The Association of Large Investment Projects recently presented its recommendations on the role of the private sector in the economic diplomacy strategy promoted by the Ministry of Foreign Affairs.

Led by president of the association, Andreas Demetriades, the delegation discussed with Foreign Minister Constantinos Kombos ways to enhance co-operation to attract investment and establish a favourable institutional framework that would facilitate development projects across Cyprus.

The discussion emphasised the need for a collaborative approach between the public and the private sector to effectively implement the national strategy.

The association committed to active participation in government efforts, advocating for a transparent and consensus-driven process involving both civil society and private entities.

Additionally, the role of Cyprus’ embassies in promoting the country as an investment destination was highlighted.

This involved suggestions to improve networking through diplomatic channels and leveraging the international contacts of the association’s members.

The meeting also addressed the economic and commercial benefits of Cyprus’ imminent accession to the Schengen area, noting the potential for enhanced tourism, trade, and capital movements.

The association stressed the importance of establishing closer public-private partnerships to fully capitalise on the opportunities this development will present.