Nicosia, Cyprus. Cyprus is seeking to build on its economic performance, political stability and growing international ties to attract further foreign investment, President Nikos Christodoulides said this week at the 14th Invest Cyprus International Investment Awards. Seven companies were honoured at the ceremony at the Hilton Nicosia.
Awards ceremony recognises seven companies
The event recognised Hartmann Group, Accor, Kraken, a Payward company, SayGames, Reconiq Software Ltd, a member of the Plath Group, Coral S.A. – Coral Cyprus and Premium Access Cyprus.
President highlights stability and trust
Addressing investors, Christodoulides said the country’s direction was built around “stability, perspective, development and security”. He said investment decisions ultimately depended on trust in a country’s institutions, people and long-term prospects.
National promotion strategy launched
He said this approach was reflected in Cyprus’ renewed national promotion strategy, launched earlier this week, which presents the island as “a stable European state with a global orientation” and a European business hub with an international footprint.
Economic indicators cited
The president pointed to recent economic performance, including stronger growth, healthy public finances, lower public debt and Cyprus’ return to an “A” investment-grade rating for the first time since 2011. He also referred to conditions of full employment for the first time since 2008, saying these developments showed that responsible economic policy, political stability and reform could strengthen investor confidence.
Need for further reform
Christodoulides said the country’s credibility would also depend on further progress in modernising the state, simplifying procedures and accelerating digital transformation, while improving the speed and predictability of public services.
Investment strategy linked to foreign policy
He also linked Cyprus’ investment strategy more closely to foreign policy. Following his state visit to India last month, he said opportunities were emerging across technology, financial services, shipping, education, energy, tourism, supply chains and trade.
India, Kazakhstan and United States in focus
Cyprus could serve as “a reliable European gateway for Indian businesses”, he said, offering access not only to the European Union but also to the Eastern Mediterranean, the Gulf and North Africa.
At the same time, he said relations with Kazakhstan were expanding, while a visit to the United States was planned later this year as part of efforts to deepen economic ties and attract new investment. He added that foreign policy should not be treated as separate from the economy, but as a direct tool for development and security.
Skilled labour initiative highlighted
The president also emphasised the importance of skilled labour, pointing to the Minds in Cyprus initiative as part of the effort to repatriate talent and support a more knowledge-based economy.
