Invest Cyprus Expands Economic Relations with India

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Invest Cyprus recently took part in the India Mediterranean Business Conclave 2024, reinforcing its efforts to position Cyprus as a leading destination for business and investment.

According to a press release, the event, held on September 6 in New Delhi, was co-organized by the Ministry of External Affairs of India and the Confederation of Indian Industry (CII). The conclave gathered business leaders and government officials from 28 countries, including Greece, France, Italy, Malta, Croatia, and Bulgaria.

In a key move to deepen ties with India, Invest Cyprus hosted an exclusive roundtable discussion on September 5, 2024, with a focus on the technology and services sectors. This session, which attracted notable Indian businesses, delved into the advantages of Cyprus as a business-friendly environment, its status as a growing tech hub, and its strategic role as a gateway to the European Union for companies looking to expand.

During the discussion, Deputy Minister of Research, Innovation, and Digital Policy Nicodemos Damianou spoke on the government’s vision for digitalization and innovation. He highlighted ongoing strategies to promote digital transformation and a research-driven economy, offering insights into future developments in the sector.

Chief Scientist of Cyprus, Demetris Skourides, also emphasized potential collaborations for Indian businesses with Cyprus Centers of Excellence, showcasing their achievements in translating research into commercial opportunities.

Cyprus High Commissioner to India, Evagoras Vryonides, actively participated in the roundtable, while Viraj Kulkarni, newly appointed Honorary Consul of Cyprus in Mumbai, played a vital role in facilitating the discussions.

Throughout the session, Marios Tannousis, CEO of Invest Cyprus, underscored Cyprus’s appeal by highlighting its favorable tax regime, skilled workforce, and commitment to building long-term business partnerships. He positioned Cyprus as a prime destination for Indian companies seeking opportunities for investment and expansion in Europe.

Source: CNA

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