articles | 23 September 2016

CIPA’s NY Cyprus Economic & Investment Summit

The Cyprus Investment Promotion Agency (CIPA) participated in the Cyprus Economic & Investment Summit that took place in New York recently.

According to a CIPA press release, the investors who attended the summit were informed about the opportunities in Cyprus and listen to experiences of other foreign investors who are already active in Cyprus, including Director General of Third Point, David Bonanno, who outlined Cyprus’ advantages as an investment destination.

The summit, the press release says, was also addressed by Minister of Finance Harris Georgiades, who spoke about the Cypriot economy and its competitive advantages. On behalf of the International Monetary Fund, its representative in Cyprus, Vincenzo Guzzo analysed the situation on the ground based on Cyprus` commitments in connection to the world economic environment.

On behalf of CIPA, President of the Board Christodoulos Agastiniotis presented to the investors the investment prospects of Cyprus in traditional and developing sectors of the economy as well as the investment opportunities it offers.

Asked about the impact of Brexit on Cyprus, he said that in the light of this development, there are some companies, that will probably decide to transfer their activities to Cyprus, since Cyprus` legal and financial framework has many similarities with the British one.

He added that sectors, such as education, investment funds etc, are expected to be positively influenced, noting that investments are expected in all main sectors of the economy, not only from the UK but from the Middle East and Asia as well, given Cyprus` strategic geographic position.

On behalf of the Cyprus Investment Funds Association (CIFA), its President Aggelos Gregoriades talked about Cyprus` advantages such as its strategic position, its legal system which is modern and fully harmonized with European and international standards, its competitive tax regime etc.

Source: InCyprus

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