Papanastasiou: How the idea of ​​organising Investopia in Cyprus was born

The important geostrategic role that Cyprus plays in the Mediterranean region, connecting three continents, and which makes it - among other things - an ideal investment destination, was highlighted by the organisation of the Investopia Global Mediterranean Forum, which took place in Limassol last week.

This was essentially the Mediterranean version of the internationally recognised investment conference Investopia, an idea that was born about a year ago in Milan during a dialogue -over a drink- that Minister of Energy, Commerce & Industry George Papanastasiou had with the Minister of Economy of the United Arab Emirates (UAE), Abdulla bin Touq Al Marri.

The aim of the conference, which was achieved, was to bring together entrepreneurs, companies, and international groups to discuss collaborations, synergies, and joint ventures in investments that add value to the economies of both Cyprus and the UAE.

It is noted that, within the framework of the conference, the Minister of Energy participated with the UAE Minister of Economy in the panel discussion ‘Bridging Prosperity: Unlocking GCC–Eastern Mediterranean Synergies,’ which focused on strategic partnerships in the fields of energy, trade, infrastructure, and innovation.

Speaking to InBusinessNews, Papanastasiou stated that "Investopia is an initiative of the United Arab Emirates (UAE), which promotes entrepreneurship in the UAE, with an extroversion, but also an introversion."

That is, he explained, "it invites businessmen to enter the UAE, but also UAE businessmen to go out for investments."

According to Papanastasiou, "Investopia is used as an umbrella under which B2B (business-to-business) arrangements are included."

"It creates a regulatory framework in which businesses can work, under this umbrella, and if there are weaknesses, then they can come back to the two ministers dealing with the issue to correct things, so that entrepreneurs can operate under this umbrella and produce. In other words, the business world can be active and operate under this umbrella," he pointed out.

"The choice of Cyprus says a lot"

Asked how important the fact that the organisation of the first Investopia Global Mediterranean Forum was in Cyprus, the Minister of Energy stressed that "the fact that the UAE chose to organise the conference in Limassol says a lot."

"First, that the Republic of Cyprus is a strategic partner, secondly that the Republic of Cyprus has a strategic role to play in the corridors of Europe, the Middle East and North Africa and thirdly, that essentially the Mediterranean is important," he said, underlining that "these three advantages are what Investopia Mediterranean highlighted."

"Investopia Mediterranean was an invention that we produced in a dialogue that I had with the UAE Minister of Economy, Abdulla bin Touq Al Marri, in Milan a year ago. And the reason why it was decided to have a special Investopia for the Mediterranean is because the Mediterranean is considered a pillar of supply and green energy to Europe, but, at the same time, it is also a space, a sea, which connects continents," he added.

Also, he continued, "the Mediterranean connects continents in various ways. Through trade, through navigation, through energy, through communication with cables, electricity-electricity transmission, etc."

"So it was essentially appropriate that Investopia Mediterranean was created and also appropriate that the first was in Limassol for the reason that they see Cyprus as essentially having a good economic course, which would be a good starting point for the Mediterranean," Papanastasiou further indicated.

Responding, moreover, to a relevant question from InBusinessNews, the Minister of Energy stressed that "Cyprus was also chosen, in addition to personal relations with the UAE Minister of Economy himself, for the fact that due to its strategic geographical location, it presents good investment prospects and is a gateway to Europe, connecting three continents."

(Source: InBusinessNews)