Nicosia:President Nikos Christodoulides has announced that he will lead a business mission to the United States in late November. This initiative comes as interest from US companies in investing in Cyprus is on the rise. The mission will be organized in collaboration with the US Government, aiming to showcase the investment opportunities available in Cyprus.
According to Cyprus News Agency, President Christodoulides made the announcement at the annual general assembly of the Association of Large Developments in Nicosia. He emphasized the government's broader efforts to attract quality and productive investments, noting that this mission follows similar initiatives targeting other countries. The President also highlighted the government's commitment to improving Cyprus's business environment to make it more attractive to international investors.
In his address, President Christodoulides outlined several measures undertaken by the government to facilitate this goal. These include simplifying, digitizing, and expediting licensing processes, as well as the establishment of a Business Service Centre to support strategic developments. He also mentioned a tax reform that took effect on January 1, 2026, designed to enhance the competitiveness of Cypriot businesses and create more favorable conditions for investment.
Furthermore, the President announced plans to construct 460 homes on state-owned land in partnership with the private construction sector, representing an investment exceeding £70 million. The overall investment in the government's housing policy surpasses £300 million. This initiative aims to increase housing supply, utilize public land, and offer planning incentives to tackle affordability issues.
President Christodoulides called for collaboration between the public and private sectors to expand available housing and contribute to a more productive and resilient economy. He also addressed the resilience of Cyprus's economy despite international uncertainties, emphasizing the importance of attracting investment that generates well-paid jobs and strengthens the economy's added value.
Stavros Stavrou, President of the Cyprus Chamber of Commerce and Industry, highlighted the significance of major developments for the country's economic progress, underscoring the importance of maintaining a stable and predictable investment environment. Meanwhile, Andreas Demetriades, President of the Association of Large Developments, called for a review of the strategic investment framework to encourage its use and urged the government to address housing shortages and other challenges affecting major projects. The Association's members manage developments valued at over £8 billion, including marinas, casinos, and research parks.