Nicosia: The visit of the President of the Republic, Nikos Christodoulides, to the USA was successfully completed, with the contacts and meetings he had confirming the international confidence in the Republic of Cyprus and the positive image it projects, as stated in a written statement by Government Spokesman Konstantinos Letymbiotis.
According to Cyprus News Agency, the Spokesman noted that the President “successfully completed a series of significant contacts in the United States aimed at enhancing the international image of the Republic of Cyprus as a reliable investment destination and leveraging the competitive advantages of our country in areas of high strategic importance.”
In New York, Letymbiotis said, the President’s contacts focused on the financial sector, with meetings with international investment funds, banking institutions, and financial sector companies. Special emphasis was placed on the exceptional performance of the Cypriot economy – a positive growth rate of 3.4%, ranking among the hig
hest in the Eurozone, the reduction of public debt to 66% of GDP, a 4% fiscal surplus, and unemployment below 5%.
Combined with the country’s upgrade to Category A by all international rating agencies, the Spokesman noted that these elements were considered from the meetings the President had, as decisive factors for increasing confidence in Cyprus’ financial services sector.
In Houston, Texas, the focus of the contacts was on the energy sector, where the President of the Republic’s meetings with the leaderships of Chevron and Exxon, which operate in the Cyprus Exclusive Economic Zone, confirmed the willingness to accelerate the utilisation of the country’s energy resources.
A significant development, Letymbiotis noted, is the initiation of seabed research work by Chevron in the coming summer for the installation of a pipeline from the “Aphrodite” field to a landing point in Egypt, as well as the prospect of developing synergies to expedite the utilisation of natural gas from the Cyprus EEZ, strengthening
the energy strategy of the Republic of Cyprus.
President Christodoulides’ visit to San Francisco, particularly Silicon Valley, highlighted the great prospects for Cyprus’ development in the field of Technology and Artificial Intelligence, the Spokesman further stated.
Specifically, through meetings with leading companies – OpenAI, Amazon, Google, Nvidia, Oracle, Plug and Play, and Tenstorrent – the President highlighted the capabilities Cyprus country offers as a technology hub. The announcement of intentions by Tenstorrent and Plug and Play to operate in Cyprus was an encouraging and immediate result, simultaneously confirming the attractiveness of the country’s innovation and technology ecosystem and the prospects for its further enhancement, the Spokesman said in his statement.
At the same time, the Government Spokesman noted, the intention of giant companies like NVIDIA and Amazon to explore cooperation with Cyprus and establish a presence in the country demonstrates the breadth and dynamism of Cyprus’
s technological sector, which already contributes 14% to GDP.
“The meetings of the President of the Republic with Cypriots in the diaspora, who excel internationally holding leadership positions in major companies – mainly in the technology sector – held particular value and significance, as they expressed their willingness to contribute substantially to the developmental efforts of our homeland, utilising their expertise and network of influence,” he added.
The utilisation of the human resources of the diaspora, he noted, “is a strategic pillar in the national effort to transform Cyprus into a model of innovation and development”.
Letymbiotis noted that “the President’s contacts are recorded as absolutely successful and productive, confirming the international confidence in the Republic of Cyprus and the positive image it conveys.” He added that “our country is now presented as a stable and reliable partner in a region of complex challenges, capable of providing a secure, regulatory mature, and economical
ly viable environment for investments.”
The strategic goal of transforming Cyprus into a hub of innovation and financial services is reinforced with tangible results, he emphasized.
He also said that the outcomes of the contacts are part of a broader framework of reforms, upgrading the international profile of the Republic of Cyprus and enhancing the outward orientation of the economy. In just two years, the Spokesman said, “transparency has increased, credibility has been established, Cyprus’ geopolitical presence has been upgraded, and the Cypriot economy has been fortified. Cyprus is changing, evolving, and radiating dynamism. Our steady course, expertise, political will, and human capital constitute the best guarantee for the future”.
The recorded investment interest is not a transient occurrence, he said, but the result of methodical and targeted work.
“Cyprus is earning the place it deserves on the global investment map, and the benefits of this trajectory are manifold: creation of quality jobs, enh
ancement of innovation, increase in competitiveness, and strengthening the resilience of our economy,” the Government Spokesman said.
“We continue with planning, determination, and faith in the strong and limitless possibilities of our homeland,” says Letymbiotis.
Meanwhile, Letymbiotis reposted remarks by founder and CEO of Plug and Play, Saeed Amidi who said it was an honor to host President Christodoulides adding that “we had a great discussion about how we can collaborate to strengthen Cyprus’ startup ecosystem by connecting them with our global network.”
Irene Piki, Deputy Minister to the President, said it was “great to be back” at Plug and Play, noting that the company’s decision to explore further collaboration and extend their footprint in Cyprus is “a great vote of confidence” to the country’s emerging and dynamic startup and innovation ecosystem.
In a post on “X”, Panos Panay, Product Maker, Leads at Amazon Devices and Services said it was an honour to meet with President Christodoulides this w
eek “and learn about his plan to bring even more innovation, education, and technology to Cyprus. Amazing to have the opportunity to discuss such an inspiring topic with an incredible group of people.”
Replying, President Christodoulides thanked Panay for “the inspiring meeting”, adding that he is “looking forward to working with you and Amazon to digitally transform our country.”
In a post, Kent Walker President, Global Affairs at Google and Alphabet said he appreciated the chance to meet with President Christodoulides “to discuss how we can work together to make AI and cutting-edge technologies even more valuable for everyone. The economies leading the way in adopting these tools will reap extraordinary benefits”.