“Foreign capital welcome” The Cyprus govemment would welcome for- elgn participation In the establishment of joint business ventures, Mr Afxentiou, the Finance Minister, sald. The Minister saig 102 mliton in the veers 1878-61) required capital “beyond the financing ca- pacity of the individual entrepreneur’. He said: “Attainment of this goal presupposes, in certain cases, that the Government should make available supplementary funds for the establish- ment of new, large pro- ductive units, jointly with the private sector, The small size of the domestic market and the need for rapid exploitation of the natural wealth of the country call for state in- tervention and participa- tion in a number of cases. This dogs not aim at sub- stituting or undermining the private sector but, on the contrary, at bolstering its role. Foreign capital “This philosophy un- derscores the need for harmonious co-existence between the entire spec- tre of the private sector ang the Govarnreent. re form of joimt ventures to | gether with government or private capital in predetermined fields con- sidered beneficial for the | country’s aconomy. It is also necessary to actively promote the astablish- mant of public companies to provide every possible opportunity to the public and the working people to Participate in the share capital and the running of business establishments. “| should like, once again, to stress the ut- most importance | attach to the further bolstering of tripartite co-operation between the Government, the trade union and em- ployer and other organi- sations, both for the formulation of the basic targets of the economic and social policy and ifs implementation. Efforts to formulate a commonly acceptable prices and in- comes policy fall within this framework.”