Evgenios Evgeniou: We want investors already here not just to stay but to grow, prosper and become ambassadors for Cyprus globally

"Tonight, we celebrate more than foreign investments. We celebrate the people who believed in Cyprus and continue to contribute to the transformation of our economy. Many of them are here tonight. This evening is a tribute to you. You have helped shape the Cyprus of today and are instrumental in building the Cyprus of tomorrow," Invest Cyprus Chairman Evgenios Evgeniou has said, addressing the 13th Invest Cyprus International Investment Awards in Nicosia.

Evgeniou went on to note that the investors' trust was not taken for granted. "We listen. We act. We work with the government to address pain points," he said, underlining that, "In President Christodoulides, you have a listening government."

Pointing out a number of the actions taken to assist investors, the Chairman of Invest Cyprus also underlined some of the country's economic, business and innovation successes, noting, "There is growing confidence in Cyprus. We experienced this in the U.S. during the President’s visit, and during Prime Minister Modi’s visit here. These are not isolated development, they reflect Cyprus’s emergence as a strategic investment partner."

Evgeniou's speech, in full, can be read below:

Your Excellency, President Christodoulides,
Party leaders and representatives,
Honourable Ministers,
Ambassadors,
Distinguished guests,
Ladies and gentlemen,

On behalf of Invest Cyprus, I warmly welcome you to the 13th Invest Cyprus International Investment Awards.

This event wouldn’t be possible without the cooperation of Gold Magazine and IMH and the support of our sponsors whom I thank.

Tonight, we celebrate more than foreign investments. We celebrate the people who believed in Cyprus and continue to contribute to the transformation of our economy. Many of them are here tonight. This evening is a tribute to you. You have helped shape the Cyprus of today and are instrumental in building the Cyprus of tomorrow.

At Invest Cyprus, our mission is clear: to promote Cyprus as a business and investment hub, to provide facilitation services and importantly, to serve as the single point of contact for investors, offering guidance, solutions, and advocacy.

This aftercare role is especially critical. We want investors already here not just to stay but to grow, prosper and become ambassadors for Cyprus globally.

Dear Investors, your trust is not taken for granted. We listen. We act. We work with the government to address pain points.

In President Christodoulides, you have a listening government. Many of the issues raised in your roundtable discussions with him are being addressed:

• The Blue Card is now in place.
• Schengen accession is a national priority.
• The funds administration law is enacted.
• CySEC is being strengthened to provide more effective regulation.
• Housing availability is improving.
• And while schooling remains a challenge, work is underway to provide incentives that will expand capacity.

The transformation of the Business Facilitation Unit into the Business Support Centre, with wider authority, broader scope of responsibility and enhanced capabilities is a major step forward. Invest Cyprus now plays an active role at both the operational level and the ministerial oversight level of this initiative.

Initiatives like Minds in Cyprus, with strong foreign company participation, are helping bridge the talent gap. The new platform launching shortly will connect international Cypriot talent with employers.

Our strategy aligns fully with the government’s goals: we aim to use FDI to build a more diversified economy by attracting high-value investments and cultivating new sectors.

And the fundamentals are there:

• Cyprus is among Europe’s top 10 innovators and the only country in Southern Europe ranked as a Strong Innovator.
• We host 7 Centres of Excellence, 9 Research Institutes, 12 Universities, and over 3,500 researchers.
• Our startup ecosystem is one of the fastest growing in Europe.

In 2024 alone, FDI in Information Communication and Technology (ICT) grew by over 200%, and in Scientific and Technical Activities by more than 40%.

The ICT sector now supports 62,000 jobs and contributes directly and indirectly 14% of GDP. Our startups are ranked in the global Top 40 globally and climbing.

There is growing confidence in Cyprus. We experienced this in the U.S. during the President’s visit, and during Prime Minister Modi’s visit here. These are not isolated developments, they reflect Cyprus’s emergence as a strategic investment partner.

A gateway into the European Union and a European hub for the wider Middle East.

We are not perfect, perhaps no country is. But we are improving, and the progress is real.

• Our GDP grew 3.4% in 2024, outpacing the EU average.
• Unemployment dropped to 4.8%.
• Public debt fell below 65% of GDP.
• And our sovereign credit rating is now A with FDI recognized as a core strength.

To all of you who have chosen Cyprus, thank you. Your trust creates jobs, sparks innovation, and strengthens our global voice.

To the award recipients, congratulations.

As we celebrate the winners of this year’s awards, we also celebrate a shared vision of a more diversified and innovative Cyprus and a shared commitment to move forward together to unlock the full potential of Cyprus.

As Invest Cyprus we will continue working, every single day, to fulfil this vision and to deliver on this commitment.

I wish you all a wonderful evening.
Thank you.

The 13th Invest Cyprus International Investment Awards are presented by PwC Cyprus, with the generous support of Elite Sponsor Eurobank, Strategic Partner Cyta Business, and Gold Sponsors Ecommbx and Lanitis Group.