Cyprus Presented as a Potential Investment for the West

At a business forum held last week in New York, President Nicos Anastasiades outlined the multiple and comparative advantages of Cyprus as a business and investment destination. The business forum ‘Invest in Cyprus’ was organised by Capital Link.

In a speech that praised Cyprus’ momentum as a business hub for US investors, President Anastasiades noted the island now stands a major international businesses centre with a number of new and substantial investments in the fields of banking, energy, shipping, telecommunications, real estate and tourism; as well as the largest integrated casino resort in Europe under construction.

Anastasiades further emphasised his government’s commitment to “facilitate business and investment collaborations between the two countries, in order to further widen and deepen cooperation in all envisioned fields and increase the inflow of direct investments from the US to Cyprus.”

In addressing the field of energy, Anastasiades praised the presence and involvement of US companies for the exploitation of natural gas. Noble and Exxon-Mobil have in fact been key players in Cyprus’ exclusive economic zone across the whole search and drilling process of hydrocarbon reserves.

“This does not only mark a new chapter in our bilateral relations, but it is also a tangible sign of trust to the reliable, predictable and stabilising role we have assumed in our volatile neighbourhood,” he said.

In the spirit of embracing the closer cooperation of Cyprus-US relations, Anastasiades further noted that it remains one of Cyprus’ main priorities and at the heart of its foreign policy strategy.

This week, the Cyprus energy minister also announced that Cyprus will be seeking bidders for a €300m project to facilitate natural gas imports. It will also invite energy companies to express interest in another offshore field inside the island’s exclusive economic zone.