The Cyprus Land and Building Developers Association (CPDA) has announced its full support for a revised bill that will establish a national mechanism for screening foreign direct investments (FDI). The association described the legislation as a crucial step towards enhancing transparency, boosting credibility, and aligning Cyprus with European standards.
A Framework for Transparency and Trust
In a statement, the CPDA emphasized the importance of creating a modern and clear framework that can safeguard national security and public order without harming the country’s attractiveness as an investment destination.
The developers argue that “the adoption of clear and transparent procedures is a fundamental prerequisite for building the trust of foreign investors” and for further positioning Cyprus as a reliable and modern investment hub.
Enhancing Competitiveness and Attracting Quality Investment
Mersina Isidore, the Director General of the CPDA, stated that the organization, which represents one of the key sectors of the Cypriot economy, fully supports any initiative that enhances the competitiveness of Cyprus.
The association believes that attracting high-quality investments has always been the “ultimate goal,” as it consistently contributes to the development of the Cypriot economy and the broader progress of society.
Call for Proper Implementation
While endorsing the bill, the CPDA noted that it is closely monitoring the investment environment and stressed that the new framework must be implemented in a way that guarantees transparency and reliability.
The statement affirmed the association’s commitment to participating “actively and constructively” in the public dialogue to help shape a comprehensive and effective institutional framework for foreign investment.
Source: Cyprus Property News