The President of Cyprus Investment Funds Association (CIFA), Andreas Yiasemides, considers the 36th annual conference of the International Investment Funds Association (IIFA) in Cyprus as a vote of confidence in the Cypriot ecosystem of investment funds.

Speaking to CNA, on the occasion of the opening of the two-day IIFA international conference, which is being held without the presence of the media, Yiasemides said that Cyprus has developed into a dynamic hub for investment funds, registering a rapid increase in both numbers and value of investment funds.

This rapid increase, he continued, makes Cyprus one of the fastest growing centers of investment funds in the European Union. He added that Cyprus offers a harmonized regulatory framework, competitive costs ideal for small and medium capital, an efficient tax regime and an extensive network of double taxation avoidance.

He also pointed out that Cyprus' strategic geographical position works as a bridge to Europe with key markets in the Middle East, North Africa and Asia, allowing fund managers to access a wide range of investment opportunities.

Despite the challenges in the region with the irregular situation in neighboring Israel, Yiasemides expressed the opinion that there is no cause for concern for Cyprus, which remains a "safe investment destination."

He also expressed his satisfaction over the IIFA international conference, which is held in Cyprus, noting that the presence of representatives of the largest Associations of Investment Funds and Managers is a vote of confidence in the Cypriot ecosystem of investment funds.

The main speakers during the first day of the conference included the President of the CySEC, Dr. George Theocharides and Nobel Laureate Professor Christopher Pissarides, who presented their analysis over issues of the global economy and international relations, their impact on business, as well as the trends for 2024 in the global economy.