Tannousis: Invaluable insights to be shared at Invest Cyprus’ AGM

Talking to CBN ahead of the organisation’s AGM on 20 November, Invest Cyprus CEO Marios Tannousis suggested that local business owners, international investors, policymakers, and more would greatly benefit from attending the event.

Due to take place at the Filoxenia Conference Center in Nicosia from 6pm on Monday, 20 November, the AGM will, among other things, provide audiences with access to invaluable insights and the latest economic developments and prospects through key presentations by experts speakers including Minister of Finance Makis Keravnos, the Deputy Minister to the President Irene Piki, and the Chairman of Invest Cyprus Evgenios Evgeniou.

Read on to learn more about what Marios Tannousis had to say about the upcoming AGM:

Invest Cyprus’ AGM is coming up on 20 November and is open to both members and non-members. Which specific groups and individuals do you believe will most benefit from attending the event?

The Invest Cyprus AGM on the 20th of November is a must-attend for a diverse range of participants, including local business owners, international investors, policymakers, and anyone keen on understanding the investment landscape of Cyprus. Those particularly poised to benefit include entrepreneurs seeking investment, financial professionals looking for growth opportunities, and international corporate representatives exploring expansion into the Cypriot market. This event will provide invaluable insights and the latest economic developments and prospects of Cyprus from key presentations by the Minister of Finance Makis Keravnos, the Deputy Minister to the President Irene Piki, and the Chairman of Invest Cyprus Evgenios Evgeniou. It will also feature a presentation on the preparation of investable projects and investor decision-making criteria. This is something we decided to do with the aim to assist local businesses showcase in the best possible way their projects.

We understand the AGM will include a presentation of the sectors considered most attractive to new investors from overseas. Can you tell us more about this?

Our presentation at the AGM will draw from Invest Cyprus' extensive experience in attracting foreign investment. We will illuminate the most attractive sectors to overseas investors, which are the pillars of the Cypriot economy, including ICT, real estate, tourism, energy, and education. We will also shed light on the targeted geographic areas that have historically been sources of investment and where we see potential for growth. This segment of the AGM will offer strategic insights for local businesses seeking international capital or expertise and will map out the evolving investment landscape.

What else can those attending the AGM look forward to learning about on 20 November?

Attendees at the AGM can anticipate engaging directly with Invest Cyprus’ staff who are eager to assist them with their business endeavors and projects. We will showcase how Invest Cyprus supports fully licensed projects in reaching a global investor audience, offering guidance and facilitating connections. Our track record of fostering greenfield investments speaks to our role as a vital nexus between Cypriot enterprises and international investors.

More generally, what do you consider to have been some of Invest Cyprus’ most important achievements during 2022, the period the AGM will focus on?

In 2022, Invest Cyprus played a pivotal role in the economic growth of the country by facilitating the establishment of several international companies in Cyprus. Notable names include MUFG and Murex and many more, contributing to the ICT sector's impact on the economy which exceeded €3 billion. Our efforts have not only brought investment but have also been a catalyst for job creation, adding thousands of high-expertise positions to the Cypriot workforce and significantly strengthening our economic fabric.

Is there anything else you would like to add?

It is essential to highlight that the AGM will be a platform to present Invest Cyprus’ strategy for 2024 – 2026, crafted in sync with the Cyprus Long Term Strategy for Sustainable Growth and Vision 2035. Our strategy is devised to build on Cyprus’ achievements while ensuring alignment with the national objectives of sustainable and inclusive growth. Recognizing the importance of international investment for a small economy like ours, we focus on attracting investment that expands our productive capacity, drives job creation, and stimulates income growth for a prosperous future.