Cyprus showcased as an investment destination at London conference

The investment opportunities in Cyprus and the benefits of the close commercial and economic ties with the UK were showcased on Monday in London, at the eight annual business conference organised by the GB-CY Business Association.

Representing the Cypriot government, the Permanent Secretary of the Ministry of Labour and Social Insurance Costas Hadjipanayiotou said in a speech on behalf of the Minister Yiannis Panayiotou, that “over the last few years Cyprus has embarked on a transformative journey” with a “clear aim”, namely to create a grieving and resilient economy, characterized by ease in doing business, in a sustainable environment.

As pillars of this journey, he referred to a stable macroeconomic environment with responsible fiscal policy, the enhancement of the conditions of stability in the financial sector and the continuous implementation of reforms roars the Green transition and strengthens competitiveness, inter alia.

The Deputy Director General of Invest Cyprus Lia Riris put numbers on this “journey”, pointing to a growth rate of around 3% for Cyprus’s GDP during the current and next year.

She also noted that this year’s Global Innovation Index ranks Cyprus 37th out of 133 countries.

In his remarks Dr Kyriacos Kouros, the High Commissioner of the Republic of Cyprus to the UK, said that amidst the world and regional turmoil of the last few years, “Cyprus, although a small county, has been shown to be a purveyor of stability of strategic importance for Europe,” and that is has demonstrated the significant role it can play in the region.

The Cypriot diplomat also hailed the long-standing commercial ties between his country and the UK, as expressed in the multifaceted bilateral cooperation.

In his introductory remarks, the organizer of the conference and founder of the GB-CY Business Association Savvas Kyriakides noted the Cypriot government’s dedication to further strengthening the bilateral investment relations.

(Source: CNA)