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

After first rainfall, flamingos are back to Larnaca’s wetlands – PHOTOS

Winter in coastal Larnaca region’s wetland is never complete without a visit from the distinctive flamingos and true to form they are back again...

‘Apostle Pavlos’ special education school on alert, 37 covid cases recorded

‘Apostle Pavlos’ special education school in Liopetri went on alert after 37 people there tested positive to coronavirus late on Monday. Board chairman of the...

Attempted murder of foreign man outside his Strovolos home

Police are investigating a case of attempted murder after a 28-year-old foreign man was attacked late on Monday outside his home in Strovolos, Nicosia...

Trump administration gives green light to proceed with Biden transition

After weeks of waiting, President Donald Trump's administration on Monday cleared the way for President-elect Joe Biden to transition to the White House, giving...

Worldwide coronavirus cases cross 59.05 million

More than 59.05 million people have been reported to be infected by the novel coronavirus globally and 1,396,757​ have died, according to a Reuters...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...