articles | 23 November 2021

Nouris showcases Cyprus’ comparative advantages at London conference

Minister of Interior Nicos Nouris has invited the international investment and business community to choose Cyprus, stating that the country’s government has “a clear vision on how to develop business”, with the aim to establish Cyprus “as a prosperous, reliable and competitive destination, keen on providing the conditions under which any investor can thrive."

As the keynote speaker at an international business conference in London on Tuesday, titled ‘Business Orientation: Cyprus 2021’, Nouris presented the comparative advantages that Cyprus boasts in the race to attract investors and businesses in the post-pandemic era.

He started off by highlighting the country’s geostrategic location as a “gateway” to connect the European Union to high growth markets in the Middle East, Eastern Europe, North Africa, Asia and beyond.

He then detailed a number of advantages offered to investors by Cyprus, namely, inter alia, the strong economic outlook pointing to a more that 5.4% of GDP growth for the current year; the excellent regulatory status, including an attractive and business-friendly tax system; the strong business support services; the low cost of doing business; the access to high-quality talent; some specific high-return sectors recording growth, such as hospitality and tourism, shipping, real estate, energy, higher education, investment funds, ICT and research and innovation, as well as the professional services sector; an established tech and research ecosystem; quality higher education; and key incentives for foreign companies such as the newly announced Business Facilitation Unit that will provide services for the establishment of corporate entities, and a fast-track New Development licensing policy.

Summing up Cyprus’s offer, Minister Nouris said: “Cyprus is a modern, cosmopolitan and transparent business centre, offering opportunities for investment across a wide range of sectors, such as technology, shipping, innovation, research and development and much more. Capitalizing on its competitive advantages, we continuously improving the business sector, increasing competitiveness and ensuring a stable and robust economic environment, which is business-friendly, with a highly skilled multilingual workforce, where doing business is simple, fast, and efficient.

At the same time, life is of the highest quality, shaping an ideal business environment, to invest, prosper and grow.”

The conference, organised for the fourth year by the ‘Great Britain – Cyprus Business Association’, brought together professionals and experts on various areas of investors’ interest who were able to demonstrate how Cyprus can satisfy such interest.

Speaking to the Cyprus News Agency on the sidelines of the event, Nouris said that Cyprus has tried, and to a large degree managed, to “turn the pandemic crisis into an opportunity”.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for CYFA Cyprus
  • Logo for Cyprus International Businesses Association
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus In Your Heart
  • Logo for Invest Cyprus
  • Logo for Cyprus Shipping Chamber
  • Logo for Cyprus Investment Funds Association