Cyprus to attract investment top 20 in FDI Performance.

Sep 30, 2022 | Cyprus Economy

An announcement by Invest Cyprus states that this is the most significant increase recorded in this year’s Index. This is a critical reflection of the performance of the efforts of the government and Invest Cyprus and bears the stamp of one of the most reliable and internationally recognised platforms for measuring foreign direct investment. 

This index ranks countries according to the foreign direct investment they attract, in proportion to the size of their economy. The significant increase in foreign investment, especially related to new projects, is vital for Cyprus economy. This performance is also reflected in the strong recovery, of 5.5% GDP, recorded in 2021. 

In addition, Cyprus is included by FDI Intelligence in the top 10 countries that stand out for the recovery of investments after the pandemic. Specifically, foreign direct investment in Cyprus recorded an increase of 150% in the first half of 2022 compared to the corresponding period of 2019. The increase in investment in software and information technology (IT) is also impressive, which reaches 600% in the first half of 2022 compared to 2019, which confirms the efforts to promote the country as a rising technology hub. 

Commenting on the findings, the president of Invest Cyprus, Evgenios Evgeniou, said that “At a  difficult time, in the midst of a pandemic, Cyprus managed in 2021 to attract a significant number of investments, which contributed catalytically to the rapid recovery of the economy. Taking advantage of the new government incentives, we are intensifying our efforts to attract highly qualified international companies, which will contribute to further enriching our country’s economic model,” he added.

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