Cyprus tech sector attracts over €2.5 billion in new foreign capital

Invest Cyprus on Friday presented the results and actions for 2024 and 2025 during its annual general meeting, highlighting the strengthening of Cyprus’ international investment position and the growing contribution of foreign investors to the national economy.

The organisation said the results confirm the significant contribution of foreign direct investment to Cyprus’ economic development and the central role played by Invest Cyprus in attracting international investors and expanding the presence of foreign companies on the island.

According to the presentation, 2024 marked a year of particularly strong performance, with Cyprus recording gross foreign direct investment inflows of €8.5 billion, representing an increase of approximately 60 per cent.

The country also ranked second in the European Union and among the global top ten for foreign direct investment per capita, reinforcing its position as an attractive destination for international capital.

At the same time, €2.6 billion in investment was directed to the technology sector, particularly information and communication technology, further strengthening Cyprus’ rapidly expanding technology ecosystem.

Invest Cyprus said it actively contributed to this momentum, recording more than 70 quality letters of intent for investment projects and advancing 12 major investments during the period.

In addition, more than 420 companies established operations in Cyprus through the Business Support Centre, reflecting growing international interest in the country as a business location.

Another milestone was the publication of the first comprehensive study on the economic impact of foreign investment, prepared by the Economics Research Centre of the University of Cyprus.

According to the study, new foreign investment inflows within a single year contribute 3.3 per cent to Cyprus’ gross domestic product and 4 per cent to employment.

The research also found that technology companies created through foreign investment contribute approximately 11 per cent to the country’s GDP, highlighting the role of foreign investment in creating new sectors of economic activity within the framework of the Vision 2035 strategy.

During 2025, Invest Cyprus implemented an extensive international outreach programme, including presidential missions to Canada, New York and San Francisco.

The programme also included a high-level business visit from India, which accompanied the country’s prime minister during an official trip to Cyprus.

At the same time, the organisation promoted several strategic partnerships aimed at strengthening economic cooperation.

These included the establishment of the India–Greece–Cyprus Business and Investment Council, the creation of a UAE–Cyprus Business and Investment Council, and the reinforcement of trilateral cooperation between Greece, Egypt and Cyprus.

During the reporting period, the organisation also supported approximately 800 existing and prospective companies, further strengthening the country’s investment ecosystem.

Looking ahead to 2026, Invest Cyprus said it will place particular emphasis on the international promotion of Cyprus through cooperation with the Financial Times, including targeted events in London and New York aimed at strengthening the country’s presence in key strategic markets.

In addition, a business and investment mission to India is being prepared in cooperation with the Cyprus Chamber of Commerce and Industry, in the context of an official visit by the President of the Republic to India.

The organisation also stated that it is contributing to the development of the Cypriot defence industry through partnerships and contacts with companies from India, France, Italy, the United Kingdom and Spain, working alongside the Defence Ministry and private sector stakeholders.

Within the current geopolitical environment, Invest Cyprus stressed the importance of delivering unified and credible messages to the international business community.

In this context, a coordinated international communication initiative will be launched in cooperation with the Presidency, the Ministry of Foreign Affairs and private sector partners, supported by the organisation’s international advisers.

The core message of this initiative will emphasise that Cyprus remains a safe and stable country for investment.

During the annual general meeting, the organisation also welcomed the new board of directors, expressing confidence that it will support the continued development of Invest Cyprus and further strengthen the country’s international investment profile.

“The annual general meeting is an important opportunity for review and strategic direction,” said Invest Cyprus chairman Evgenios Evgeniou.

“The results of 2024 and 2025 confirm that Cyprus is steadily strengthening its position on the international investment map and that Invest Cyprus plays a substantial role in attracting quality investment, supporting international businesses and highlighting the advantages of our country,” he added.

“Warm congratulations to the new board of directors,” Evgeniou continued.

“I am confident that with consistency and a clear strategic direction we will continue to strengthen the organisation’s mission,” he added.

“The attraction of quality foreign investment is a key pillar of the government’s economic policy,” said Finance Minister Makis Keravnos.

“The results presented at the annual general meeting confirm Cyprus’ momentum as an investment destination and the importance of the work carried out by Invest Cyprus in promoting the country abroad, facilitating investors and strengthening the competitiveness of our economy,” he added.

“The continuation of a targeted strategy with steady and credible messages is of decisive importance for maintaining this positive course,” Keravnos stated.

The meeting reaffirmed Invest Cyprus’ commitment to strengthening the country’s investment ecosystem, promoting reforms that improve the business environment and implementing initiatives that create long-term value for the Cypriot economy.

Invest Cyprus serves as the official organisation of the Republic of Cyprus responsible for promoting investment and supporting economic development, with a mission to attract high-quality foreign investment and support international companies establishing or expanding operations in the country.

The organisation provides comprehensive services to foreign investors, acting as a strategic partner for companies seeking to establish or expand their presence in Cyprus.

The new board of directors of Invest Cyprus includes chairman Evgenios Evgeniou, vice chairman Yiangos Hadjiyiannis, and members Dimitris Sparsis, Marilena Constantinou, Angela Panayiotou, Irene Georgalla, Stylianos Parparinos, Andreas Assiotis, Andreas Mouzourides, Yiannis Hatziparaskevas, Christos Onoufriou, Aliki Sergi and Melina Dionysiou.