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4th Cyprus International Investors Summit: Strong Interest for Investments in Cyprus

4th Cyprus International Investors Summit: Strong Interest for Investments in Cyprus

The 4th Cyprus International Investors Summit was held today at Parklane Spa & Resort in Limassol. More than 150 prominent businesspeople and foreign investors from 20 different countries, as well as speakers from both the political and business world of Cyprus, participated in the Summit. The fact that a large number of high-level participants attended the summit, confirms that there is increased investment interest in our country and as such, significant potential for increased FDI inflows.

The international Summit, which is organised for the 4th year in a row, is organised by Invest Cyprus and aims to promote Cyprus as an attractive investment destination and a business centre for excellence. Specifically, it aims at promoting Cyprus as a base for corporate headquarters and a hub for investment funds and asset management.

The 4th Cyprus International Investors Summit attracted over 150 professionals from international law and accounting firms, consultancies, asset and fund managers, investment banks, family offices, venture capital firms and wealth management firms. Specifically, participants originated from the United States, the United Kingdom, India, China (Hong Kong), Singapore, Malaysia, Vietnam, Russia, Ukraine, Greece, Norway, Finland, Iceland, Egypt, Lebanon, Israel, South Africa, the Gulf states, as well as Central and Eastern European countries.

The Finance Minister Harris Georgiades, also attended the Summit. He stressed that despite the difficulties that the Cypriot economy encountered over the past years, it is now on a stable path to growth. He voiced the government's determination to work hard, so as to maintain an investment-friendly environment that favours investments, entrepreneurship, stability, security and positive prospects.

On his part, the Chairman of Invest Cyprus Michalis P. Michael, expressed his satisfaction that the Summit has – for the fourth consecutive year – brought together interested investors and professionals from various sectors, providing them with the opportunity to discover the investment-friendly environment of Cyprus. Mr Michael referred to Cyprus’ competitive advantages as an attractive investment destination, specifically mentioning the field of investment funds, which has been fast developing in recent years. "Invest Cyprus is - and will remain - at the forefront of the effort to attract quality foreign investments and promote Cyprus as an international business centre of excellence.," stressed Mr Michael.

The Director General of Invest Cyprus, George Campanellas analysed the current economic profile of Cyprus, by presenting the most important areas of growth. He underlined that the Cypriot economy is based on a diverse model, which boosts well-established sectors, while promoting the development of new promising ones. In his presentation, Mr. Campanellas specifically referred to the ICT sector and said that: "Cyprus is an ideal choice for a business base for the ICT and software development sector, since it offers access to the EU and other emerging markets, it has an attractive tax framework, a talented human capital as well as a good quality of life and low operating costs for businesses.

During panel discussions, representatives of audit, law firms and banks as well as government officials, analysed the advantages of Cyprus as a business centre and as a hub for the investment funds sector. It should also be noted that foreign investors themselves participated in the discussions. These included Mark O 'Neil, President of Columbia Shipmanagement, a major foreign shipping company that maintains its headquarters in Cyprus, and Andy Choy, Property President of Melco Resorts & Entertainment, which has undertaken the development of the casino-resort, the country’s largest investment project. They participated in a panel discussion along with the Shipping Deputy Minister, Natasa Pilides and the Deputy Minister of Tourism, Savvas Perdios, presenting their own experiences and reasons for choosing Cyprus as their investment destination.

At the same time, a real estate expo was held in the framework of the Summit, presenting Cyprus’ real estate market opportunities, with the participation of major real estate developers.

 

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