"There is no limit to what we can achieve together," President Christodoulides tells international investors

"Cyprus is changing — purposefully, decisively. From economic management to institutional reform, from regulatory credibility to global visibility, we are creating the conditions for sustainable, long-term growth. And none of this would be possible without the trust and support of the international investment community," President Nikos Christodoulides has said, addressing the 13th Invest Cyprus International Investment Awards, presented by PwC Cyprus.

Speaking at the event in Nicosia, the President continued, "You have stood with us in times of opportunity and challenge. You have chosen Cyprus not just as a destination, but as a partner. And for that, we are deeply grateful."

"As we look to the future, I want to reaffirm our commitment to working together. To engaging and listening closely. To removing barriers. To creating value for investors, for society, and for the generations to come," Christodoulides went on to note, "So tonight, as we celebrate your achievements, let us also renew our shared ambition — to shape the next chapter of Cyprus’ economic story."

"Congratulations once again to all the winners. Thank you for believing in Cyprus. Thank you for being part of its transformation. Be sure that there is no limit to what we can achieve together," the President underlined.

President Christodoulides' speech can be read in full below:

The Invest Cyprus International Investment Awards have evolved into an annual tradition and celebration. One that honours those who have invested their trust in Cyprus and contributed meaningfully to our country’s growth.

First and foremost, I wish to congratulate Invest Cyprus for its tireless commitment to promoting Cyprus as a competitive and credible destination for international business and investment.

Tonight, we also pay tribute to the foreign investors who have not only chosen Cyprus as their base, but who continue to reinvest, expand, and create value for our economy and society.

You are not just winners, you are partners. Partners in our shared vision for a stronger, more sustainable, and more confident Cyprus. Partners in Cyprus’s transformation.

This year’s awards take place at a time of growing complexity in the global landscape — economically, geopolitically, and inevitably socially. Cyprus is accustomed to operating in the midst of complexity – that is the fate of being at the heart of the Eastern Mediterranean and the greater Middle East– a region of turmoil, but one of immense opportunity and potential. Cyprus has embraced its geography, determined to convert it into a blessing – as the EU’s lighthouse and bridge to the region, as a pillar of stability, a predictable, stable, reliable partner in our region and beyond. Part of the answer to the region’s problems, and an integral component part of the region’s opportunity equation.

That is precisely the vision that will drive the Cyprus Presidency of the Council of the European Union in January 2026. A Presidency we will assume with ambition, deeply committed to the European project, determined to be at the helm driving forward for a stronger, more strategic, more sovereign EU. A Union of opportunity, that becomes a space for brilliant minds to innovate and thrive.

Cyprus has demonstrated and enhanced its resilience in the midst of turmoil, remaining on a firm and resilient economic footing. Our GDP growth is projected at 3.4% for 2024, with a fiscal surplus exceeding 4% of GDP, unemployment is at a historic low, and public debt has been reduced to 64%. All major international credit rating agencies have restored Cyprus to A category, recognizing not only our sound fiscal discipline but also our commitment to reform and long-term competitiveness.

These results are not an end in themselves. They are the foundation on which we are building a more modern, open, and future-ready economy.

And this transformation is not happening by chance. It is intentional, based on strategic planning, and the result of a deliberate and coordinated effort to modernize institutions, improve our business environment, and strengthen Cyprus’ standing in the world.

To turn ambition into action, we are advancing a series of targeted reforms — starting with the foundations of institutional credibility and oversight. We are proceeding with the creation of a Single Supervisory Authority for fiduciary and corporate service providers, a long-overdue step that closes regulatory gaps and ensures effective oversight across the board.

At the same time, the establishment of the National Sanctions Implementation Unit — now under discussion in Parliament — marks a significant institutional upgrade. It introduces a single, dedicated authority for the implementation of EU and international sanctions, replacing fragmented mechanisms with a structure that is timely, coordinated, and accountable.

Reinforcing the rule of law and compliance standards is not just about the reputation of our country. It is about protecting the integrity of our economy and aligning our business environment with the highest international standards.

Alongside these institutional steps, we are implementing a series of reforms to modernize our tax and legal frameworks. The first comprehensive tax reform in over two decades is being finalized, with implementation scheduled for January 2026. The goal is to simplify compliance, reduce the administrative burden, and promote fairness, while preserving incentives for entrepreneurship and investment in our country.

In parallel, we are reforming our legal infrastructure to support financial innovation and investment. The Funds Administration Law has recently entered into force creating a safer, more structured landscape for fund managers. We are also preparing a new legal framework for Limited Partnerships with separate legal personality, offering more tools for flexible investment structures and capital raising.

And while these reforms create the appropriate framework, we know that investor experience is ultimately shaped by day-to-day interaction with the government.

That is why, in May, we launched the Cyprus Business Support Centre — a fully operational one-stop hub for licensing, approvals, and strategic investment facilitation. Guided by a dedicated project manager, the Centre brings together key departments and accelerates procedures for major projects. It symbolizes our shift from fragmentation to coordination — from bureaucracy to delivery.

We have also introduced a new strategic projects law to streamline procedures for large-scale investments and continue to expand the gov.cy platform. In doing so we simplify access to public services for businesses and citizens alike.

While we work to strengthen our domestic environment, we are equally focused on strengthening Cyprus’ profile internationally.

Over the past year, we have taken bold steps to expand our international partnerships and open new markets for investment. In April, I led a high-level roadshow in the United States, with stops in New York, Houston, and Silicon Valley, where we engaged with investors, technology leaders, and academic institutions. The message was clear: Cyprus, our country, is ready to serve as a reliable entry point into the European market and a regional platform for innovation.

In June, we hosted the Prime Minister of India Mr. Narendra Modi, on a historic official visit to Cyprus. Together, we co-chaired a business roundtable in Limassol, which confirmed the shared interest and growing momentum for economic cooperation between our two countries. New investments are already underway, and our aim is to position Cyprus as India’s bridge to the European Union.

These efforts are part of a broader strategy to reposition Cyprus on the global investment map, not just as a place of stability and safety, but as a country of opportunity and ambition.

At the same time, in Brussels we have long advocated that the EU needs to invest more in the region of the Eastern Mediterranean and the greater Middle East. We are pleased to see a notable important shift., For example, negotiating directives have been approved for Free Trade Agreements with the GCC countries. The first EU-GCC Summit took place last October, and the second is expected during our Presidency. We will focus during the six months at the helm of the Council in producing tangible results in a positive agenda between the EU and the Gulf region – on investment, trade, energy, education. The potential is immense and at a time of uncertainty the EU must rise as a predictable, stable, reliable partner, including trading partner.

At the same time, we are fully aware that attracting capital also requires attracting talent. That is why we launched the “Minds in Cyprus” initiative — a targeted campaign to repatriate highly skilled Cypriot professionals from abroad and reintegrate them into our economy. Their knowledge, their networks, and their experience are invaluable as we seek to build an economy based on innovation, research, and human capital.

Complementing this effort, Cyprus has also activated the EU Blue Card scheme, with the Deputy Ministry of Migration and International Protection accepting applications as of 7 July. This offers a fast-track route for highly qualified third-country nationals to live and work in Cyprus under attractive and secure conditions, further strengthening our talent ecosystem.

The sum of these actions — whether focused on domestic reform or international outreach — serve a single goal: to make Cyprus a more competitive, credible, and confident country.

Cyprus is changing — purposefully, decisively. From economic management to institutional reform, from regulatory credibility to global visibility, we are creating the conditions for sustainable, long-term growth.

And none of this would be possible without the trust and support of the international investment community. You have stood with us in times of opportunity and challenge. You have chosen Cyprus not just as a destination, but as a partner. And for that, we are deeply grateful.

As we look to the future, I want to reaffirm our commitment to working together. To engaging and listening closely. To removing barriers. To creating value for investors, for society, and for the generations to come.

So tonight, as we celebrate your achievements, let us also renew our shared ambition — to shape the next chapter of Cyprus’ economic story.

Congratulations once again to all the winners. Thank you for believing in Cyprus. Thank you for being part of its transformation. Be sure that there is no limit to what we can achieve together.

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.