Following a defining decade of transformation, Cyprus is attracting a new wave of investors. Stephanos Kassianides, Senior General Manager at Eurobank Limited, explains what is driving that momentum and identifies the economic sectors that are poised for future growth, thanks to the next influx of Foreign Direct Investment (FDI).
Speaking to GOLD magazine soon after Eurobank Limited was an Elite Sponsor of the Cyprus International Investment Awards, Kassianides assesses the evolution of Cyprus as a destination for FDI over the past decade and weighs in on the importance of collaboration between the public and private sectors.
Among other things, he also talks about the 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 undergone a remarkable transformation. From a period marked by financial restructuring, it has evolved into a resilient and attractive investment destination, offering a stable regulatory framework, a highly skilled workforce and strategic geographic positioning at the crossroads of Europe, the Middle East and Asia. What is particularly notable is the diversification of FDI inflows. While traditional sectors such as real estate and tourism remain important, we are now witnessing strong momentum in technology, financial services, energy and professional services. Cyprus has successfully adapted its value proposition to meet the evolving needs of international investors, focusing on quality, compliance and innovation. At Eurobank, we have seen this evolution first-hand, through increased interest from international clients and corporates seeking a reliable EU base. The strengthening of Cyprus’ institutional framework, combined with its agility in attracting global talent and businesses, has made it a compelling destination for long-term investment.
How important is collaboration between the public and private sectors in sustaining Cyprus’ investment momentum?
It is absolutely critical. Sustainable investment growth cannot be achieved in isolation; it requires alignment between policy, regulation and market realities. Cyprus has made progress in this regard, fostering a constructive dialogue between government authorities, regulators and the business community. A stable and predictable regulatory and tax framework remains essential to attracting high-quality FDI. At the same time, the private sector plays a key role in identifying emerging opportunities, driving innovation and maintaining competitiveness. Initiatives that bring these two sides together create the conditions for sustainable growth.
Eurobank actively supports this collaborative ecosystem. Through our engagement with clients, investors and institutions, we contribute to shaping solutions that enhance Cyprus’ competitiveness and ensure that the country continues to attract investment aligned with long-term economic value.
Which sectors do you believe will drive the next wave of FDI in Cyprus over the next five years?
I believe it will be driven by sectors that combine innovation, scale and regional relevance. Technology, ICT and fintech will remain among the most dynamic areas, as Cyprus continues to attract international companies seeking an EU base with strong professional infrastructure, access to talent and a business-friendly environment. Energy will also be central to the country’s investment story, particularly renewable energy, energy storage, regional interconnection projects and the broader transition to a more sustainable energy model.
At the same time, Cyprus’ established strengths in shipping, investment funds, wealth and asset management, and professional services provide a strong platform for attracting higher-value, internationally mobile capital. We also expect increased investor interest in education, healthcare, life sciences and specialised tourism – sectors that benefit from Cyprus’ high quality of life and are closely linked to the country’s ability to attract talent, families and businesses looking for a stable and well-regulated base in the region. Most importantly, Cyprus is increasingly positioned as a bridge between Europe, the Middle East, India and other high-growth markets. This connectivity, combined with a stronger institutional framework and continued investment in digital and physical infrastructure, will define the next phase of FDI. For Eurobank, supporting this evolution is directly aligned with our strategic objective of helping Cyprus become a more outward-looking, innovative and resilient international business hub.
As Elite Sponsor of the Cyprus International Investment Awards, why is it important for Eurobank to support an initiative that celebrates excellence in FDI in Cyprus?
Eurobank views its participation in the Awards as both a responsibility and a strategic commitment. Foreign Direct Investment is a cornerstone of Cyprus’ economic model, and initiatives that recognise excellence in this field reinforce the country’s international positioning as a credible, competitive and forward-looking investment destination. By supporting such initiatives, we actively contribute to strengthening investor confidence and showcasing success stories that inspire further capital inflows. For Eurobank, this commitment goes beyond sponsorship. It aligns with our broader vision of positioning Cyprus as a hub for regional business activity and cross-border investment. Our Group’s landmark investment in the country reflects our long-term confidence in Cyprus’ prospects. Supporting initiatives that celebrate FDI excellence amplifies this message globally and reinforces the virtuous cycle between investment, growth and economic resilience.
This interview first appeared in the July edition of GOLD magazine. Click here to view it.
