Cyprus the European investment hub

Cyprus the European investment hub – EBRD meeting

June 5, 2017

On the final day of the annual meeting of the European Bank of Reconstruction and Development (EBRD) held on May 11, Cyprus finance minister Harris Georgiades addressed the session “Cyprus in the Eastern Mediterranean Region: Attractive Investment Opportunities within a Secure Business Environment.”
Suma Chakrabarti, EBRD President, and Kirill Zimarin, CEO of meeting-sponsor RCB Bank, noted that the Cyprus economy has overcome numerous challenges over the last years and established itself, in the international financial environment.
On the Energy subject George Lakkotrypis, Minister of Energy, Commerce, Industry, and Tourism along with Lapo Pistelli executive vice president have noted the business opportunities derived from the recent finding of natural gas as well as viable models for renewable sources of energy. The government promotes investment in the said sector and offers excellent incentives and support to entrepreneurs that choose to invest here.
Pistelli stated that Cyprus could become an energy hub for the broader region. Its geographic location, natural resources, and business environment are key points in favor of the island.
O’Neil of Columbia Ship management refereed to Cyprus as “a location both compelling and relevant for regional headquarters.” Further to the above, it offers infrastructure, specialized workforce, effective judiciary system, and competitive tax regime are decisive factors for companies to establish their headquarters in Cyprus.
Peter De Proft of European Fund and Asset Management Association (EFAMA) stressed the importance of promoting the investment fund sector and commended the efforts being made by the Cyprus Investment Funds Association (CIFA) as a member of EFAMA, stating that the annual meeting of 2018 will be contacted to Cyprus.

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