The business centre in the Jacovides Tower is in a stylish modern building in the business district, five minutes from the centre of Nicosia, with many banks, government offices, ministries, clinics and embassies in the area. Nicosia is the largest city in Cyprus and part of the prosperous Greek Cypriot economy. Cyprus has an open, free-market, service-based economy with some light manufacturing. Its capital is a trade centre and manufactures textiles, leather, pottery, plastic, and other products, with copper mines nearby. The city is also the seat of the University of Cyprus and four other universities. Nicosia's economic development focuses on services, tourism, and high-technology. The government is working to make Cyprus a regional hub of advanced telecommunication services. One project involved a submarine fibre-optic cable system through Cyprus connecting to Israel, Syria, Lebanon, Egypt, and Greece.
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