"The country has evolved from a primarily services-driven model to a more diversified and innovation-oriented economy," Lanitis Group Business Development Manager Evagoras C. Lanitis suggests, going on to note, "Equally important has been Cyprus’ ability to attract high-quality investors, who bring not only capital but also expertise, innovation and international networks."
Speaking to GOLD magazine shortly after Lanitis Group was Legacy Partner of the Cyprus International Investment Awards, he also talks about the country’s progress in attracting Foreign Direct Investment (FDI), and the opportunities that lie ahead, as well as the importance of celebrating investment excellence.
Among other things, Lanitis points out, "Collaboration between the public and private sectors has been fundamental in sustaining this momentum. Institutional support, combined with private sector agility and expertise, has enabled Cyprus to respond effectively to global economic trends and investor expectations."
How would you assess the evolution of Cyprus as a destination for FDI over the past decade?
Over the past decade, Cyprus has demonstrated a noteworthy evolution as an FDI destination. The country has evolved from a primarily services-driven model to a more diversified and innovation-oriented economy. Strategic sectors such as technology, education, healthcare and real estate development have emerged as key pillars, supported by improved regulatory frameworks, proper infrastructure and a growing international tech-related and entrepreneurial ecosystem. Equally important has been Cyprus’ ability to attract high-quality investors, who bring not only capital but also expertise, innovation and international networks. This qualitative shift has enhanced the competitiveness of the local economy and created new opportunities for sustainable growth. While challenges remain, particularly in an increasingly competitive global environment, Cyprus has shown resilience and adaptability, reinforcing investor confidence.
How important is collaboration between the public and private sectors in sustaining Cyprus’ investment momentum?
Collaboration between the public and private sectors has been fundamental in sustaining this momentum. Institutional support, combined with private sector agility and expertise, has enabled Cyprus to respond effectively to global economic trends and investor expectations. Initiatives such as the Invest Cyprus International Investment Awards are themselves a testament to this synergy, bringing together government, business leaders and international stakeholders under a shared vision. For Lanitis Group, longstanding relationships built on trust with investors, financial institutions and partners further highlight the importance of such collaboration in driving investment activity and economic progress.
Which sectors do you believe will drive the next wave of FDI in Cyprus over the next five years?
We believe that the next wave of FDI will be driven by sectors that combine sustainability, innovation and long-term value creation. Renewable energy and green transition initiatives will be central, as countries and businesses intensify their focus on climate resilience. Technology and digital innovation – including fintech, AI and startups – will continue to strengthen Cyprus’ position as an emerging regional hub. At the same time, sectors where Cyprus already has a strong foundation, such as tourism, real estate development and maritime services, will evolve towards higher value-added, sustainable models. Investments in healthcare, education and infrastructure will also play a decisive role in enhancing the country’s attractiveness and overall competitiveness. In this evolving landscape, Lanitis Group remains committed to supporting initiatives that promote investment excellence, while continuously adapting its own investment approach to align with emerging opportunities and the long-term needs of the Cypriot economy.
As Legacy Partner of the Cyprus International Investment Awards, why is it important for Lanitis Group to support an initiative that celebrates investment excellence in Cyprus?
Lanitis Group views its role as both a responsibility and a strategic commitment. These Awards go beyond recognition; they highlight the transformative impact of foreign investment on Cyprus’ economic and social progress. By supporting this institution, we actively contribute to strengthening a culture of excellence, showcasing quality international investments and reinforcing Cyprus’ global positioning as a credible and competitive investment destination. For a Group like Lanitis, whose longstanding history is closely related to the economic development of Cyprus, participation in such initiatives reflects our timeless philosophy that sustainable growth is built through trust, collaboration, innovation and openness to international capital. Foreign investment acts as a catalyst for technological advancement, entrepreneurship and value creation – elements that are critical for the long-term resilience of the Cypriot economy.
This interview first appeared in the July edition of GOLD magazine. Click here to view it.
