Foreign investors want to be more involved in government policies

The government sat down with some of Cyprus’ key foreign investors to discuss the island’s investment environment and appeal as an ideal destination for companies wishing to set up their headquarters, at a roundtable discussion that was organised by the government and Invest Cyprus, and coordinated by IMH.

CBN had the chance to speak to a few of the investors and CEOs as they arrived at the meeting. Overall, they expressed a variety of objectives and outcomes they aimed to achieve, including gaining deeper insights into the government's objectives and policies, as clarity in this area is crucial for making informed investment decisions.

The “Foreign Investors Roundtable with the President and Government of Cyprus” took place at the Presidential Palace in Nicosia.

The event was joined by over 20 investors and foreign companies that have made direct investments in the country or moved their headquarters to Cyprus, covering a broad range of economic sectors, including ICT, financial services, real estate, services, education, shipping and retail/wholesale trade.

On behalf of the government, the meeting was joined by the President, the ministers of Finance, Foreign Affairs, Interior, Energy, Commerce and Industry, Labour and Social Insurance, the deputy ministers of Shipping, Research and Innovation, the government spokesman and the undersecretary to the President.

President Nikos Christodoulides and a number of the government’s ministers and other officials exchanged views with the investors and CEOs on how to further boost Cyprus’ position as an international business hub and ideal destination for someone to work and live.

(Arthur Mamedov, TheSoul Publishing)

President Christodoulides analysed the government’s actions to this end, and assured attendees that attracting quality foreign investments was a top priority; as was further enhancing the infrastructure the country has to facilitate such investments.

According to an announcement by the Presidency, the investors updated the government on the obstacles and challenges they are facing, and made specific suggestions on how to improve Cyprus’ investment and business environment.

During the discussion, President Christodoulides said the government attaches great significance to the foreign investors active in the country, who he said it relies on as partners in the effort to boost Cyprus’ role as an international business centre.

In fact, Christodoulides said he would be arranging another such meeting in the coming months, so the government can update them on the actions it has taken since Thursday’s meeting.

(Kyriacos Kyriacou, NCR Cyprus)

Speaking to CBN, investors who had already established a presence in Cyprus lauded the support they had received thus far, particularly highlighting the commendable efforts of Invest Cyprus, and emphasised the need for further support, particularly in terms of energy costs, which can significantly impact their operations.

(Anton Shamin, Azul)

Additionally, participants were keen on fostering a productive dialogue that would generate robust solutions.

(Kurt Sölter, SYKES-part of Sitel Group®)

Recognising the potential for collaboration, investors expressed a strong desire to actively contribute to the development of effective strategies that benefit both their businesses and the country as a whole.

(Alex Eshchenko, Tango)

Moreover, they stressed the importance of expanding educational programmes for technology professionals, both local talent and those relocating to Cyprus as enhancing the skills of the workforce is seen as crucial to support the rapidly evolving technology sector.

(Petr Valov, Exness)

(Sergei Kostevitch, ASBIS)

(Mayssam Youssef, Murex)

(Victor Kislyi and Valentinos Polykarpou, Wargaming)

(Uri Poliavich, BrainRocket)

The discussion was coordinated by the CEO of ΙΜΗ, George Michael