Newsroom
Cyprus is making bold moves on the global investment stage, with recent diplomatic and business outreach campaigns targeting major players in the U.S. and India. The government is positioning the island not just as a Mediterranean getaway but as a rising business and tech hub, especially for markets with little previous investment history in the country.
According to Kathimerini's Dorita Yiannakou, President Nicos Christodoulides and top officials recently wrapped up a high-profile investment roadshow in the United States, visiting New York, San Francisco, and Texas. There, they pitched Cyprus to global technology giants including OpenAI, Amazon, Google, Nvidia, Oracle, Plug and Play, and Tenstorrent. Early signs are promising—several companies have followed up with questions, indicating real interest in a physical presence on the island.
The country is steadily crafting a new narrative: not just a place for tourism and sun, but a serious contender in global investment and innovation.
One standout case is Plug and Play, a Silicon Valley-based innovation platform, which expressed a clear interest in establishing a startup incubator in Cyprus. Representatives are scheduled to visit on May 5 to explore the logistics. Similarly, Amazon executives were in Cyprus last week, reportedly considering a research and development center and collaborations on AI and digital skills, potentially helping the government tackle issues like traffic management and wildfire prevention. Discussions also included the possibility of building data centers, aligning with Cyprus’s new “Cloud First” strategy.
Tenstorrent, a rising star in AI processor development, is another company preparing to land on Cypriot soil. Its team will arrive in early May to begin laying the groundwork for local operations. Oracle, which has had a presence in Cyprus for over three decades, is considering expanding its cloud infrastructure and partnering on R&D and digital literacy programs. Meetings were also held with Microsoft and two unnamed tech firms, who are reportedly looking at Cyprus for software development operations.
Beyond the Atlantic, India is emerging as another key player in Cyprus’s investment agenda. The recent launch of the India, Greece and Cyprus Business Council in Mumbai has already sparked plans by two Indian giants, one in tourism, the other in technology, to open offices in Cyprus. One of them will base operations in Nicosia, aiming to use Cyprus as a springboard into the EU and Middle East markets. Both companies are expected to make official announcements during the council's inauguration event in Cyprus on May 16.
Meanwhile, the government is also turning its attention to Cypriot professionals living abroad, particularly those with IT and tech expertise. A "brain gain" mission to London is set for May 21, where the President will attempt to woo expatriates back home. While there’s optimism among the diaspora, insiders say success hinges on the incentives Cyprus is willing to offer.
In short, Cyprus is thinking big this spring, tapping into major economies, pitching to tech giants, drawing interest from new markets like India, and working to bring skilled talent back home. The country is steadily crafting a new narrative: not just a place for tourism and sun, but a serious contender in global investment and innovation.
