Cyprus is seeking to turn economic resilience, political stability and expanding international ties into stronger foreign investment, President Nikos Christodoulides said as seven companies were recognised at the 14th Invest Cyprus International Investment Awards.

The ceremony, held at the Hilton Nicosia, honoured Hartmann Group, Accor, Kraken, a Payward company, SayGames, Reconiq Software Ltd, a member of the Plath Group, Coral S.A. – Coral Cyprus and Premium Access Cyprus.

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Stability As An Investment Proposition

Addressing investors, Christodoulides said Cyprus is positioning itself around “stability, perspective, development and security,” arguing that investment decisions depend on confidence in a country’s institutions, people and long-term prospects. He said the government’s newly launched national promotion strategy presents Cyprus as “a stable European state with a global orientation” and a European business hub with international reach.

The president highlighted stronger economic growth, solid public finances, lower public debt and Cyprus’ return to an “A” investment-grade rating for the first time since 2011. He also pointed to full employment for the first time since 2008. Christodoulides said Cyprus must continue modernising the public sector, simplifying procedures and accelerating digital transformation.

Foreign Policy As An Economic Tool

The president also linked the country’s investment agenda to foreign policy. Following his state visit to India, he said opportunities were emerging in technology, financial services, shipping, education, energy, tourism, supply chains and trade.

He described Cyprus as “a reliable European gateway for Indian businesses,” providing access to the European Union as well as the Eastern Mediterranean, the Gulf and North Africa.

Christodoulides added that relations with Kazakhstan were expanding and that a visit to the United States is planned later this year to strengthen economic ties and attract additional investment.

He also highlighted the Minds in Cyprus initiative as part of efforts to attract skilled talent and support a knowledge-based economy.

Business Leaders Call For Continued Reform

Invest Cyprus chairman Evgenios Evgeniou said the companies recognised at the ceremony had contributed to employment, innovation, sector development and Cyprus’ international connectivity.

He said foreign direct investment had helped make technology one of the country’s key growth sectors, while urging continued reforms, including faster digitalisation, judicial reform, less bureaucracy and further investment in infrastructure.

PwC Cyprus chief executive Andreas Yiasemides said Cyprus should prioritise long-term, sustainable and innovative investment rather than focusing solely on volume. He added that continued progress would depend on cooperation between the government, regulators, businesses and the professional services sector.