Cyprus at NY Business Forum: Investment Destination & Advantages

The 2nd Capital Link Investment Forum took place last Friday, September 28th, 2018 at the Metropolitan Club in New York City. In the presence of Cyprus’ President Nicos Anastasiades, the island’s global business and investment destination opportunities were presented to international investors, as well as economic stakeholders.

Cyprus Minister of Finance Harris Georgiades, Minister of Energy Yiorgos Lakkotrypis, Deputy Minister of Shipping Natasa Pilides as well as Assistant Secretary of State for European Affairs Matthew Palmer, also attended and addressed the Forum.

The conference focused mainly on Cyprus economy and its prospects, banking and financial services, Cyprus as a regional energy hub as well as a regional maritime hub.

President Anastasiades assured investors that Cyprus is currently fully compliant with money laundering regulations. Replying to a relevant question, the Minister of Finance Harris Georgiades said more efforts should be made to inform of the critical changes and improvements in banking processes that have taken place during the last years.

Speaking to CNA, Mr. Georgiades highlighted the remarkable progress achieved by the Cypriot economy, following the upgrade of the investment grade, the successful entrance to international markets and the confirmation of a positive growth rate.

He also recognized the US administration’s support towards Cyprus and highlighted the importance of the presence of Deputy Assistant Secretary of State Matthew Palmer, saying that: “It is especially important to build even closer and economic relations with the US. And through this relationship, the emergence of the regional role of Cyprus, gives a different dimension to the country`s development policy.”

Minister of Commerce, Energy and Tourism Yiorgos Lakkotrypis, showcased Cyprus’ vision of becoming an energy hub in the Eastern Mediterranean region. During his CNA interview, Mr. Lakkotrypis highlighted the fact that international and American companies have shown great interest in Cyprus’ Exclusive Economic Zone.

“As we progress and we have more discoveries, such as the Calypso deposit, there is even more interest in both the research program and the infrastructure that should be created in the near future,” he added.

During her speech at the forum, Deputy Minister of Shipping Natasa Pilides, presented Cyprus as a world-class shipping destination that has many opportunities for companies operating in the sector. She explained that attracting more companies, expanding relations and presenting the Cyprus registry, were among the direct goals of the Deputy Ministry.