Invest Cyprus marks 20 years with focus on attracting quality investment

Invest Cyprus celebrated its 20th anniversary this week, with an event attended by President Nikos Christodoulides, government officials and representatives of the political and business communities, highlighting its contribution to attracting foreign investment and strengthening Cyprus’ international business presence.

The anniversary event, held at the Landmark Nicosia on Tuesday, brought together members of the government and House of Representatives, diplomatic corps representatives, investors, businesspeople and the organisation’s partners.

The occasion provided an opportunity to review Invest Cyprus’ development since its establishment in 2006, while outlining its priorities for the coming years, particularly the attraction of quality investments and further strengthening the island’s position on the international investment map.

In his address, Invest Cyprus chairman Evgenios Evgeniou described how the organisation had evolved from a body primarily responsible for promoting the country into a strategic partner of the state, playing a more substantial role in attracting and facilitating investment.

“Twenty years ago, some people believed that a small country could claim a bigger place on the international investment map. And they were right,” Evgeniou said.

Presenting the organisation’s new 2027-2030 strategy, he identified four main priorities, namely attracting quality investment, supporting existing investors, strengthening international outreach and improving the investment environment.

The strategy is intended to build on the organisation’s previous work while ensuring that incoming investment generates lasting benefits for the Cypriot economy.

Addressing the gathering, President Nikos Christodoulides congratulated Invest Cyprus on its two decades of contribution to economic development and the country’s international promotion.

“The journey of Invest Cyprus is, in many ways, inextricably linked with the journey of modern Cyprus,” Christodoulides said, recognising its role in attracting investment and developing international business partnerships.

The event also featured Chris Knight, managing director of FT Locations, part of the Financial Times group, who presented data examining Cyprus’ progress on the international investment map over the past two decades.

Knight highlighted the island’s significant progress in attracting international investment and the gradual diversification of its economy, with particular emphasis on the development of the technology sector.

He also stressed that maintaining a stable business environment, investing in human capital and strengthening cooperation between the public and private sectors would be essential to sustaining this progress.

The anniversary celebrations included a ceremony honouring eight former senior officials who contributed to Invest Cyprus’ establishment, development and subsequent work.

Four former chairmen of its board of directors, Phedias K. Pilides, Christodoulos E. Angastiniotis, Michalis P. Michael and Yiannis Matsis, received awards in recognition of their leadership and contribution to the organisation over the years.

Four former general managers, Soteris Soteriou, Charis Papacharalambous, Natasha Pilides and George Campanellas, were also honoured for their work in developing and establishing Invest Cyprus as a key institution responsible for promoting investment in the country.

Through the awards, the organisation expressed its appreciation to those who had worked towards fulfilling its mission, underlining the importance of institutional continuity and collective effort.

Invest Cyprus also thanked the government, investors, business associations and institutional bodies for their longstanding trust, support and cooperation in efforts to strengthen Cyprus’ international investment presence.

Looking ahead, the organisation said it would continue working to improve the competitiveness of the Cypriot economy and reinforce its international standing, building on the achievements of its first 20 years.

Its new strategy is centred on the concept of “stability with perspective”, through which it aims to attract investments that create long-term value for the economy, businesses and Cypriot society.

The anniversary comes as Invest Cyprus seeks to strengthen its role not only in attracting new international businesses but also in supporting existing investors and improving the conditions under which companies operate on the island.