20 December 2021
The Minister of Finance Constantinos Petrides led a mission to Dubai, as part of the strategy for promoting Cyprus in the wider Middle East region and the Gulf countries. The strengthening of investment relations between the United Arab Emirates and Cyprus presents significant prospects, especially in light of the new strategy developed by the Cyprus Government for attracting foreign companies and investments in the country. High-ranking executives from the corporate and investment world of the Middle East attended the event, titled “Roundtable with the Government of Cyprus”.
In the event, the Minister of Finance Constantinos Petrides, in the presence of a selected audience comprised by foreign businesspeople and investors, presented the state and the outlook of the Cyprus economy. Next, together with the Chairperson of Invest Cyprus Yannis Matsis, they drilled down into the advantages of Cyprus as an international business and financial hub and presented the multiple benefits the country confers as a gateway to the European market. The conversation, moderated by Andreas Assiotis, Board Member of Invest Cyprus, offered the delegates the opportunity to ask their own questions. The conversation also highlighted investment opportunities in projects under development in Renewable Energy, Tourism and Hospitality, Education, Health, and Technology, presented the Government strategy that was recently announced by the Ministry of Finance, as well as the long-term development plan “Cyprus 2035” currently prepared by the Cyprus Economy and Competitiveness Council in collaboration with the Ministry of Finance.
A panel discussion between foreign investors with an established presence in Cyprus, namely Abdulla Bin Desmal, Business Development Manager at Dubai Ports World and Dr. Shadi Karam, Chairman of AstroBank, followed. Invest Cyprus CEO George Campanellas moderated the panel discussion, which unpacked the experiences these investors had from operating in our country and their thoughts for what Cyprus has to offer going forward.
“The fact that important business executives from the United Arab Emirates had the opportunity to learn about the prospects of the Cyprus economy and the advantages our country offers from the Minister of Finance himself makes it easier to promote our country as an investment destination in a region with strong economic activity and significant investment funds available,” commented Invest Cyprus Chairperson Yannis Matsis. “We thank the Minister of Finance for his initiative and his contribution in the successful organization of this event,” he added.