In a recent speech to reporters at the Presidential Palace, Deputy Government Spokesperson for the Government of Cyprus, Panagiotis Sentonas, said confidence in the Cyprus economy is growing day-by-day thanks to major institutional reforms by the government. A good example is the recently signed agreement between the Ministry of Transport and the Consortium of Israeli Investors to promote the unified development of the port and harbour of the city of Larnaca.

This billion-euro project for the development of the harbour and surrounding infrastructure includes a comprehensive restructuring of the territory through the development of roads, green spaces, parks, pedestrian and residential units and other social facilities. The project is expected to increase economic activity both in Larnaca and in the country as a whole. His estimated contribution to the GDP of Cyprus is estimated at €126 million per year.