The progress in implementing the Investment and Talent Attraction Strategy, which has been in effect since 2022, and its enhancement with new actions, were presented today at an event in the Presidential Palace. The event was attended by foreign investors who have been active in Cyprus in recent years, in the presence of President Nicos Christodoulides.

At the event, President Christodoulides addressed the investors, stating that the aim is to make Cyprus one of the most attractive destinations for living and business activities.

As stated in a press release from the Office of the President, the purpose of the event, organized by the Presidency in cooperation with the Cyprus Investment Promotion Agency and attended by over 100 investors, was to inform them about the recent initiatives undertaken by the Government to improve the business and investment environment in Cyprus.

In this context, the progress made in implementing the Investment and Talent Attraction Strategy since 2022 was presented, along with its reinforcement through new actions approved by the Council of Ministers on February 7, 2024. The event also provided an opportunity to identify further needs and challenges faced by investors in relocating their business headquarters to Cyprus and in their activities within the country.

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During the event, President Christodoulides in his opening remarks, highlighted that the strategy's modification was primarily based on the needs of the investment community, as identified during a roundtable discussion held last summer. He emphasized the maintenance of stability in the economy as a prerequisite for attracting investments, noting that Cyprus' investment-grade rating by all Rating Agencies is a vote of confidence in the Government's prudent policies.

He also referred to key actions of the 2024 Annual Governance Program.

President Christodoulides assured the investors that the Government will continue to engage in ongoing dialogue with them, aiming to make Cyprus one of the most attractive destinations for living, working, and conducting business activities.

A presentation of the actions taken by the Government as a result of dialogue with investors was given by the Ministers of Finance, Interior, Energy, Commerce and Industry, Labor and Social Insurance, and Education, Sports, and Youth.

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The actions mentioned include, among others, the new Housing Policy and the Built to Rent program, the possibility of electronic application submission for Renewable Energy Projects licensing, the implementation of the Strategic Investments Law, progress in adopting the Blue Card, and the modification of the regulation for school enrollment age, ensuring the smooth continuation of education for children in the country.