President unveils vision for rebranding in San Francisco roundtable discussion (video)

President Nikos Christodoulides unveiled his government's vision for rebranding and the island's advantages as an EU member state and a country with relations with MidEast neighbors during a roundtable discussion with executives of technology companies in San Francisco.

The President, head of  a broad delegation, visited NYC, Texas and San Francisco for meetings that covered investment opportunities, maritime, energy and tech.

In opening statements during the discussion in San Francisco President Christodoulides noted that the rebranding of Cyprus as an ideal destination for investment started with meetings in New York. He said that in Texas they discussed energy and recalled that Exxon Mobil and Chevron are companies in the island's exclusive economic zone.

He noted that in San Francisco the delegation discussed technology noting that his government is working close with countries like the US, India and countries in the Middle East, Israel, Lebanon, Egypt, Saudi Arabia, UAE and Qatar and also their European Union partners.

According to the President, in 2024 Cyprus' economy had a growth rate of 3.4%, which is one of the highest in the eurozone. He added that the public debt is less than 66% of the GDP and unemployment is less than 5% since 2008 and the country has conditions of of of full employment.

"We are back in the category A from all international rating agencies after thirteen years", he also said.

The President also said that the emerging tech industries are 14% of Cyprus' GDP and is one of the growing sectors.

"I have to say that I'm optimistic for our meetings the last two days. The aim is the creation of education and research skills development centers", he said.

He added that Cyprus has a highly skilled human capital sector and an attractive tax system as well as specialised companies.

In a post on X President Christodoulides wrote that "Cyprus is positioning itself as a global tech hub, and we welcome the opportunity to work closely with companies like yours to unlock new opportunities for growth, innovation and investment."

Government Spokesperson Konstantinos Letymbiotis wrote on X that the meeting "is part of the re-branding campaign launched by the Government and is another step towards building long-term partnerships with the international technology sector and expanding the productive base of the economy, confirming that Cyprus has all the ingredients to become a benchmark for innovative businesses in the region."

(Sources: CNA/PIO)