Insider Business Michael: “Foreign investment is key for long-term economic growth”

Michael: “Foreign investment is key for long-term economic growth”

The Cyprus Investment Promotion Agency (Invest Cyprus) will continue working tirelessly to promote Cyprus as an attractive investment destination and business centre of excellence, its chairman Michalis P Michail told the AGM.

Invest Cyprus’ Annual General Meeting took place in the presence of President Nicos Anastasiades, members of the Council of Ministers, businesspeople, foreign investors and diplomats.

In his welcome address, the President congratulated Invest Cyprus for its work, underlining that Cyprus’ return to investment grade vindicated the government’s economic policies as well as the Agency’s wider efforts to achieve long-term economic growth.

On his part,  Michael said that this year marks an important milestone, since the AGM as well as the Agency’s 10-year anniversary, coincide with Cyprus’ return to investment grade.

“The government’s efforts in the past six years, the prudent fiscal management, the repositioning of the financial system on a healthier base and the attraction of investments, are the basic elements that determined the Cypriot economy’s return to growth”, he said.

Michael referred to the remarkable added-value investments materialised in Cyprus in the past years and were key for the country’s return to growth.

He further analysed the Agency’s actions in the past months that aimed to explore opportunities to attract investment, utilising the shift and developments in global economic arena.

Amongst others, he referred to Invest Cyprus’ initiatives to promote Cyprus as a complementary corporate base in view of Brexit, with the design of a specialised communications and lead generation strategy, the targeted pitching approach to identified companies, as well as the organisation of various different events, such as generic and sectorial roadshows, roundtable discussions, and business forums.

In the framework of the AGM and on the occasion of the tenth anniversary of the establishment of Invest Cyprus, the Agency’s Chairman honoured the Organisation’s two first Chairmen, Phidias Pilides and Christodoulos Angastiniotis, for their valuable contribution.

 

 

 

 

Top Stories

Police ask for help to find missing 45-year-old man (photo)

Police on Friday said that Charis Dimou, 45, has been missing from his place of residence in Nicosia since last Friday, September 11. Dimou is...

Man wanted for burglary and malicious damage (photo)

Stelios Dimou, 53, pictured below, is wanted by Police in connection with a case of conspiracy to commit a crime, breaking and entering, burglary...

Second UK lockdown? England COVID-19 cases rising by 6,000 per day

Britain was on Friday considering whether to impose a second national lockdown, after new COVID-19 cases almost doubled to 6,000 per day, hospital admissions...

Rare Mediterranean storm battering Greece’s Ionian islands worse than initially estimated (Photos)

A rare storm, known as a Medicane (Mediterranean hurricane), hit western Greece on Friday, flooding streets, uprooting trees and causing power cuts in the...

Hardalias: State mechanism on full alert, Medicane in progress

The next six to nine hours will be crucial for the Ionian islands, currently in the grip of Mediterranean hurricane 'Ianos', while a new...

Taste

Swordfish with aubergines

To toast the sesame seeds: place sesame seeds in a small non-stick frying pan over low heat and stir until you begin to smell...

Chicken with okra and bulgur wheat

Heat the oil in a pan and sauté the okra until golden. Remove the okra, lay out in an oven tray and sprinkle with...

Ravioli

Just a little before serving, heat the broth and add the ravioli. (If the ravioli is frozen you don’t have to defrost). Heat them...

Seafood kebab with avocado salad

Place the mussels, shrimps and salmon in a bowl together with tarragon and lemon zest. Season and cover, keeping in the fridge for 15...