Finance Minister Constantinos Petrides on Friday described Cyprus’ impressive score in the Greenfield foreign direct investment (FDI) performance index as exceptionally important for both jobs and incomes, particularly during the current tumultuous economic environment.

Cyprus telecommunications authority (Cyta) is participating in the multi-million undersea East Med Corridor (EMC) venture, a data cable that will link Europe with Asia.

Oil major Chevron and the Cyprus government said on Thursday they are committed to speeding up development of the offshore Aphrodite gas field, with a new well will to be drilled in the first quarter of 2023.