The members of the Cypriot delegation that participated in the Mediterranean Business Forum on Investment for Stability and Pluralistic Development left New York with tangible prospects for attracting investment funds from the USA. Cyprus-Greece-Israel “, organized by the Economist.
The forum organized a large number of bilateral meetings with investment banks (including JP Morgan, which has made a large investment in Greece through the acquisition of Viva Wallet) and investment funds, which showed a tangible interest in using Cyprus as a basis for investing in the eurozone, specifically to Greece.
“Greece offers many investment opportunities, but the structures to make these investments can be created in Cyprus. The response was positive, it was something we did not expect “, said to” P “the president of CIFA, Andreas Giasemidis, who participated in the work of the forum.
In fact, representatives of American investment funds will be in Cyprus in November to participate in the annual Fund Forum organized by CIFA.
Cyprus offers the right infrastructure and the right environment, while the legal framework has been developed and updated for investments, Mr. Giasemidis noted during the work of “New York & # 8211; Mediterranean Business Summit ».
The Governor of the Central Bank of Cyprus, Konstantinos Herodotou, and the Chairman of the Cyprus Securities and Exchange Commission, George Theocharidis, also went to New York, where they had the opportunity to explain the operating environment in Cyprus. On the positive side, difficult issues related to money laundering and the passport program, issues that no longer concern Americans, are gone.
The PwC CEO's report is no coincidence. Of Cyprus, Filippou Sosilou, that the Cypriot economy is looking to the West.
Mr. Herodotus also gave answers about the connection of Cyprus with Russia, stating that the total loans to Russian entities are less than 1% and deposits related to Russia are less than 5% of total deposits, so dependence is minimal.
The CB commander added that the main impact of the war in Ukraine will be seen in law and accounting firms, as 16% of all services were aimed at Russian clients, and it may take longer for the sector to adjust.
Mr Theocharidis referred to the huge increase in the number of regulated by the Hellenic Capital Market Commission, with more than 800 entities today and approximately € 11 billion in assets under management.
