Invest Cyprus strengthens international ties during strategic mission to Saudi Arabia

Invest Cyprus, the national investment promotion agency of Cyprus, concluded a successful mission to Saudi Arabia, participating in the 28th World Investment Conference (WIC) organised by the World Association of Investment Promotion Agencies (WAIPA).

The conference, hosted in Riyadh by the Ministry of Investment of Saudi Arabia, brought together global policymakers, CEOs, and investment promotion agencies to share knowledge and explore strategies for driving sustainable global economic growth.

Marios Tannousis, CEO of Invest Cyprus, represented the organisation at the conference, participating in the panel discussion “Informative advertising is persuasive: The art of investor engagement.” The session highlighted the importance of transparency, trust, and tailored approaches in building strong investor relationships. Invest Cyprus also received special recognition for its significant contribution to the global FDI landscape.

Additionally, Tannousis participated in the meeting and panel of the Steering Committee of the Regional Investment Promotion Agencies (SCRIPA), which operates under the WAIPA framework, with the theme “Fostering Regional Value Chains through Cooperation within IPA Networks,” coordinated by Emmanuel Noutary, Director General of the Euro-Mediterranean Investment Network, ANIMA. He also had a constructive meeting with the Assistant Minister of Investment in Saudi Arabia and CEO of Invest in Saudi, H.E. Ibrahim Almubarak, to further enhance collaboration and foreign direct investment.

Beyond the conference, the delegation held a series of targeted meetings with prominent Saudi investors, investment groups, and key stakeholders, supported by H.E. Alexis Phedonos, Ambassador of Cyprus to Saudi Arabia. These meetings emphasised Cyprus’ unique advantages as a business and investment hub in the EuroMed region, including its robust legal framework, access to EU markets, and attractive incentives for foreign investors.

A highlight of the mission was the signing of a Memorandum of Understanding (MoU) with Invest in Minas, the investment promotion agency of Minas Gerais, one of the wealthiest states in Brazil. The agreement establishes a foundation for bilateral collaboration in trade, business, and investment, further solidifying Cyprus’s role as a strategic gateway for international partnerships.

Tannousis commented: "We are delighted with the outcomes of our mission to Saudi Arabia, which reflect our ongoing commitment to positioning Cyprus as a premier destination for foreign direct investment. The partnerships and discussions held over these days will undoubtedly pave the way for fruitful collaborations that align with Cyprus' vision for sustainable economic growth.”

As a proud member of WAIPA, Invest Cyprus said it remains dedicated to fostering international partnerships, driving economic diversification, and showcasing the strategic advantages that make Cyprus an ideal hub for global business and investment.