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Business Cyprus Investment Watch

President touts Cyprus’ comparative advantages to prospective investors in New York 

The comparative advantages of Cyprus as a business and investment destination were presented on Friday evening by President Nicos Anastasiades during the business forum “Invest in Cyprus” organised by Capital Link in New York.

In his speech, Anastasiades said his government was “fully committed to facilitating business and investment collaborations between our two countries, in order to further widen and deepen our cooperation in all envisioned fields and increase the inflow of direct investments from the US to Cyprus.”

“One of the main priorities of our foreign policy remains the further enhancement of our relations and cooperation with the United States,” he said.

Referring to the comparative advantages of Cyprus as a business and investment hub, Anastasiades said they had established the island as a major centre for international businesses and been further reinforced, leading to a number of new and substantial investments in the fields of banking, energy, shipping, telecommunications, real estate and tourism and the largest integrated casino resort in Europe under construction.

Referring to cooperation in the field of energy, Anastasiades expressed “our deep appreciation for the presence and involvement of American companies – Noble and now through the energy giant Exxon-Mobil – in Cyprus’ exclusive economic zone for the exploitation of hydrocarbon reserves.”

“This does not only mark a new chapter in our bilateral relations, but it is also a tangible sign of trust to the reliable, predictable and stabilising role we have assumed in our volatile neighbourhood,” he said.

Deputy US Assistant Secretary, Matthew Palmer, also addressed the forum attended by Minister of Finance Harris Georgiades, Energy Minister Yiorgos Lakkotrypis, government spokesman, Prodromos Prodromou, undersecretary to the President Vasilis Palmas, and Deputy Minister for Shipping Natasa Pilides.

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