Invest Cyprus deepens economic ties with India
National investment promotion agency, known as Invest Cyprus, on Thursday announced that it recently participated in the India Mediterranean Business Conclave 2024.
The event, held on September 6 in New Delhi, was part of the agency’s “ongoing efforts to position Cyprus as a premier destination for investment and business activities”, according to the announcement.
The event was co-organised by the Ministry of External Affairs of India and the Confederation of Indian Industry (CII).
It brought together high-profile business leaders and government representatives from 28 nations, including Greece, France, Italy, Malta, Croatia, and Bulgaria.
“Invest Cyprus launched its strategic engagement in India by organising an exclusive roundtable discussion on September 5, 2024, focusing on the technology and services sectors,” the agency said.
“The roundtable, which attracted many prominent businesses from India, facilitated in-depth discussions on Cyprus’ business-friendly environment, its growing reputation as a tech hub, and its strategic location as an ideal gateway into the European Union for companies seeking expansion,” it added.
The announcement mentioned that during the roundtable, Nicodemos Damianou, Deputy Minister of Research, Innovation, and Digital Policy, outlined the government’s policy direction on digitalisation and innovation.
In addition, he spoke about the ministry’s strategies for digital transformation and advancing a research-driven economy, while also providing insights into future developments.
Meanwhile, the Chief Scientist of Cyprus, Demetris Skourides highlighted potential areas of collaboration for Indian companies with Cyprus’ Centers of Excellence, showcasing their breakthroughs in commercialising research.
Moreover, the announcement mentioned that Evagoras Vryonides, the High Commissioner of Cyprus to India, “actively engaged in and significantly contributed to the roundtable discussions”, while Viraj Kulkarni, the newly appointed Honorary Consul of Cyprus in Mumbai, “played a key role in facilitating the dialogue”.
The agency also said that through these discussions, Marios Tannousis, CEO of Invest Cyprus, “highlighted Cyprus’ attractiveness by emphasising further advantages, including its favourable tax regime and skilled workforce”.
He also reiterated the “country’s commitment to fostering long-term partnerships and enduring business relationships, positioning Cyprus as a premier destination for Indian companies seeking investment and expansion opportunities in Europe”.
During the conclave, on September 6, Invest Cyprus also contributed to a session titled “India – Mediterranean: A Way Forward – Creating Partnerships for the Future”.
The session focused on facilitating dialogue and exploring avenues for collaboration.
“Invest Cyprus, alongside other key stakeholders, highlighted the country’s role as a regional player and discussed strategies for attracting investments and enhancing business operations in Cyprus,” the agency mentioned.
In addition, Marios Tannousis, CEO of Invest Cyprus, highlighted Cyprus’ strategic advantages, stating that “Cyprus holds immense potential to drive growth, innovation, and long-term partnerships between the two regions, offering an ideal gateway for Indian businesses expanding into Europe”.
Participants in the session included Evagoras Vryonides, High Commissioner of Cyprus to India; Nicodemos Damianou, Deputy Minister of Research, Innovation, and Digital Policy of Cyprus; Amrit Lugun, Former Ambassador of India to Greece; and Theodoros Loukaidis, Director General of the Research and Innovation Foundation (RIF).
Finally, other participants included Panayiotis Chrysostomou, Manager of Banking Services & International Credit at Eurobank Cyprus Ltd; and Chrysilios Pelekanos, President of the Cyprus-India Business Association and Tax Partner at PwC Cyprus.