A delegation from the Cyprus Investment Promotion Agency (Invest Cyprus) participated at the Global Business Summit in New Delhi, India, between February 22 and 23 2019.
Director General of Invest Cyprus, George Campanellas and Board member and Chairman of the Promotion Committee, Nicholas Theocharides, took the opportunity to promote Cyprus as an ideal investment destination, as well as a business centre of excellence at this global event hosting attendees from more than 30 countries.
The Global Business Summit was organised by India’s largest media group, the Times Group, and was attended by Prime Minister Shri Narendra Modi, Romanian Deputy Prime Minister Ana Birchall, Luxembourg Deputy Prime Minister and Finance Minister Etienne Schneider as well as government and business delegates from Poland, New Zealand, United Kingdom, USA, United Arab Emirates, Oman, Ireland, Romania and Luxembourg. In addition to state officials, diplomats and corporate leaders, participants also included academics, technocrats, investment and trade specialists, and others.
The Summit included panel discussions and round table debates on sustainable development and best business practices, innovation, as well as specific issues such as climate change, artificial intelligence, new technologies, inclusive economic growth, and promotion of business activity.
It is worth mentioning that Campanellas participated in a round table discussion on “The Ease of Doing Business – Facilitating Sustainable Trade Across Borders”. In particular, the issue of innovative business models, the present and future of investments, cyclical economies, as well as new and revolutionary technologies were discussed.
During the discussion Campanellas analysed Cyprus’ initiatives for digital transformation and e-governance, production and exploitation of renewable energy sources, energy upgrade of existing facilities, as well as the promotion of research, innovation and start-ups. Particular reference was made to investment opportunities in a variety of economic sectors such as shipping, real estate and tourism, and especially the energy sector, in which Cyprus aims to become a regional hub of production, trade and cooperation between countries of the region.
The Global Business Summit was held for the first time in 2015, with the aim of providing solutions to macroeconomic challenges and laying the foundations for sustainable and inclusive growth. It serves as a platform for contacts and discussions between businesses and governments, while offering the opportunity to develop business and commercial ties as well as attract and capitalise on investment opportunities.