Evgenios Evgeniou: Cyprus’ vision to become a tech hub is becoming a reality

The vision of turning Cyprus into a destination for technology companies is becoming a reality, particularly against the backdrop of the national strategy “Vision 2033” that aims to build a digital economy, the Chairperson of Invest Cyprus – the country’s investment promotion agency – Evgenios Evgeniou has said.

He was addressing the “Cyprus: The New Global Tech & Innovation Hub Summit”, which is being held in Limassol.

Having talked about the various initiatives the government has undertaken to enable international tech companies, including the digital nomad visa and the Business Activation Unit, Evgeniou stressed that “companies do not come to Cyprus just because of the tax incentives”, but rather due to the availability of talent, bolstered by the numerous universities in the country, the lifestyle that combines sun and pleasure, providing families a safe environment to raise their children.

At the same time, despite the current inflationary pressures, as well as the property crunch in the country due to the influx of white-collar professionals in the last few years, Cyprus remains a cost-effective destination compared to other countries.

What is more, said Evgeniou, reflecting the work that Invest Cyprus has done so far, Cyprus ranks 3rd in the world for post-COVID recovery in terms of attracting foreign direct investments.

Finally, he said he hoped that the delegates at the event share the vision to transform Cyprus into a tech island and become a part of that reality.

The sun-kissed shores of Limassol played host to the gathering of international delegates, who converged at the Parklane Hotel. Sipping on iced coffees and exchanging business cards, the spirits were lifted by the warm Mediterranean breeze - amidst the clinking of glasses and the hum of conversation, a palpable energy filled the air. At this summit, presenters from the public and private world unravelled the reasons behind Cyprus’ emergence as a tech hub, whereas, for those in attendance, it was an opportunity to be part of shaping the future of an industry.