Invest Cyprus participated in the Annual Investment Meeting 2024 in Abu Dhabi to promote Cyprus as an investment destination and gateway to the EU. The delegation, led by CEO Marios Tannousis, focused on attracting investments, creating job opportunities, and strengthening the Cypriot economy. They also visited Kuwait to discuss investment opportunities and challenges with high-profile officials.
President Nikos Christodoulides stated that the construction sector, supported by the Cyprus Property Developers Association (LBDA), plays a vital role in attracting investments, promoting entrepreneurship, and positioning Cyprus as an investment destination.
Marios Tannousis is the CEO of Invest Cyprus, focusing on attracting and facilitating Foreign Direct Investment (FDI) in Cyprus. Cyprus has committed to spending €500 million by 2026 to combat climate change and foster the green transition. Cyprus aims to become the best place in Europe to live, work, and do business by transitioning towards a renewable energy system and implementing Environmental, Social, and Governance (ESG) criteria. The country is strategically positioned to help combat climate change in the Middle East and North Africa regions. Cyprus is working towards becoming a leader in sustainability and developing a circular zero-waste economy.
Finance Secretary Ralph Recto is pushing for amendments to the CREATE Act to attract investments to the Philippines. The law has already reduced the corporate income tax rate to 25% and proposed changes include further reducing it to 20% for certain corporations. The goal is to enhance the business climate, generate more jobs, and lift millions of Filipinos out of poverty by 2028.