Cyprus President Nikos Christodoulides said on Saturday that major announcements on new investments from American corporate giants are expected in the near term, while also suggesting that fresh momentum could emerge on the Cyprus issue despite prevailing skepticism.

Investment Pipeline With U.S. Corporate Heavyweights

Speaking to members and executives of the Federation of Cypriot Organizations of America in New York on September 20, Christodoulides pointed to what he described as tangible progress in Cyprus’ effort to deepen its economic relationship with the United States.

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“In the immediate period ahead, we will have very significant announcements for new investments from American giants,” he said, stressing that the government’s outreach is already producing results, particularly in technology.

The president said Cyprus had regained visibility in the U.S. for positive reasons, citing regional initiatives, a successful European Council presidency, and a series of economic indicators that have strengthened the country’s standing with international investors.

Economic Recovery Strengthens The Government’s Case

Christodoulides highlighted Cyprus’ return to investment-grade status, noting that Standard & Poor’s upgraded the country on Friday night. He also said the economy is growing despite global instability and two ongoing wars, while public debt has fallen from roughly 80 percent of GDP to 48 percent.

He added that unemployment remains near full employment levels, at around 3.6 to 3.7 percent, and that the government continues to post public surpluses. These gains, he argued, are allowing the state to invest more in defense, education, health care and social spending.

Defense, Migration And Fiscal Priorities

The president said the 2027 budget approved by the cabinet last Wednesday includes its largest increase in defense spending, underscoring his administration’s focus on deterrence.

He also cited a sharp turnaround in migration policy. When he took office in 2023, he said, migration was Cyprus’ biggest domestic challenge. Today, he described the island as a model in managing migration, with arrivals down by more than 90 percent and returns up by more than 85 percent.

Renewed Outreach In The United States

Christodoulides said his government’s U.S. engagement is designed not only to attract capital, but also to reverse the long-standing brain drain. He pointed to a planned campaign in New York aimed at encouraging Cypriot professionals abroad to return home, saying the effort is already delivering results.

“Once people used to leave Cyprus to work in the United States; today we want to bring people back to Cyprus,” he said.

Beyond New York, he said he will visit Ohio, Boston and Florida to meet with companies interested in investing in Cyprus. Later this year, he will also return to New York for a Financial Times conference focused on Cyprus.

Cyprus Issue Could See Unexpected Movement

Turning to the political front, Christodoulides said he does not rule out meaningful developments toward the resumption of Cyprus talks, despite what he described as a widespread view — especially in Cyprus — that progress is unlikely.

“This is a very full week, with the Cyprus issue dominating the meetings,” he said. “Although there is an atmosphere, especially in Cyprus, that there will be no developments, I do not exclude developments and indeed significant ones toward the direction of restarting the talks.”

He said the discussion would continue later in the week, adding that he would review the week’s events in a more expanded gathering on Friday evening.

U.S.-Cyprus Ties And A New Ambassador

Christodoulides also underlined what he sees as a new phase in relations with Washington. He recently met with the newly appointed U.S. ambassador to Cyprus, whom he described as the first political appointment to the post and a diplomat with personal ties to the American president.

He said those ties could create further opportunities to deepen bilateral cooperation. “I believe, based on our discussion and some of the actions we saw immediately after he took office, that there is room to strengthen our relations even more,” he said.

The president thanked the diaspora for its long-standing support, saying members of the Cypriot community in the United States were among the first to believe in a stronger Cyprus-U.S. relationship.

The Diaspora’s Role

Federation President Kyriakos Papastylianou welcomed Christodoulides and said the meeting reflected the president’s consistent commitment to the diaspora. He noted that the Cyprus issue remains a central concern for expatriates, alongside relations between Cyprus and the United States and the role the diaspora can play in advancing them.

Christodoulides later spoke with community members and responded to their questions.