The Cyprus International Business Association (CIBA) and Invest Cyprus (CIPA) signed a Memorandum of Understanding (MoU), marking “a significant step” towards strengthening Cyprus’ position as a leading international business and investment hub, CIBA said in a press release.
“The MoU reflects a shared commitment to enhancing bilateral cooperation, supporting foreign direct investment (FDI), and fostering sustainable economic growth in Cyprus,” it said.
Through this strategic partnership, it adds, the two organisations will work closely across key areas, including the exchange of investment-related information, facilitation of business missions, organisation of joint events, and provision of coordinated support to both existing and prospective investors.
The MoU establishes a structured framework for collaboration, focusing on promoting Cyprus as a competitive destination for international investment, enhancing the accessibility of information on investment opportunities, regulatory developments, and incentives, supporting business delegations and international outreach initiatives, organising joint events, seminars, and networking platforms in Cyprus and abroad, facilitating investors in navigating the local business and regulatory environment and encouraging knowledge sharing, technical cooperation, and exchange of expertise.
“The partnership reinforces a unified approach between public and private sector stakeholders in promoting Cyprus internationally and supporting investors throughout their journey, from initial interest to long-term establishment and growth,” CIBA said.
CIBA President Vassilios Demetriades, said this collaboration “marks an important milestone in aligning the voice of the international business community with national investment promotion efforts”. “Through this partnership with Invest Cyprus, we aim to actively contribute to shaping a more competitive, transparent and business-friendly environment, while strengthening Cyprus’ position as a trusted hub for international business and investment,” he said, according to the press release.
Marios Tannousis, CEO of Invest Cyprus, said that this MoU further strengthens collective efforts to position Cyprus as a premier investment destination. “By working closely with CIBA, we are enhancing our ability to engage with the international business community, understand investor needs, and deliver a more coordinated and effective value proposition. Strategic partnerships like this are essential in today’s competitive global environment,” he said.
Acting on the MoU, the press release said, the Cyprus International Business Association and Invest Cyprus co-organised an event on 31 March, titled 'FDI & Omnibus: Driving Cyprus’s Competitive Edge in the EU Legal Landscape.'
(Source: CNA)
