The Cyprus Investment Promotion Agency (Invest Cyprus) and the Cyprus Stock Exchange (CSE) signed on Friday a Memorandum of Understanding (MoU) that solidifies their collaboration to attract investments to Cyprus. The MoU was signed by Marios Tannousis, CEO of Invest Cyprus, and  Nikos Tripatsas, Deputy General Director of CSE.

According to a press release, this MoU establishes the foundation for initiatives aimed at enhancing the competitiveness of financial services on an international level, elevating Cyprus's position as an investment hub.

The agreement places particular emphasis on the exchange of expertise and information within the framework of the mutual mission of attracting new investments to Cyprus.

It also outlines a series of mutually beneficial actions and collaborations, integrated into the growing internationalization of financial services and the corresponding need for adjustments and coordination of the relevant activities of the two organizations. Under this agreement, the two organizations will work closely together to create a competitive business platform based on the expertise and advantages offered by the Cyprus Stock Exchange (CSE), thereby supporting economic development.

It also says that both organizations already demonstrate a successful level of collaboration, driven by the multifaceted and structured efforts of Invest Cyprus to attract new investments to Cyprus, with notably high success rates in recent years, especially in the technology sector.

On the other hand, the CSE, as a key driver of economic and corporate development, can be utilized more effectively within this context by businesses, significantly contributing to this effort through its markets, products, and services, along with the advantages and unique characteristics that the Stock Exchange provides.

“This memorandum is another step towards strengthening Cyprus's position in the global investment market. Together with the CSE, we are proceeding with a common strategy that will benefit our country by bringing high value-added investments to Cyprus, promoting innovation and enhancing employment.”, Tannousis said.

Through this agreement, the two organizations commit to regular cooperation to ensure that Cyprus remains an attractive, stable, and premier investment destination for investors and businesses, the press release concludes.