Cyprus President Affirms Commitment to Resilient Economy at IIFA Gala Dinner
President Nikos Christodoulides of Cyprus has reaffirmed the government's dedication to constructing a resilient economy centered on modernity, justice, transparency, and the green and digital transition. He made these comments during his speech at the International Investment Funds Association (IIFA) Gala Dinner.
The 36th Annual International Investment Funds Association (IIFA) Conference began in Limassol, Cyprus, welcoming delegates from major funds and asset managers globally. Christodoulides emphasized the IIFA's crucial role in the global investment fund industry and its contributions to creating a robust regulatory framework in Cyprus, transforming the investment landscape and promoting the country as an ideal investment destination.
President Christodoulides highlighted the significance of hosting the International IIFA Conference for the first time in Cyprus. He underscored the country's potential for significant international connections and collaborations, even during challenging times. Cyprus has experienced positive developments in strengthening its economic landscape, with recent upgrades to investment grade by Moody's after 12 years. This upgrade has translated into increased investment prospects, job creation, and boosting the domestic labor market.
Christodoulides explained that the government's "human-centric governance program" aims to ensure a resilient economy founded on transparency, green and digital transformation, modernity, justice, and participatory governance. This aligns with the Vision 2035 program, which seeks to make Cyprus one of the world's best places to live, work, and operate in.
At the same event, Andreas Yiasemides, President of the Cyprus Investment Funds Association (CIFA), hailed the decision to hold the conference in Limassol, describing it as a vote of confidence in Cyprus' investment ecosystem. He highlighted Cyprus' rapid emergence as one of Europe's fastest-growing investment fund hubs, attributing this success to a harmonized regulatory framework, competitive costs suitable for SMEs, an efficient tax regime, and an extensive network of double taxation avoidance agreements.
Yiasemides expressed assurance about Cyprus' safety as an investment destination, even amid regional challenges, such as the volatile situation in neighboring Israel. The country continues to attract investors and bolster its position as a significant player in the global investment fund industry. By fLEXI tEAM