Cyprus Achieves 18% Investment Growth Since Pre-Pandemic, Reports EIB

The European Investment Bank (EIB) Group released its latest investment survey on Wednesday, highlighting significant growth and resilience within the Cypriot economy.

According to the survey, Cyprus has experienced an 18 per cent increase in real investment levels since before the pandemic, a rise supported by Recovery and Resilience Facility (RRF) funds.

The survey also revealed that 81 per cent of Cypriot companies are involved in global trade, a figure that far exceeds the EU average of 63 per cent. Cypriot companies reported higher satisfaction with their investment activities compared to businesses in other EU countries.

The report highlighted a notable increase in gender diversity, with a higher proportion of women holding senior management positions in Cyprus compared to the EU average.

Despite these positive trends, the survey identified key challenges facing Cypriot companies, particularly a shortage of skilled staff and limited access to sufficient financing.

These issues were found to be more acute in Cyprus than in other EU member states.

Kyriacos Kakouris, Vice President of the European Investment Bank, commented on the survey results, stating, “The EIB investment survey emphasises the remarkable resilience and outward-looking nature of Cypriot businesses.”

Kakouris further remarked on Cyprus’ strong performance in global trade and investment growth, adding, “With investment levels significantly above pre-pandemic levels and with top integration in global trade, Cyprus is well positioned to achieve sustainable growth.”

Expressing optimism for the future, Kakouris noted, “The ongoing focus on modernisation and innovation by Cypriot companies would foster long-term prosperity and competitiveness.”

The findings of the survey will be a central topic of discussion at the EIB Group’s annual forum, scheduled to take place in Luxembourg from March 5 to 7. The event will gather leaders from politics, business, and finance to explore European investment strategies.

Among the key topics slated for discussion at the forum are industry decarbonisation, artificial intelligence, and the capital markets union. The event will be held under the theme ‘Investing in a more sustainable and secure Europe.’ 

By fLEXI tEAM