Cyprus is seeing increased interest from American companies looking to invest on the island, President Nikos Christodoulides said on Monday, announcing plans to lead a business mission to the United States in late November.
Speaking at the annual general meeting of the Association of Large Investment Projects on November 2, Christodoulides said attracting high-quality and productive investment remained a strategic government priority.
“At the end of November, we are returning to the United States of America on a mission in which I will personally participate,” he said, explaining that the visit would involve contacts organised in cooperation with the US government.
He noted that there was “particular and increased investment interest from American companies”, adding that Cyprus wanted to showcase the country’s investment opportunities and prospects.
More than €300m allocated to housing policy
The President also highlighted the housing crisis, describing it as one of the most significant challenges facing Cyprus.
He said the government was investing more than €300 million in housing policy to help citizens access decent and affordable homes.
As part of these efforts, plans are progressing for the construction of 460 homes on state-owned land, in cooperation with the private construction sector. The project represents an investment exceeding €70 million.
Christodoulides stressed that addressing the housing problem required increasing the supply of residential units, making better use of state land and strengthening cooperation between the public and private sectors.
The government is also using building-density allowances and planning incentives to encourage the development of more homes.
Faster permits and less bureaucracy
Turning to the business environment, Christodoulides underlined the need to address obstacles that delay the implementation of major investment projects.
He said the government was working to simplify, digitise and speed up licensing procedures, while also making use of the Business Facilitation Unit to support strategic developments.
The aim, he explained, was to reduce bureaucracy and create a more efficient and business-friendly state.
He also referred to the tax reform that came into effect on January 1, 2026, noting that it was intended, among other objectives, to strengthen the competitiveness of Cypriot businesses.
Growth should improve everyday life, President says
Christodoulides said the positive performance of the Cypriot economy demonstrated the country’s resilience amid international uncertainty.
However, he argued that economic growth should not be assessed solely through financial indicators, but also through the opportunities it creates, the quality of jobs it generates and its impact on people’s everyday lives.
Addressing members of the Association of Large Investment Projects, he called on the business community to contribute to the country’s development through responsible practices, long-term planning and respect for society and the environment.
He concluded by stressing that cooperation between the state and businesses was essential to attracting investment and building a more competitive and productive economy.
Also read: Deputy Minister to promote Cyprus as regional centre for innovation in California
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