"The legacy we would like the Forum to leave behind is to strengthen the common perception that Cyprus can become a modern, internationally competitive centre of investment and entrepreneurship. Attracting investment is not an end in itself. It is a means to create quality jobs, transfer know-how and strengthen the economy in the long term," Ronald Attard, Country Managing Partner of EY Cyprus, points out in an interview with InBusinessNews, referring to the EY Cyprus Future Realized Forum 2026.
At the same time, he explains that, "Today the competition for investments is more intense than ever. Investors are not only comparing tax systems or operating costs. They are comparing innovation ecosystems, access to talent, digital infrastructure and speed of decision-making. In these areas, Cyprus has made progress, but there is still significant room for further strengthening."
EY conducts the Attractiveness Survey on an annual basis and the Cyprus Future Realized Forum 2026 is an important opportunity to present this year's findings
What does the EY Cyprus Future Realized Forum 2026 aspire to achieve and what would you like its substantial legacy to be for Cyprus and the effort to attract foreign investment?
The EY Cyprus Future Realized Forum 2026 aims to be a platform to discuss not only where Cyprus is today, but also where we want it to be in the coming years as a modern and competitive investment destination. Our aim is to bring together decision-makers and foster a meaningful dialogue around the country's competitiveness, innovation and sustainable development.
The legacy we would like the Forum to leave behind is to strengthen the common understanding that Cyprus can become a modern, internationally competitive centre of investment and entrepreneurship. Attracting investment is not an end in itself. It is a means to create quality jobs, transfer know-how and strengthen the economy in the long term.
EY conducts the Attractiveness Survey on an annual basis and the Cyprus Future Realized Forum 2026 is an important opportunity to present this year’s findings. We look forward to sharing them with the public and contributing to the public debate on the priorities, reforms and initiatives that can enhance Cyprus’ long-term competitiveness and investment attractiveness.
When all these actors are at the same table, a unique opportunity is created to transform dialogue into action
What is the particular value of the fact that the Forum brings together policymakers, international investors, business leaders and institutional actors? How can this dialogue be translated into concrete initiatives and results?
The best policies and the most successful investment strategies emerge when there is a meaningful interaction between the public and private sectors. Investors know firsthand what the markets are looking for, businesses know what the real obstacles are, and the state has the role of creating the right framework for development.
When all these actors are at the same table, a unique opportunity is created to turn dialogue into action. Investment follows trust. And trust is built through transparency, collaboration, and the continuous exchange of views.
Investors don't just compare tax systems or operating costs. They compare innovation ecosystems, access to talent, digital infrastructure and speed of decision-making
How competitive is Cyprus today in attracting foreign direct investment and what do you consider to be its main advantages over other European investment destinations?
Cyprus has significant and timeless advantages. It combines the status of a member state of the European Union, a strategic geographical location, high-level professional services, an internationally oriented human resource, and a high quality of life.
However, today the competition for investment is more intense than ever. Investors are not just comparing tax systems or operating costs. They are comparing innovation ecosystems, access to talent, digital infrastructure and speed of decision-making. In these areas Cyprus has made progress, but there is still significant room for further strengthening.
Access to specialised human resources is now one of the most important evaluation factors
What are the most important obstacles that deter or concern a foreign investor when considering Cyprus as a potential investment destination?
Investors are looking for speed, predictability and efficiency. Where there are procedural delays, uncertainty or administrative difficulties, the final investment decision may be affected.
At the same time, access to skilled human resources is now one of the most important evaluation factors. In a world transformed by artificial intelligence and new technologies, the availability of skills may be as important as any other incentive to attract investment.
What reforms do you believe should be promoted as a priority so that Cyprus becomes more attractive and competitive for international investment?
If I had to single out three priorities, they would be accelerating the digital transformation of the state, developing human capital, and strengthening innovation.
The next phase of competitiveness will be determined by how quickly countries can harness technologies such as artificial intelligence and create environments that attract and retain skilled talent. Cyprus has the conditions, but it needs consistency and speed in implementation.
The greatest opportunities lie in sectors that connect technology, knowledge and innovation
In which sectors of the Cypriot economy do you currently see the greatest prospects for attracting new foreign investments in the coming years?
The greatest opportunities lie in sectors that connect technology, knowledge and innovation. Digital services, artificial intelligence, data centres, fintech and high value-added services show particularly positive prospects.
At the same time, opportunities remain significant in energy, shipping, new generation tourism and professional services. The big challenge is to diversify the economy so that growth is based on more and more resilient pillars.
Geographical location remains an important advantage, but it is not enough on its own
Cyprus is often touted as a bridge between Europe, the Middle East and other markets. To what extent has it managed to turn this geographical advantage into a real investment advantage?
Geographical location remains an important advantage, but it is not enough on its own. The real challenge is to turn it into added value for businesses.
Cyprus has succeeded in attracting companies that use the country as a base for operations in multiple markets. The next step is to further strengthen its technological and entrepreneurial ecosystem so that it is not only a geographical bridge, but also a hub for innovation and investment.
How do geopolitical developments in the wider region affect the attractiveness of Cyprus? Do they create more risks or even new investment opportunities?
Geopolitical developments undoubtedly create challenges, but at the same time they are reshaping investment maps. Companies are reexamining their value chains, seeking stability and reassessing the locations from which they operate.
Within this environment, countries that offer institutional stability, access to the European market and a flexible business environment can gain a competitive advantage. Cyprus has the opportunity to capitalise on this dynamic.
The most important message for policymakers is that competitiveness is not a given. It must be constantly renewed
What message do the findings of the EY Cyprus Attractiveness Survey send about how the international investment community views Cyprus today and which finding do you consider most important for policymakers?
The value of the EY Cyprus Attractiveness Survey is that it allows us to see Cyprus through the eyes of investors themselves and to better understand what they value, but also where they see room for improvement. The survey is a key reference point for the discussion around the country’s attractiveness as an investment destination.
The most important message for policymakers is that competitiveness is not a given. It must be constantly renewed. The countries that will attract the investments of the future are those that combine stability, talent, technology and speed of adaptation. Cyprus has strong foundations and now is the right time to accelerate its efforts in this direction.
(Source: InBusinessNews)
