Cyprus continues to attract foreign investor interest

Cyprus has been gathering substantial attention from international investors, particularly from fund managers and investment funds, as it solidifies its position as a top investment destination in Eastern Europe and the Middle East, according to Andreas Yiasemides, president of the Cyprus Investment Funds Association (CIFA).

Yiasemides recently travelled to the United States and Italy, where he took part in numerous investment-focused conferences, allowing him to meet with key players in the investment sector.

During these meetings, he presented the advantages of Cyprus as a destination for investment funds, highlighting the robust economic and regulatory framework of the country, its strategic geographical location, and the availability of a highly skilled workforce.

Speaking to local outlet Phileleutheros, Yiasemides revealed that foreign investors from the United States and Italy showed keen interest in Cyprus during the meetings.

“Foreign investors have expressed strong interest in the Cypriot proposition, and I am optimistic that positive news regarding new investments and business ventures in Cyprus will emerge soon,” he said.

“The potential influx of additional investment funds and managers is expected to have a significant impact on the country’s economy, leading to the creation of new specialised job opportunities, available investment capital, and expertise,” Yiasemides added during the interview.

In another exciting development, Cyprus is set to host the International Investment Funds Association (IIFA) annual conference in October.

The IIFA is a global association for investment funds, boasting members from 40 countries, including the United States, Canada, India, Japan, Korea, and EU member states.

Cyprus has been represented in the IIFA since 2019 through CIFA, which successfully secured the majority vote to host the 36th conference, despite stiff competition from countries with larger investment volumes.

With the assets under management of IIFA members estimated to exceed $70 trillion, the association plays a crucial role in facilitating communication on critical investment matters globally.

The upcoming conference has already garnered significant interest from participants and speakers, including high-profile figures such as Verena Ross, President of the European Securities and Markets Authority (ESMA), Chris Cummings, CEO of The Investment Association, and Eric Pan, CEO and President of the American Investment Company Institute.

Meanwhile, in a recent announcement by the Cyprus Securities and Exchange Commission (CySEC), Cyprus further solidified its status as an attractive investment destination, something which was reflected in the growth of its domestic fund management sector.

As of the end of March 2023, the assets under management of Cypriot Investment Funds amounted to €10.7 billion, reflecting a 12.6 per cent increase from €9.5 billion at the end of 2022.

The steady growth in Cyprus’s investment sector, coupled with its favourable economic and regulatory environment, positions the country as a promising hub for international investors and fund managers looking to capitalise on opportunities in Eastern Europe and the Middle East.

As Cyprus continues to draw global attention, experts predict that it will further strengthen its position as a leading investment destination in the region.

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