CIPA pro­motes Cyprus as an al­ter­na­tive in­vest­ment des­ti­na­tion

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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