CIPA promotes Cyprus as an alternative investment destination
Cyprus can play a significant role as a base for regional offices or headquarters of international professional and financial services companies, given the recent progress made in reconstructing and developing the economy and its strategic position as a link between the EU and countries like China, India and the Middle East, according to the Cyprus Investment Promotion Agency (CIPA). As part of its mission for the promotion of Cyprus as an attractive destination for foreign investment, CIPA took part in the “Markets Most Influential 2016” events organised by Bloomberg.
The events were held simultaneously in Hong Kong, London and New York with leading personalities from the business and investment sector from across the world taking part in discussions on the world economy and investments.
CIPA participated in the events held in Hong Kong and London accompanied by representatives of the professional and financial services sector. Taking part in CIPA’s delegation were the Chairwoman of the Securities and Exchange Commission, Demetra Kalogerou, Central Bank board member Andreas Persianis, the Chairwoman of Hellenic Bank Irena Georgiadou, the General Manager of the Co-operative Central Bank Nicholas Hadjiyiannis, the CEO of the Bank of Cyprus, John Hourican, as well as representatives of the largest audit firms and other international organisations operating in Cyprus.
During the events, the Cypriot delegations had the opportunity to attend sessions and exchange views on issues such as the repercussions from the decision of the United Kingdom to exit the EU, as well as the threats and opportunities arising for the City of London, emerging investment markets and the more general developments affecting investments worldwide.
Matters like fiscal policy, the potential impact of the United States’ election results on international markets, the latest developments in the world banking sector and the role of technology in investments were also discussed.
Summing up the morning sessions in Hong Kong, CIPA Chairman Christodoulos Angastiniotis made special reference to increased interest being shown by Chinese investors in Cyprus in the energy, shipping, professional services, infrastructure and real estate sectors. Commenting on the role Brexit could play in attracting new investments to Cyprus, Angastiniotis said that, given the current uncertainty regarding the United Kingdom’s future access to other European markets, the country risks eroding its leading position as a centre for Chinese investments in Europe. Cyprus, like other European countries, has the appropriate resources to attract such business and, hence, capitalise on any emerging opportunities.