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04-07-2019 08:34

Address by the President of the Republic Mr Nicos Anastasiades presented by the Minister of Finance Mr Harris Georgiades on the 8th International Investment Awards -3 July 2019

I am honored to welcome you all at the Presidential Palace, on behalf of President Anastasiades who, as I am sure you all know, has suffered an injury and is, regrettably, unable to attend. I will proceed with the presentation of the Presidents welcoming address: 

It is a great pleasure to be hosting the Invest Cyprus - International Investment Awards at the Presidential Palace. This is an event that has been running for eight years and which aims to offer an official acknowledgement to all those who have shown confidence and trust in the Cyprus economy.

Indeed, the flow of foreign direct investment in our economy over the past few years, has been instrumental in keeping Cyprus firmly on a path of solid economic growth. And it has been a major objective of our policy to create a favourable economic environment, offering stability and certainly, and in this way supporting business and investment activity across the sectors. 

Restoring the soundness of public finances, remaining committed to the policy of balanced budgets, supporting the healing-process of our banking sector, promoting much needed reforms, introducing incentives  and engaging in an effort to broaden the productive base of our economy have all been part of this effort which has seen our economy becoming one of the fasted growing in the eurozone.

We expect the strong growth momentum to be maintained over the next few years, we expect conditions of full employment to be established by 2020 and we know that in this way, through jobs and opportunities, we shall be able to ensure social cohesion and the well being of our fellow citizens.   

At the same time, and despite our confidence and optimism, we know that we should guard against complacency. We must remain disciplined, and we must never go back to the false practices of the past. We know that there is more which needs to be done. And we should realize that maintaining the competitive edge of our economy requires a never-ending reform effort. In fact, I call upon all stakeholders to join forces in supporting the ambitious reform agenda which our government has drafted and is implementing. Reforming the Judicial system, the Local Government, the Public Administration, further supporting Higher Education, Research and Innovation, investing more in technology, should be a common effort.

In short, we should remain ambitious; determined to lift Cyprus even higher.  

At this point, allow me to offer a public praise to Invest Cyprus, the Cyprus Investment Promotion Agency who are the organisers of tonight’s event, together with Gold magazine. Invest Cyprus is the government’s dedicated partner responsible for attracting and facilitating Foreign Direct Investment and its work has been instrumental in enhancing our country’s international image, promoting and establishing Cyprus as a world-class investment destination. Invest Cyprus also acts as a trusted advisor to the government, in all matters related to business and investment. And for this I would like to thank the Chairman Michael Michael, the Board, the management and the dedicated team of CIPA.

I would also like to thank the co-organisers and all the sponsors for their kind support for tonight’s event.

And. concluding, this brings me to the real protagonists of the evening. The representatives of our business community. And especially the foreign investors who have shown their trust in Cyprus and have become key players in this new promising chapter of the Cyprus economy.

I would like to thank you all for your efforts and for believing in Cyprus. And I would like to assure you that my government will continue doing whatever is necessary to maintain a favourable economic environment and to offer its support.

Allow me also to express my warmest congratulations to those selected for the 2019 investment awards.

Thank you all for attending this event. Enjoy the evening.