Toronto: President Christodoulides highlighted the comparative advantages of the economy of Cyprus during his contacts in Toronto, namely the country’s strategic geographical location, stable tax and investment framework, economy’s resilience, easy access to highly skilled workforce and dynamic growth prospects in cutting-edge sectors, Government’s Spokesperson Konstantinos Letymbiotis said.
According to Cyprus News Agency, in a written statement as the President wrapped up his visit to Toronto, as part of the strategic campaign to strengthen Cyprus’ international picture as a reliable and attractive investment destination, the Spokesperson noted that the President had a meeting with the founder and CEO of Fairfax, Prem Watsa, one of the most important international investors with an active presence in Cyprus. He also participated in a series of roundtable discussions with leading businessmen and investors, invited by Fairfax, as well as in an event co-organized by PWC Canada and the French-Canadian Chamber.
Letymbiotis also noted that the visit coincided with the upgrade of the economy from A (Low) to A, by DBRS agency.
The Spokesperson also notes that the President’s presence in Toronto and the DBRS upgrade “underlines government’s objectives, namely strengthening the confidence of the international investment community and establishing Cyprus as a pillar of stability and strategic partnerships in the wider region, with a dynamic economy that creates prospects and offers high-paying jobs.”