President: Cyprus is recouping its credibility and gaining ground on the global investment map

President Nikos Christodoulides said that Cyprus is gaining ground on the global map of investments and technology, and is recouping its credibility as an attractive and high-quality investment destination, during the 17th IN Business Awards ceremony.

Nikos Christodoulides pointed out that from the very beginning of his administration, a top priority was the expansion of the productive base of the economy, as well as the development of a resilient, sustainable, and competitive growth model.

To this end, and in order to achieve the goals set, the Government is implementing a specific long-term economic strategy, summarised in the triad of responsible fiscal policy, a healthy financial system, and continuous and bold reforms.

A key component of this approach, as the President emphasized, is the creation of a competitive and business-friendly environment.

“And through this line of thinking, which we have been following for the past 26 months, and through a well-defined strategic plan, we are transforming our country. I am pleased that our work—the work of all of us—is delivering tangible results,” he noted.

The President of the Republic highlighted that a key objective of the Government’s overall strategy is the attraction of strategic investments in productive sectors of the economy, with education being one of the sectors receiving substantial investment.

“Our goal is quality education, avoiding the mistakes of the past,” he explained.

He placed particular emphasis on tax reform, underlining the significant benefits for the business sector.

“We moved from words to actions by abolishing the deemed dividend distribution and reducing the defense tax on dividends. This reduces the tax burden for hundreds of Cypriot companies and releases valuable liquidity that can be directed toward new investments,” Nikos Christodoulides stated.

The IN Business Awards were presented by European University Cyprus.

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