In the 18th place of the global ranking of the 7th Greenfield FDI Performance Index, by FDI Intelligence, for 2021 is Cyprus, which registers an increase of 50 places compared to 2020 in attracting foreign direct investment.
An announcement from Invest Cyprus states that this is the biggest increase recorded in this year's Index. This fact is a very important 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 recognized platforms for measuring foreign direct investment.
This Index ranks countries taking into account the foreign direct investment they attract in proportion to the size of their economy. The significant increase in foreign investments and in particular those concerning new projects (Greenfield) is of great importance for the Cypriot economy. This performance is also reflected in the strong recovery, of the order of 5,5% of 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. In particular, foreign direct investments in Cyprus recorded an increase of 150% in the first half of 2022 compared to the corresponding period of 2019. The increase in investments in software and IT is also impressive, reaching 600 % in the first half of 2022 compared to 2019, confirming efforts to promote the country as an emerging technology hub.
Commenting on the findings, the President of Invest Cyprus, Evgenios Evgeniou, stated that "the Organization remains committed to the mission and the work it carries out to preserve, but much more to strengthen the potential to attract foreign investment in our country".
"In 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 specialized international companies, which will contribute to the further enrichment of our country's economic model," he added.
In addition, Invest Cyprus will participate in the 26th Annual World Investment Conference of the World Association of Investment Promotion Agencies (WAIPA), which will take place on September 12 – 15 in Geneva, Switzerland.
KYPE