The Government intends to assign additional responsibilities to Invest Cyprus, with an emphasis on promoting Cypriot exports, President Nikos Christodoulides announced on Tuesday evening. Addressing an event marking the 20th anniversary of the organisation’s establishment, held in Nicosia, the President said Cyprus had recorded cumulative growth of more than 18% over the past three years, while consistently ranking among the European Union’s two fastest-growing economies during the 2023-2025 period.
President Christodoulides also highlighted the country’s upgraded credit rating to the A category by international rating agencies, stressing that fiscal stability, strong institutions and economic diversification were key prerequisites for sustaining the country’s growth trajectory.
He said that the Government, as the executive branch, was considering giving Invest Cyprus additional responsibilities, adding that an initial discussion had already taken place at Cabinet level. Discussions relate to the country’s export sector, he said, noting that this was an area in which “we clearly need to do more”.
The President said the organisation’s progress was inextricably linked to Cyprus’ economic development, noting that, despite successive crises, the country had managed to strengthen its resilience and diversify its productive base.
He referred to the development of new areas of economic activity, including technology, financial technology, research and innovation, higher education and renewable energy.
According to the President, the technology sector now accounts for more than 15% of GDP, while the start-up ecosystem has grown fivefold since 2020. At the same time, more than 800 technology companies operate in Cyprus.
He concluded by underlining that stability was perhaps the most important prerequisite for sustainable investment, particularly in an international environment characterised by heightened geopolitical and economic uncertainty.
In his address, Invest Cyprus Chairman Evgenios Evgeniou said that, despite growing international competition to attract investment, Cyprus was recording significant results.
Citing preliminary data from the Central Bank of Cyprus, he said foreign direct investment (FDI) had reached €11.6 billion in 2025. He also noted that Cyprus ranked second in the European Union and among the world’s top ten countries in terms of FDI per capita.
According to a University of Cyprus study which Evgeniou cited, annual inflows of new foreign direct investment contribute approximately 3.3% to GDP and support 4.4% of domestic employment.
Referring to Invest Cyprus’ annual survey of international businesses, he said that nine out of ten participating companies intended to remain in Cyprus, while two out of three planned to expand their operations or reinvest in the country.
Source: CNA
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