28 November 2018
Invest Cyprus’ Annual General Meeting took place in the presence of the President of the Republic, Nicos Anastasiades, members of the Council of Ministers, businesspeople, foreign investors and diplomats.
In his welcome address, the President congratulated Invest Cyprus for its work, underlining that Cyprus’ return to investment grade is a strong validation of the government’s economic policies as well as the Agency’s wider efforts to achieve long-term economic growth.
M. Michael, Chairman of the Board of Directors of Invest Cyprus stated that “Foreign investment is key for long-term economic growth” and that "Our goal is a more attractive investment and business environment"
In the framework of this year’s Annual General Meeting, the Cyprus Investment Promotion Agency (Invest Cyprus) pledged to continue working tirelessly to promote Cyprus as an attractive investment destination and business centre of excellence.
On his part, the Chairman of Invest Cyprus Michalis P. Michael said that this year marks an important milestone, since the Annual General Meeting as well as the Agency’s 10-year anniversary, coincide with Cyprus’ return to investment grade. “The government’s efforts in the past six years, the prudent fiscal management, the repositioning of the financial system on a healthier base and the attraction of investments, are the basic elements that determined the Cypriot economy’s return to growth”, said the Chairman of Invest Cyprus. In his speech, Mr Michael referred to the remarkable added-value investments materialised in Cyprus in the past years and were key for the country’s return to growth. He further analysed the Agency’s actions in the past months that aimed to explore opportunities to attract investment, utilising the shift and developments in global economic arena. Amongst others, he referred to Invest Cyprus’ initiatives to promote Cyprus as a complementary corporate base in view of Brexit, with the design of a specialised communications and lead generation strategy, the targeted pitching approach to identified companies, as well as the organisation of various different events, such as generic and sectorial roadshows, roundtable discussions, and business forums.
It is worth noting that in the framework of the Annual General Meeting and on the occasion of the tenth anniversary of the establishment of Invest Cyprus, the Agency’s Chairman Michalis P. Michael honoured the Organisation’s two first Chairmen, Phidias Pilides and Christodoulos Angastiniotis, for their valuable contribution.
Angelos Gregoriades: “Cyprus as a base for investment funds”
Meanwhile, the General Meeting of the Cyprus Investment Funds Association (CIFA) was also organised today. CIFA’s Chairman, Angelos Gregoriades, sent the message that Cyprus has the potential to become a globally attractive base for investment funds and fund managers. Mr Gregoriades underlined the sector’s growth in the past few years, with investment capital inflows to Cyprus increasing by 70% and total assets under management reaching €5.7b, thereby recording a 90% increase.