Evgenios Evgeniou: €3.2b in foreign investments over 2023, creating 2,500 new jobs

The Chairman of Invest Cyprus, Evgenios Evgeniou, said that in 2023, foreign investments reached €3.2 billion creating 2,500 new jobs, addressing Invest Cyprus’ Annual General Assembly in Nicosia.

The Assembly, held on 14 November, was also attended by Minister of Finance Makis Keravnos, who said that Invest Cyprus has worked hard and given a significant boost to investments in Cyprus and by extension to the economy.

Keravnos said he was satisfied with Invest Cyprus’ work and assured that his ministry will always be in close cooperation.

The Minister said that they have exchanged views on the issues that Invest Cyprus will focus on next so as to bring even better results for the economy.

Evgeniou thanked the Minister for the support and cooperation over the past year, as well as for the views they exchanged in relation to Invest Cyprus’ planning for the coming year.

He said that in 2023 foreign investments reached €3.2 billion, while 2,500 new jobs were created. The technology sector, he added, has been a driving force, with Cyprus now hosting over 800 technology companies, more than 250 of which were established between 2021 and 2023.

Evgeniou said the specialised services and talent sector also experienced substantial growth, with dozens of international companies and thousands of employees relocating to the country. This has created a vibrant ecosystem contributing over 10% to the GDP.

“The influx of these companies enhances the technology sector and upgrades the skillset of the workforce,” stated Evgeniou.

“In the future, we will also focus on investments that strengthen the productive base, based on collaborations between Cypriot entrepreneurs and foreign investors,” he concluded.