Andreas Yiasemides, who took over as CEO & Chairman of PwC Cyprus on 1 July, outlines Cyprus’ role in facilitating Foreign Direct Investment (FDI) and explains how the country can convert that investment into lasting, sustainable growth.
In an interview with GOLD magazine on the occasion of PwC Cyprus being Platinum Sponsor of the Cyprus International Investment Awards, Yiasemides discusses the island's evolution as an FDI destination.
Among other things, he also weighs in on the importance of collaboration between the public and private sectors when it comes to sustaining Cyprus’ investment momentum.
Yiasemides, in addition, shares which sectors he believes will drive the next wave of FDI in Cyprus over the next five years.
How would you assess the evolution of Cyprus as a destination for FDI over the past decade?
Over the past decade, Cyprus has gone through a major transformation. Its economy has become more diverse, more resilient and more sustainable, with strengths that go beyond its traditional sectors. Today, Cyprus offers investors a strong mix of advantages: a strategic location at the crossroads of three continents, a predictable and stable business environment, a highly skilled and multilingual workforce, and growing opportunities in technology, financial services, energy, shipping and innovation. This steady evolution has reinforced Cyprus’ role as a forward-looking, competitive investment hub, well placed to support investors’ long-term growth plans.
How important is collaboration between the public and private sectors in sustaining Cyprus’ investment momentum?
Such collaboration is vital if Cyprus is to build long-term investment strength. Sustaining momentum means building on the strong cooperation that already exists, with a clear shared direction and practical implementation. Government, regulators and the business community have their own clear role in creating the conditions that help attract, grow and retain high-quality investment. When these stakeholders work together with clarity, accountability and a common purpose, they build trust and confidence in the market. This helps Cyprus stand out as a more attractive, competitive and resilient economy, better placed to adapt, grow and capture new opportunities in an increasingly complex global environment.
Which sectors do you believe will drive the next wave of FDI in Cyprus over the next five years?
The next wave of Foreign Direct Investment is likely to come from sectors that combine innovation, technology and long-term value creation. Technology and digital transformation will remain core engines of growth, supported by strong opportunities in financial services, energy, shipping and areas linked to innovation and advanced capabilities. Investors are actively looking for sustainable, future-focused opportunities that deliver real, lasting value. Cyprus is well-placed to capture this demand and attract investment that strengthens competitiveness, supports innovation and builds solid foundations for long-term growth.
As Platinum Sponsor of the Cyprus International Investment Awards, why is it important for PwC Cyprus to support an initiative that celebrates investment excellence in Cyprus?
At PwC Cyprus, we see Foreign Direct Investment as an important driver of economic growth, innovation and job creation. Our support for the Cyprus International Investment Awards reflects our long-term commitment to promoting Cyprus as a trusted, competitive and forward-looking place to invest. This is the 13th year in a row that PwC Cyprus has supported the Awards, which underlines our strong belief in their important role in recognising and celebrating international investors who strengthen the country’s prosperity and global profile. These Awards honour organisations and individuals whose confidence in Cyprus plays an important role in the country’s development, international standing and economic resilience. They also highlight the value of long-term, sustainable investment and the positive impact it can have on businesses, communities and society. As a leading professional services organisation, we’re proud to support initiatives that celebrate excellence, encourage investment and reinforce Cyprus’ position as an attractive hub for international business and entrepreneurship.
This interview first appeared in the July edition of GOLD magazine. Click here to view it.
