articles | 14 May 2024

Cyprus showcased as investment destination in Middle East

National investment promotion agency Invest Cyprus recently showcased the country’s business and investment credentials in the Middle East, while also highlighting that Cyprus can act as a gateway to the EU for companies looking to expand to Europe.

According to an announcement released this week, the above objectives were Invest Cyprus’ primary focus during its participation in the Annual Investment Meeting (AIM) 2024 held in Abu Dhabi on May 7-9. Following the conclusion of that event, the agency’s mission travelled to Kuwait, where a number of key meetings took place.

In its announcement, the agency noted that AIM is a leading event in the investment sector, attracting significant international investors and providing a platform for discussions on trends and opportunities in foreign direct investment. Furthermore, the agency explained Invest Cyprus’ participation in AIM is considered crucial for showcasing Cyprus as a reliable investment destination with a stable business environment and favourable tax regime.

As part of the mission, Invest Cyprus’ CEO Marios Tannousis held a series of important business meetings, closely collaborating with Deputy Minister of Tourism Kostas Koumis, Cyprus Ambassador to the UAE Meropi Christofi, and the Director of the Cyprus Trade Centre in Dubai George Partasides, along with their respective teams. “The meetings focused on promoting investment opportunities in Cyprus and strengthening relations with companies from the Middle East aiming to expand into the EU”, the announcement stated.

Moreover, Invest Cyprus’ mission in the Middle East continued in Kuwait, where Tannousis was received by Kuwait’s Prime Minister, Sheikh Mohammed Sabah Al-Salem Al-Sabah, as a member of the managing committee of the World Association of Investment Promotion Agencies (WAIPA), in the presence of WAIPA CEO Ismail Ersahin and UNCTAD Director of Investment and Enterprise James Zhan. This meeting focused on investment opportunities, challenges of foreign direct investment, and the roadmap for attracting more investments to the region.

The Annual Investment Meeting (AIM) is an initiative of the UAE Ministry of Economy designed to provide a framework for the global exchange of views and experiences on the fundamental principles supporting international investment policies, strategies, and practices for sustainable development towards achieving a smart and inclusive global evolution. Finally, the announcement mentioned that “this successful mission of Invest Cyprus significantly contributed to enhancing Cyprus’ image as an international investment hub and attracting new investments that will create jobs and strengthen the Cypriot economy”.

Source: Cyprus Mail

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