Invest Cyprus showcases Cyprus as an investment destination in the USA

The reasons why Cyprus is an ideal investment destination, as well as the island's role in South-Eastern Europe as a factor of stability and security, were highlighted by Invest Cyprus at the recent Economist conference in New York, entitled 'Expanding corridors of stability, investment and trade'.

In his speech at the conference, the Vice - Chairman of Invest Cyprus Spyros Vassiliou, highlighted the advantages of Cyprus for investors, stressing that the country is a stabilising factor in the region. Something that - as he characteristically pointed out – that has been confirmed as a striking example by the initiative for the humanitarian corridor to Gaza, Amalthea.

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"The recent initiative of the Republic of Cyprus for the sea corridor to provide humanitarian aid to Gaza is a real proof of the pivotal and strategic role of our country in the region.

As a member of the European Union, Cyprus plays a constructive role in promoting dialogue and cooperation between regional bodies, in addressing common challenges and promoting common interests," Vassiliou pointed out, among other things.

As Vassiliou noted, the position of Cyprus as a stabilising factor in its wider region is an important parametre that is taken into account and plays a key role, strengthening the degree of confidence of foreign investors.

That is, investors can and do see the island as a safe destination that meets all the conditions to invest in it, since in addition to other advantages, our country provides stability and a business environment free of the shocks of geopolitical unrest and conflicts in the surrounding area.

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It is worth noting that, speaking to InBusinessNews, Vassiliou mentioned that in the context of the conference and after the presentation, there was significant interest in investing in Cyprus.

Cyprus in 3rd place as an investment destination

Vassiliou, during his speech, focused on relocation incentives and the friendly business environment that our island has, emphasising that Cyprus ranks 3rd as an investment destination in terms of the recovery of Foreign Direct Investments (FDI) after the pandemic and at the same time it is ranked as the 5th safest country in the world.

"Cyprus is an attractive investment destination for several reasons. First, the ease of doing business. With a business-friendly legal framework based on English law, constant adjustments and reforms, fast processes and efficient processes, doing business in Cyprus is easy and fast,” he said.

The investment climate in Cyprus

In addition, the Vice-Chairman of the Board of Directors of Invest Cyprus outlined the investment climate in Cyprus, stating that, in 2023, inward investments had come from all over the world, and mainly from: USA, Israel, UK, France, Egypt, Canada, Gulf Cooperation Council countries, South Africa, Jordan, India, Germany and Japan.

In particular, Cyprus attracts investments mainly in the field of ICT, financial services and investment funds. Other sectors are health, education and shipping.

"The rapidly growing ICT sector is estimated to have contributed 2.5 billion to the Cypriot economy. In 2022, more than 1,600 international companies were registered in Cyprus - most of them in the technology sector - including 47 multinational companies. These contributed to the creation of almost 40,000 direct and indirect jobs, an increase of 42% from 2021," he said, among others.

In addition, Vassiliou mentioned that Cyprus is one of the fastest growing investment capital jurisdictions, with the sector contributing the most to the economy.

"From 2016 to 2024 assets under management have recorded significant growth, starting at around 2.6 billion and reaching 8.6 billion," he indicated.

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The role of Invest Cyprus

In addition to the above, Vassiliou informed about the role that Invest Cyprus plays, so that potential investors know that they will have an ally throughout the process.

Specifically, as he mentioned, the main responsibilities of Invest Cyprus are:

  1. The promotion of Cyprus to attract investment.
  2. The facilitation of investors at all stages of the process or even for the relocation of their companies in Cyprus.
  3. After care – constant communication with investors to deal with any problems.

“We are proud of our achievements, but we are keeping a low profile and focusing on further improvements. Together with our investors, we are on a continuous journey of evolution, focusing on business.

We can promise that we will never stop trying to get better," he concluded.

(Source: InBusinessNews)

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