12° Nicosia,
24 July, 2024

Government courts global investors in ambitious growth push

President outlines strategic changes to attract foreign companies and talent, emphasizing commitment to fostering a conducive business environment.


In a bid to position Cyprus as an enticing destination for foreign investments, the President of the Republic addressed a gathering of over 100 foreign investors and companies at the Presidential Palace. Collaborating with Invest Cyprus, the event aimed to update participants on recent government actions and initiatives to enhance the business and investor environment. The President emphasized the nation's commitment to foreign investors, considering them "valuable partners" in the country's growth plan. Strategic amendments, including a revised strategy to attract foreign companies and talent, were discussed, reflecting Cyprus's determination to become a premier business and investment hub.

President Christodoulides stressed the importance of a stable economy, citing successive upgrades from rating agencies. The government aims to attract productive investments aligned with green and digital transitions. Minister of Finance, Makis Keravnos, outlined changes to the strategy, emphasizing the government's vision for Cyprus to be among the best countries for living, working, and doing business. Amendments include the introduction of the "blue card" and measures to facilitate the ease of doing business.

The government's focus on streamlining licensing processes, improving the business environment, and supporting innovation and entrepreneurship was highlighted. The event also addressed challenges such as housing scarcity, with measures introduced to address affordable housing prices. The President reiterated the government's commitment to transparency and accountability, presenting a detailed governance program for 2024. The discussions encompassed various sectors, from education and labor to infrastructure and transportation, showcasing Cyprus's multifaceted approach to attract and support foreign investors.

[Information sourced from CNA]


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