Invest Cyprus recently spotlighted Cyprus’ potential as a major business hub at the prestigious Island Conference and Reflect Festival held in Limassol, both of which took place on May 30-31, with the agency outlining its actions in an announcement released this week. Reflect Festival attracted a vibrant mix of digital marketers, startup enthusiasts, potential investors, and influential decision-makers from around the world.
During their presentation, Invest Cyprus emphasised that “Investors are clear on what’s needed: a swift implementation of the Blue Card for professionals in Cyprus and quick integration into the Schengen area.” These steps are crucial for boosting Cyprus’ attractiveness as a top spot for business and investment.
Invest Cyprus described its participation in these conferences as “highly successful,” noting that their representatives had the opportunity “to unfold in front of a specialised audience all the elements that have turned Cyprus into an attractive investment destination.” They explained Cyprus’ advantages as a hub for startups and technology companies, offering substantial opportunities for those interested in establishing or relocating their businesses to the island.
Invest Cyprus acted not only as a sponsor but also ran a booth where their team informed entrepreneurs and potential investors about investment opportunities. It should also be noted that the agency’s board of directors were actively involved in key discussion panels.
Digital Transformation and Strategic Location
Demetris Sparsis, a board member, highlighted in his speech the importance of Cyprus’ digital transformation, stating, “Digital transformation for Cyprus, the huge opportunities it offers for both citizens and businesses, improving public administration, increasing business efficiency, and creating new avenues for growth.”
Sparsis also depicted Cyprus as a “pioneer country in the field of digital transformation with its strategic location within the European Union, proximity to the Middle East and North Africa, and access to over 500 million consumers.” He stressed Invest Cyprus’s role as a one-stop-shop for investments.
The discourse extended into the ‘Starting Up in Cyprus and India’ panel, where Invest Cyprus President Evgenios Evgenios, Deputy Minister to the President Irene Piki, and the President of the Cyprus Business Association of India, Chrysilios Pelekanos, shared insights. Meanwhile, Board Member of Invest Cyprus, Angela Panayiotou participated in a discussion about the self-imposed challenges that women face in the technology sector.
Marios Tannousis, CEO of Invest Cyprus, contributed to a panel organised by TechIsland, presenting the KPMG economic impact assessment of the tech sector and discussing the current landscape and future improvements for Cyprus as compared to other EU tech hubs.
At the Island Conference, Tannousis discussed “Cyprus as a business hub: What you need to know about relocating your company’s operations,” focusing on the strategic location, business-friendly environment, excellent infrastructure, educated and multilingual workforce and growth in key sectors such as technology, shipping, energy, tourism and services. “Invest Cyprus can assist companies looking to relocate or invest in Cyprus by providing free information and advice, helping to find suitable properties for their operations, and liaising with local partners, suppliers, and clients”, Tannousis concluded.
