Cyprus risks losing investment unless it reduces bureaucracy and creates a more predictable regulatory environment, U.S. Ambassador John Breslow warned on Friday, saying the country cannot afford to let business opportunities go unrealised.
Speaking at the first annual conference of the American Chamber of Commerce in Cyprus, Breslow said even the departure of a single U.S. company would represent an unnecessary setback.
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“Even one company that leaves is one more than it should be.”
Investors Need Predictability
Breslow urged Washington and Nicosia to work together to remove barriers to investment, stressing that major, long-term commitments depend on stable and predictable rules.
“Companies need certainty to make large, long-term investments. This is one of my highest priorities.”
He welcomed Cyprus’ intention to tackle European bureaucracy during its presidency of the Council of the European Union, arguing that efforts to remove rules that undermine prosperity in both countries should continue.
As an example of the cooperation needed, Breslow pointed to a recent U.S.–Greece agreement on critical minerals and secure supply chains. He also welcomed Cyprus’ investment-screening legislation, while calling for similar scrutiny to be extended to public procurement.
Positioning Cyprus As A U.S. Business Hub
The ambassador described Cyprus as a potential base for American companies operating across Europe, saying the bilateral partnership makes both countries “more secure, stronger and more prosperous”.
President Nikos Christodoulides is expected to visit the United States at the end of the month to promote Cyprus as an investment destination at a Silicon Valley technology summit. The visit forms part of broader efforts to strengthen commercial and technology ties.
Security cooperation is another pillar of the relationship. The two countries signed a five-year defence cooperation roadmap in 2024, while U.S. warships have made more than 100 calls at Cypriot ports since 2022.
Cyprus has also signed its first foreign military sales agreement with the United States. Breslow said the deal would support the expansion of Paphos air base for American and Cypriot forces. He added that Cyprus had sent its 100th military student to the United States for training.
“Security enables investment, and every defence agreement between friends creates jobs and stronger partners on both sides of the Atlantic.”
Energy And Regional Connectivity
Breslow said Cyprus is working with ExxonMobil, Chevron, Halliburton, Baker Hughes and McDermott on regional interconnections.
“Energy security is national security.”
He also highlighted undersea electricity and data cables, as well as the India–Middle East–Europe Economic Corridor, describing Cyprus as centrally positioned in the region’s developing infrastructure network.
The ambassador pointed to the United States–Cyprus–Greece–Israel “3+1” grouping as another area with significant potential. He also cited the Eastern Mediterranean Energy Centre, launched at Rice University in Houston in June, and the U.S.-funded Cyclops regional training centre in Larnaca, which provides border-security training to officials from dozens of countries.
Building The Next Generation Of Business Links
Breslow called for more opportunities for young Cypriots to study and work at American companies, linking talent development to Cyprus’ ability to attract and retain investment.
He concluded by rejecting the suggestion that “the days of the West are over”, arguing that stronger commercial, energy and security ties can deliver lasting benefits on both sides of the Atlantic.
