Cyprus Strengthens Foreign Investment Opportunities with Successful Saudi Arabia Mission

Invest Cyprus announced on Wednesday that it successfully concluded a mission to Saudi Arabia, marking a significant step in bolstering the country’s foreign direct investment (FDI) prospects.

The delegation from Invest Cyprus participated in the 28th World Investment Conference (WIC), hosted by the Ministry of Investment of Saudi Arabia in Riyadh. Organized by the World Association of Investment Promotion Agencies (WAIPA), the event brought together global policymakers, CEOs, and investment promotion agencies to exchange insights and develop strategies for fostering sustainable global economic growth.

Marios Tannousis, CEO of Invest Cyprus, represented the organization at the conference.

Reflecting on the mission, Tannousis said, “We are delighted with the outcomes of our mission to Saudi Arabia, which reflect our ongoing commitment to positioning Cyprus as a premier destination for foreign direct investment.” He further added, “The partnerships and discussions held over these days will undoubtedly pave the way for fruitful collaborations that align with Cyprus’ vision for sustainable economic growth.”

As part of the event, Tannousis participated in a panel discussion titled “Informative advertising is persuasive: The art of investor engagement.” The session underscored the critical roles of transparency, trust, and customized approaches in establishing strong investor relationships.

Invest Cyprus highlighted that it received special recognition at the conference for its “significant contribution to the global FDI landscape.”

Additionally, Tannousis joined the Steering Committee meeting and a panel discussion for the Regional Investment Promotion Agencies (SCRIPA) under WAIPA’s framework. This session, led by Emmanuel Noutary, Director General of the Euro-Mediterranean Investment Network (ANIMA), revolved around the theme “Fostering Regional Value Chains through Cooperation within IPA Networks.”

The Invest Cyprus CEO also held a productive meeting with the Assistant Minister of Investment in Saudi Arabia and CEO of Invest in Saudi, H.E. Ibrahim Almubarak. The meeting aimed to enhance collaboration and further develop foreign direct investment initiatives between the two nations.

Beyond the main conference, the Cypriot delegation conducted a series of targeted meetings with Saudi investors, investment groups, and key stakeholders. These efforts were supported by Alexis Phedonos, the Cypriot ambassador to Saudi Arabia. “These meetings emphasised Cyprus’ unique advantages as a business and investment hub in the EuroMed region, including its robust legal framework, access to EU markets, and attractive incentives for foreign investors,” Invest Cyprus stated in its announcement.

A notable highlight of the mission was the signing of a Memorandum of Understanding (MoU) between Invest Cyprus and Invest in Minas, the investment promotion agency of Minas Gerais, one of Brazil’s wealthiest states. This agreement aims to establish a foundation for bilateral cooperation in trade, business, and investment, further solidifying Cyprus’ role as a strategic gateway for international partnerships.

“As a proud member of WAIPA, Invest Cyprus remains dedicated to fostering international partnerships, driving economic diversification, and showcasing the strategic advantages that make Cyprus an ideal hub for global business and investment,” the agency concluded. 

By fLEXI tEAM