Cyprus International Businesses Association (CIBA) and Invest Cyprus (CIPA) signed a memorandum of understanding to coordinate efforts in attracting foreign investment. The agreement outlines cooperation between the two organisations on investment promotion and investor support.
Strategic Objectives
The memorandum includes coordination on sharing investment-related information, organising joint events and business missions, and supporting existing and prospective investors. Access to information on investment opportunities, regulatory developments, and available incentives is expected to improve under the initiative.
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Coordinated Collaboration For Enhanced Competitiveness
Cooperation also covers knowledge-sharing, technical coordination, and joint international initiatives. Vasilis Demetriades, President of CIBA, said the partnership is intended to align the international business community with national investment efforts. He added that the initiative focuses on improving transparency and competitiveness.
Unified Approach To Driving Investment
Invest Cyprus Chief Executive Marios Tannousis said the memorandum will strengthen engagement with the international business community and improve understanding of investor needs. He added that the agreement supports a more coordinated approach to attracting new investment and expanding existing operations.
The collaboration reflects a joint public-private framework aimed at supporting investors throughout the full investment cycle, from initial interest to long-term growth.
In tandem with the agreement, CIBA and Invest Cyprus co-hosted an event titled “FDI & Omnibus: Driving Cyprus’s Competitive Edge in the EU Legal Landscape” at the end of March. The event brought together stakeholders to discuss regulatory developments and investment conditions within the European Union.
Discussions focused on how Cyprus can adapt to changes in EU legislation while maintaining its position as an investment destination, as well as the role of coordinated initiatives in supporting investment flows.
