"Success in FDI is not just about how many deals come in – it’s about what they leave behind," Niki Ioannou, Director of Cyta Business, suggests, elaborating, "Real success is when knowledge and skills are transferred into the local workforce, forming strong ecosystems around strategic sectors like technology, digital infrastructure and green innovation, where global and local players co-create value."
In a recent interview with GOLD magazine, on the occasion of Cyta Business being a Strategic Partner of the Invest Cyprus International Investment Awards, Ioannou discusses the importance of aligning investments with the country’s long-term vision to become a digitally advanced, sustainable, knowledge-based economy.
Among other things, she also shares her expert opinion on which sectors could be better leveraged to attract more Foreign Direct Investment and what Cyprus should do to encourage the next wave of investors.
From your point of view, which sectors remain underleveraged in terms of attracting meaningful foreign investment?
Sectors with high potential that remain underleveraged include green energy and sustainable infrastructure, healthtech and biotech, where Cyprus could become a centre for clinical trials and innovation. Other sectors include creative industries, encompassing digital content and media production, as well as smart logistics, supported by IoT and automation. These areas align with Cyprus’ strategic goals and could experience rapid growth with the right support and promotion.
In practical terms, what changes – regulatory, structural, or narrative – could make Cyprus more compelling to the next wave of investors?
To attract the next wave of high-value investment, Cyprus should focus on simplifying processes through a fully digital, one-stop licensing and permit system, enhancing access to talent through targeted tech visas and partnerships in STEM education, investing in energy and digital resilience to meet ESG and performance expectations, and shifting the narrative from tax efficiency to innovation, connectivity and sustainable growth. At Cyta, we’re contributing through strategic investments in 5G, fibre, international connectivity and green data centres, because modern infrastructure is the foundation for everything else.
What does success look like to you when it comes to FDI in Cyprus? Is it about deal volume, knowledge transfer, ecosystem-building or something else?
Success in FDI is not just about how many deals come in – it’s about what they leave behind. Real success is when knowledge and skills are transferred into the local workforce, forming strong ecosystems around strategic sectors like technology, digital infrastructure and green innovation, where global and local players co-create value. Success also means opportunities that last, including good jobs, new companies and services that remain even if the original investor moves on; opportunities that raise living standards and help retain talent in Cyprus. And importantly, investments should support Cyprus’ long-term vision to become digitally advanced, sustainable and well-connected to international markets. It’s about building something that grows beyond the initial investment, something that strengthens Cyprus for the future.
As Strategic Partner of the Invest Cyprus International Investment Awards, what does Cyta Business gain from this key contribution?
At Cyta Business, we see connectivity as the foundation of every modern industry. That’s why we view the Invest Cyprus International Investment Awards not just as a celebration but as a platform for real collaboration. It’s a chance to connect the investors who are shaping the future of Cyprus. Through our sponsorship, we want to encourage conversations around innovation, digital transformation and cross-sector collaboration. We also want to showcase Cyprus as the regional digital hub that it aspires to be. For any investment today, digital infrastructure is a key factor. Cyprus offers everything needed to support and accelerate business growth, including nationwide high-speed fibre rollout, 100% 5G and NB-IoT network coverage, and new international cable systems. With projects like BlueMed, Cyta can now serve multinational teams with the same speed, latency and reliability expected in major European markets. Finally, we hope that this platform will enable meaningful partnerships, creating space for real dialogue among international investors and local players. That’s how pilot projects, knowledge-sharing and co-investment opportunities begin, driving sustainable growth for the country. We see the Awards as a unique opportunity to highlight not just past achievements but future possibilities.
This year’s award-winners span a broad range of sectors – technology, gaming, telecoms, real estate, banking and retail. What does this growing diversity signal about Cyprus’ economic trajectory?
This diversity shows that Cyprus is evolving into a modern, knowledge-driven economy. We’re no longer relying on a few, traditional sectors only. Instead, we’re attracting investment across industries that are digitally enabled and innovation-focused. It reflects growing confidence in the island’s infrastructure, regulatory stability and talent pool, signalling that Cyprus is ready to compete not just regionally but also globally.
This interview first appeared in the July edition of GOLD magazine. Click here to view it.
