Mr. Evgeniou said that Cyprus was ranked third worldwide in the recovery of foreign direct investment after the pandemic
A call to Cypriot businessmen to present ideas aimed at attracting foreign investment, which are in line with the priorities of the new development model, as recorded by the long-term strategy entitled “Vision 2035”, addressed the President of Invest Cyprus Evgenios Evgeniou from stage of the work of the Economist conference.
Speaking from the stage of the conference, Mr. Evgeniou mentioned that Cyprus was ranked third worldwide in the recovery of foreign direct investment after the pandemic, to emphasize however that this was not it should reassure us.
As he said, Cyprus' “recipe” for new sources of economic growth is the long-term strategy for the new growth model, established by the Economic and Competitiveness Council, “Vision 2035” and the Recovery and Resilience Plan.
“At Invest Cyprus, our priorities are aligned with the new development model and for this we prioritize sustainable projects, in priority sectors, with a focus on renewable energy, energy storage, health, hospitality and agriculture, projects that have the element of sustainability”.
Encouraging Cypriot businessmen to present ideas that are consistent with the new development model so that the organization can put them in touch with investors abroad, Mr. Evgeniou said that there are currently ten projects underway.
ECK: A more efficient framework for listed companies
For his part, the President of the Cyprus Capital Market Commission (CCM) Giorgos Theocharidis indicated the need to promote the efficiency of the European capital market so as to enhance transparency, liquidity and promote a proper environment for both domestic and foreign investors.
If we do this, we will increase investment flows and strengthen economic development within the EU, he stressed, adding that Cypriot Cypriot Cypriot Association, as a member of the European Capital Markets Union, participates in shaping the regulation for crowdfunding service providers (crowd funding).
He also referred to the discussions on the new regulation on European long-term investment funds (ELTIFs), but also on Fund Managers in Undertakings for Collective Investment in Transferable Securities and Alternative Investment Funds (UCITs, AIFs).
At the same time, Mr. Theocharidis pointed out the need to reform the institutional framework for listed companies, saying that this is important, since it can increase the number of companies listed on stock exchanges. He also referred to a report by the European Securities and Markets Authority (ESMA) from 2007 to 2021, according to which a 70% decrease in approved prospectuses is recorded, while a significant increase in companies leaving the stock exchanges is recorded, which is also observed in Cyprus Stock Exchange.
The ongoing negotiations at the European level should result in a more proportionate and more effective supervisory framework for issuers, facilitating their access to European capital markets, he said.