“Our ambition is for Cyprus to be one of those countries that help shape that new future. When an international company, like Teroxx, chooses to expand in a country, that decision carries particular weight and confidence in grounded experience,” the Deputy Minister of Research and Innovation, Nicodemos Damianou, said during the inauguration of Teroxx’s new headquarters in Makarios Avenue in Nicosia.
“The majority of its more than one hundred specialist people are based in Cyprus, and the opening of these new global headquarters in Nicosia marks the next stage of that journey,: the deputy minister said, adding that “Today, you are committing to the next stage of your growth from our capital city, a decision we value deeply.”
“In a period of geopolitical uncertainty and intense competition for investment and talent, Cyprus is pursuing a clear strategic direction. We are consolidating our position as a reliable European centre for international business while building a forward-looking economic growth model with technology and innovation at its core,” Damianou said, adding that “Cyprus offers international investors stability with perspective, an economy that has grown around ten per cent over the past three years at a pace approximately four times higher than the European average.”
Financial innovation has had a significant role in this formation, ss digital technologies reshape the global financial system, they are opening new markets and intensifying competition between jurisdictions. “Our ambition is to evolve from an economy relying dominantly on traditional services into a knowledge-based economy driven by research, by innovation, and by technology. We want to build a true European startup nation where innovative solutions are developed, tested, and scaled into international markets,” the Deputy Minister said.
In his concluding statements, Damianou passed on the president’s greetings and congratulations to the people of Teroxx, while the Deputy Minister, on his part, wished the company every success in the next stages of their growth.
