Cyprus’ comparative advantages as an attractive investment destination and the investment opportunities it offers were highlighted at the Cyprus-USA Business Forum which was jointly organised in New York for the first time by the Cyprus Investment Promotion Agency (CIPA), the Energy Ministry, the Cyprus Chamber of Commerce and Industry and the New York Cyprus Trade Centre.
Held under the auspices of Energy Minister Yiorgos Lakkotrypis, the Cyprus-USA Business Forum saw the presentation of private sector projects in Cyprus to more than 150 American investors while face to face meetings were also held between Cypriot businessmen and investors. There were presentations also on the various sectors where Cyprus has prospects for development, such as energy, banking and finance, investment projects, Cyprus’ institutional and tax regime, as well as Cyprus as an administrative and regional centre for multinational companies. Special reference was made to the Cyprus’ economy’s stabilisation and signs of recovery.
The main speaker at the Forum was the Energy Minister who spoke about Cyprus’ prospects in the energy and tourism fields, while CIPA chairman Christodoulos Angastiniotis set out in detail Cyprus’ advantages as an investment destination. In addition, the Commissioner for Privatisations Constantinos Herodotou referred to the investment opportunities offered in Cyprus by the forthcoming privatisation of semi -government organisations. Cyprus’ commercial attaché in New York Aristos Constantinou and Cyprus Chamber of Commerce and Industry general manager Marios Tsiakkis also addressed the conference.
CIPA’s chairman described the meeting as particularly successful, stressing the flawless organisation and hospitality and the high level of the participating investors. “Cyprus offers a particularly attractive investment product and interesting investment proposals,’’ he said. And he added: “CIPA’s efforts will continue, since attracting foreign investments constitutes the most important pillar in efforts to restart the Cyprus economy.’’
CIPA representatives also took part in a luncheon offered by Forbes, attended by the CEOs of the 30 largest companies in the US. Speaking at the luncheon, Energy Minister Yiorgos Lakkotrypis briefed attendees about Cyprus’ economic and business environment. Representatives from the CTO and the Bank of Cyprus also attended the luncheon.
