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Russian Businessmen Show Interest in Cyprus Investment Opportunities
Tuesday, October 24, 2017

Russian Businessmen Show Interest in Cyprus Investment Opportunities

There was keen interest in Cyprus’ investment opportunities among the more than 80 distinguished Russian businessmen who attended an official dinner organised by the Cyprus Investment Promotion Agency (CIPA) in Moscow on 23 October 2017.

The Cyprus delegation at the dinner were the President of the Republic Nicos Anastasiades, the Foreign, Finance and Transport Ministers, Ioannis Kasoulides, Harris Georgiades and Marios Demetriades and government spokesman Nikos Christodoulides.

Addressing the dinner, Anastasiades stressed that relations between Cyprus and Russia have never been stronger, both at a political and a business level, with the presence of Russians on the island playing a catalytic role in developing existing expertise and specialised knowledge, particularly in the sectors of technology and innovation. He expressed his gratitude for Russia’s continued support to Cyprus, stressing its contribution in entrenching our country as an international business centre. He made special reference to investment opportunities in various sectors, expressing the conviction that Cyprus can offer Russia even more.

On behalf of CIPA, its chairman Christodoulos Angastiniotis referred to the traditionally close ties between the two markets and the competitive advantages Cyprus offers as an investment destination. “Our aim is to further strengthen the international competitiveness of our country with the introduction of reforms which will modernise the business environment and establish Cyprus as a ‘centre of excellence’ for international business operations,” he stressed. Angastiniotis referred to the large number of Russian businessmen and companies which use Cyprus as a base for their investment activities and expressed the conviction that economic cooperation and business ties between the two countries can be further enhanced.

Referring to the signing of various agreements between Russia and Cyprus, the CIPA chairman said these aimed to boost bilateral relations, particularly as concerns innovation, science, ICT, medical services, energy, transportation and education.

On her part, CIPA director general Natasa Pilides described the investment climate in Cyprus and analysed the prospects for the further deepening of relations between the two countries through the investment opportunities that present themselves. During her presentation, Pilides also briefed participants on current developments at local level which may impact Russian investments in Cyprus

During the dinner, the Russian businessmen were able to obtain first-hand information and clarifications regarding Cyprus’ business environment. They also had the opportunity to express their opinion on important business issues to the President of the Republic and other state officials, as well as to the heads of the largest auditing firms operating in Cyprus.

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Lefteris Livadhiotis & Sons
50 Nikolaou Rossou St,
P.O.Box 42800
Larnaca 6021

Phone: +357 2482 3888
Fax: +357 2462 4222

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