Invest Cyprus recently hosted a roundtable discussion with Indian business leaders to promote bilateral relations and provide aftercare services to support post-investment activities.
The event was held in collaboration with the Deputy Minister of Research, Innovation and Digital Policy, Nikodemos Damianou, and the High Commissioner of India to Cyprus Shri Manish.
According to Evgenios Evgeniou, Chairman of Invest Cyprus, “the significant cooperation between Cyprus and India, especially within the technology and services sectors” was emphasised during the meeting.
He added that “Invest Cyprus showcased the benefits of Cyprus as an investment hub, particularly for Indian enterprises” and that they “engaged in discussions with investors on ways to enhance the country’s appeal.”
On their part, Indian business leaders offered insights into improving the local business environment and shared their positive experiences from operating in the country.
In his speech, Nikodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy, stressed the role of Invest Cyprus in facilitating investments through its ongoing support for investors throughout their investment journey, with a special focus on aftercare services.
He stated that Cyprus’ advantages as an attractive investment destination stem from its “strategic location, legal framework, tax incentives, and advanced technological and innovation infrastructure.”
He also highlighted that “the Information and Communication Technology (ICT) sector, which accounts for more than 10 per cent of the country’s GDP,” plays a key role in the economy. Damianou further noted that “Cyprus hosts major multinational tech companies and startup communities.”
Additionally, he said that “the government’s reforms aimed at enhancing the country’s competitiveness,” such as revising the tax system and introducing new tools to attract highly skilled foreign workers, are crucial.
The High Commissioner of India to Cyprus, Shri Manish, emphasised the importance of collaboration between Indian tech companies and Cyprus, noting that “Cyprus is an ideal partner for Indian businesses seeking to expand into Europe, thanks to its advanced technological infrastructure and investor-friendly environment.”
He also pointed out areas for improvement, such as “the need for an agreed social security system for Indian professionals working in Cyprus to secure their contributions,” as well as the facilitation of “migration and mobility for skilled professionals between the two countries.”
He mentioned the collaboration on the “development of digital platforms to accelerate Cyprus’ digital transition” and the promotion of “joint research initiatives in fields such as cybersecurity, artificial intelligence, and big data.”
Representing the Business Facilitation Unit from the Ministry of Energy, Commerce and Industry, Katerina Solomou shared insights on how the Ministry supports investors and businesses.
“Comprehensive services and resources promote a thriving environment for growth,” she stated.
“Cyprus and India share a long-standing relationship, particularly in the areas of technology and investments, with Cyprus being one of the top ten foreign investors in India,” the agency said in a statement.
“Invest Cyprus continues to work on expanding bilateral economic relations, placing emphasis on collaboration with Indian investors and the continuous improvement of its aftercare services,” it concluded.
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