CIPA joins discussion on securing Cyprus as a financial centre

The Cyprus Investment Promotion Agency (CIPA) took part in a discussion on “Securing the Success of Cyprus as a Financial Centre” that was organised by the British High Commission in Cyprus, the Cyprus-UK Business Association and the Institute of Chartered Accountants in England and Wales.
The aim of event was to promote the exchange of views among the audience and draw conclusions regarding the development of Cyprus as a strong and credible international financial services centre.
CIPA board member and Honorary Treasurer Marios Klitou pointed out the strong potential of Cyprus in developing into an important financial services centre, stressing at the same time the contribution of CIPA in promoting this objective. He presented an outline of the findings of the sectoral study “Banking and Financial Services in Cyprus”, commissioned by CIPA, noting the advantages of Cyprus and the actions that are required. Klitou also stressed the important and multidimensional role that CIPA plays in supporting foreign investors in Cyprus as well as in promoting legislative and regulatory reforms aimed at improving the local business and investment environment.
The conclusion at the event was that Cyprus, with appropriate planning and co-ordination, has enormous potential to cement itself as an internationally reputable and viable financial services centre.
The discussion was introduced by the British High Commissioner, Peter Millett. Guest speakers also included Michael Izza, CEO of the Institute of Chartered Accountants in England-Wales, Liana Ioannidou, senior executive at the Cyprus Securities and Exchange Commission, Lellos Demetriades, chairman of the Company Law and Tax Planning Committee of the Cyprus Bar Association, and Theodoros Philippou, General Manager of the Institute of Certified Public Accountants Cyprus (ICPAC).