourists from Germany, Italy and Scandinavian countries rises.

«Now we have 11,000 hotel apartments, while of them 7,000 are in good condition. However, it still falls short of necessary requirements, as the number of in-going tourists . to the country grow the hotel apartments will be also increased to 45,000,» he underlined.
He regarded the construction sector, the construction of universities as the priority spheres for investing in the economy of the Northern Cyprus, for the country has a need in the qualified personnel.

Daniz said that the Northern Cyprus was ready to sign an agreement with Azerbaijan to avoid double taxation, as it is profitable for investors and is applied in regard to British companies.


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