The Cyprus Association of Large Investment Projects and Invest Cyprus agreed to step up cooperation on attracting and facilitating foreign direct investment, following talks between the two organisations this week.

The meeting centred on possible joint initiatives to bring further investment to Cyprus, with particular emphasis on projects capable of delivering a significant economic and development impact.

In that context, the two sides discussed making greater use of their respective expertise and international networks to promote investment opportunities in Cyprus more effectively and strengthen the country’s competitiveness as an international business centre.

The association also used the meeting to emphasise the role of large developments in supporting economic growth and employment, as well as improving infrastructure and services.

At the same time, it stressed that attracting strategic investment depends not only on the projects available, but also on the environment in which investors are expected to operate.

That, it said, requires efficient procedures, quicker decision-making and a stable, modern institutional framework, alongside a competitive and business-friendly environment.

The two sides therefore agreed to keep the dialogue going and look at more concrete initiatives and joint actions aimed at attracting strategic investment to Cyprus.

The stated aim is to support the sustainable development of the Cypriot economy and, in turn, the wider society.