The Cyprus Investment Promotion Agency (Invest Cyprus) held a business lunch in Tokyo on Monday in the presence of the Shipping Deputy Minister to the President, Natasa Pilides and representatives of Cypriot professional services companies.
This initiative is part of the Agency’s mission to promote Cyprus as an investment destination and business centre, and within the context of the key priorities set to systematically target and penetrate new promising markets, such as Southeast Asia and the Far East.
Senior executives from some of the largest Japanese firms attended the lunch and were informed about the advantages Cyprus offers for headquartering, such as access to the EU market and the nearby region, an attractive tax system, low operational costs, high-quality services and a high quality of life.
Addressing the lunch, the Shipping Deputy Minister, Natasa Pilides, referred to the long-standing close relations between the two countries, highlighting that they have been upgraded to a large extent in the last years. The recent opening of the Japanese Embassy in Cyprus and the impending opening of the Cypriot embassy in Tokyo are testament to the mutual commitment to strengthen and further deepen the bilateral relations between the two countries
The Director General of Invest Cyprus, George Campanellas, presented the country’s advantages as an investment destination, highlighting the positive outlook of the Cypriot economy as well as the dynamic growth of both traditionally strong sectors such as tourism and shipping as well as new emerging sectors, such as investment funds and technology. Special emphasis was placed on presenting the prospects of the energy market, while attendees showed interest both in renewable energy projects and the hydrocarbon explorations in the Cypriot EEZ and the wider Eastern Mediterranean region.
A panel discussion, coordinated by Nicolas Theocharides, board member of Invest Cyprus, focused on Cyprus’ prospects as an alternative European base for Asian companies, highlighting both general tax incentives and sectoral incentives, particularly in the shipping, investment funds, and in the IP regime areas. Speakers included representatives of professional service providers such as K. Treppides & Co Ltd, KPMG Cyprus and PwC Cyprus. Furthermore, the Cypriot business environment was presented in detail in private meetings with potential investors, during which investment opportunities in a wide range of sectors were highlighted.
Invest Cyprus has placed the Southeast Asian and the Far-East markets high on its list of priorities, as they have enormous potential, even though they have not been adequately explored until now. To this end, Invest Cyprus is planning a series of initiatives to target these markets in the immediate future.