CIBA, Invest Cyprus sign MoU to bolster FDI and raise Cyprus’ investment profile
Cyprus’ international business community and the island’s investment agency have agreed to closer coordination to attract and support foreign investors, with the Cyprus International Businesses Association (CIBA) and Invest Cyprus (CIPA) signing a memorandum of understanding, according to a CIBA statement.
The agreement establishes a framework for deeper cooperation focused on foreign direct investment, sustainable economic growth and improving Cyprus’ visibility as a competitive destination for international investors. Under the memorandum, the two organisations will exchange investment-related information, organise joint events and business missions, and provide coordinated support to existing and prospective investors.
The statement said the partnership will also work to improve access to information on investment opportunities, regulatory developments and available incentives, while helping investors navigate the local business and regulatory framework. In addition, CIBA and Invest Cyprus will encourage knowledge-sharing, technical cooperation and joint international initiatives aimed at promoting Cyprus abroad as a business and investment base.
CIBA described the collaboration as a more unified public–private approach to promoting the country internationally and supporting investors from initial interest through to establishment and long-term growth. CIBA president Vasilis Demetriades called the agreement an important step in aligning the voice of the international business community with national efforts to attract investment.
“CIBA aims to contribute to a more competitive, transparent and business-friendly environment, while reinforcing Cyprus’ role as a reliable hub for international business and investment,” he said.
Invest Cyprus chief executive Marios Tannousis said the memorandum “further strengthens joint efforts to promote Cyprus as a leading investment destination.” Working more closely with CIBA, he added, will help the agency engage with the international business community, better understand investor needs and take a more coordinated approach to both attracting new investment and supporting the expansion of existing operations.
In connection with the signing of the memorandum, the two organisations co-hosted an event, end of March, titled “FDI & Omnibus: Driving Cyprus’s Competitive Edge in the EU Legal Landscape.”