investment cooperation — investment cooperation — Cyprus’ two main professional bodies for international business, the Cyprus Fiduciary Association (CYFA) and the Cyprus International Businesses’ Association (CIBA), have taken a significant step towards enhancing the investment landscape on the island. This week, they signed a memorandum of understanding (MoU) aimed at deepening cooperation on pivotal issues affecting the country’s business environment.
Photo: cyprus-mail.com
Investment cooperation: Strengthening Business Competitiveness
The agreement, as stated by CIBA, focuses on supporting the growth of the management services sector while reinforcing the competitiveness of international companies operating in Cyprus. By fostering a collaborative spirit, both organisations aim to boost Cyprus’ status as an appealing destination for foreign and domestic investors alike.
Collaboration and Synergies
This initiative follows a recent meeting between key figures from Invest Cyprus and CIBA, including chairman Evgenios Evgeniou, CEO Marios Tannousis, CIBA president Vassilios Demetriades, and general manager Valentinos Steliou. During their discussions, the parties highlighted the necessity for specific synergies and close collaboration, which the new MoU is set to facilitate.
Feedback-Driven Initiatives
Both CYFA and CIBA expressed a commitment to aligning their visions for the future. They plan to translate investor feedback into actionable initiatives through joint efforts and structured knowledge-sharing. This approach is intended to enhance Cyprus’ competitiveness and ultimately support job-creating investments.
A Framework for Joint Efforts
Under the newly established cooperation framework, CYFA and CIBA will engage in exchanging information, participating in joint working groups, and undertaking initiatives both domestically and internationally. This collaboration will also include a joint assessment of policy issues and proposals that influence the broader business landscape.
Signing of the Memorandum
The MoU was officially signed by CYFA president Costas Christoforou and general director Christophoros Ioannou, along with CIBA’s Demetriades and Steliou, marking a pivotal moment in the effort to bolster Cyprus’ position as a hub for international business.
