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24 | International Investment
“YAGA” Cyprus Turkish Investment Opportunities
Investment Development Agency
The Agency provides an extensive range of
Analysis by the Peace Research Institute of Oslo (PRIO)
services to investors before, during and after
the investment process, with a one-stop-shop
approach conducted in full confidentiality and
New business with Turkey (exports - goods and services) € 510 million
free of charge. YAGA supports investors
Construction Sector € 393 million
through the administrative and bureaucratic
processes involved in obtaining licenses and
Real Estate Sector € 155 million
starting a business. Tourism Establishments € 316 million
The Agency provides relevant information
Education Sector € 162 million
and consultancy on the area’s legal framework,
the investment climate, sector specific informa-
Lawyer Companies € 103 million
tion and incentives to help investors take
New FDI (other then Construction and real estate) € 184 million
advantage of investment opportunities. It acts
as a facilitator in the provision of land and
incentives, and undertakes studies and provides Total € 1.8 billion
recommendations and advice to improve the
investment climate. The motto here is very clearly, “All investments examination there are a host of advantages
YAGA carries out both local and internation- are welcome”. Some of the most enticing oppor- on offer. Government policies are welcoming
al promotional activities with the objective of tunities exist in the areas of marina and yacht and supportive, and the specialist investment
attracting both local and foreign direct invest- building; special interest tourism; health tourism development agency YAGA offers a range of
ment. The Agency reports to the Prime (including the provision of five star ‘care centres’) services. It is a small but fast growing economy,
Minister. and conference tourism. ICT and the field of with low costs of labour and office and residen-
YAGA has what is essentially a private sector higher education are also promising avenues for tial property. And it is also one of the most
approach but with state support, and boasts investment. beautiful islands in the world. Not perhaps the
international membership of WAIPA - (World So why Northern Cyprus? It may initially soundest reason for investment – merely the
Association of Investment Promotion Agencies) appear an unlikely investment hot spot, but on icing on the cake.
January 2009 Investment Internationalwww.i www.investmentinternational.com
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