According to Andreas Yiasemides, president of the Cyprus Investment Funds Association (CIFA), Cyprus has been attracting a lot of interest from foreign investors, particularly from fund managers and investment funds, as it solidifies its position as a top investment destination in Eastern Europe and the Middle East.
Recent trips by Yiasemides to the US and Italy allowed him to attend a number of conferences with an investing theme and network with influential people in the industry.
He discussed Cyprus’ benefits as a place for investment money at these talks, citing the nation’s strong economic and legal system, advantageous position, and accessibility of a highly qualified labour force.
Yiasemides revealed that foreign investors from the United States and Italy expressed a strong interest in Cyprus during the discussions in an interview with a local publication named Phileleutheros.
Foreign investors have shown a great interest in the Cypriot proposition, and he expressed optimism that good news about new investments and business operations in Cyprus would soon surface.
According to Yiasemides, during the interview, “the potential influx of additional investment funds and managers is expected to have a significant impact on the country’s economy, leading to the creation of new specialised job opportunities, available investment capital, and expertise.”
Another positive news is that Cyprus will host the annual conference of the International Investment Funds Association (IIFA) in October.
With members from 40 nations, including the United States, Canada, India, Japan, Korea, and EU member states, the IIFA is a global organisation for investment funds.
Cyprus has been represented in the IIFA since 2019 by CIFA, which overcame significant opposition from nations with higher investment volumes to win the majority vote to host the 36th conference.
With more than $70 trillion in assets under management among its members, IIFA is a key player in promoting communication on important global investment issues.
Participants and speakers have already expressed a lot of interest in the upcoming conference, including well-known individuals like Eric Pan, CEO and President of the American Investment Company Institute, Chris Cummings, CEO of The Investment Association, and Verena Ross, President of the European Securities and Markets Authority (ESMA).
Meanwhile, Cyprus further cemented its position as a desirable investment location in a recent announcement by the Cyprus Securities and Exchange Commission (CySEC), which was reflected in the expansion of its local fund management industry.
The assets under control of Cypriot Investment Funds totaled €10.7 billion as of the end of March 2023, an increase of 12.6% from €9.5 billion at the end of 2022.
Cyprus is a promising hub for foreign investors and fund managers wishing to take advantage of opportunities in Eastern Europe and the Middle East due to its robust investment sector and attractive economic and regulatory climate.
As Cyprus continues to draw global attention, experts predict that it will further strengthen its position as a leading investment destination in the region.
