A banking crisis and the negative headlines that came with it shook Cyprus earlier in 2013. However, the country has displayed impressive resilience, with its business environment remaining stable and its inward investment record actually improving, as Courtney Fingar discovers.
Cyprus
Originally published with the December 2013/January 2014 issue of fDi Magazine
Sponsored by the Cyprus Investment Promotion Agency
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Cyprus eyes energy hub status
With its deep-water natural gas resources and potential to be a major provider of solar power, Cyprus is positioning itself as an energy hub within the eastern Mediterranean.
Cyprus retains stellar reputation for professional services
Cyprus remains rightly proud of the global reputation of its professional services as it continues to be one of the leading jurisdictions for structuring investments into Europe and emerging markets at a competitive cost.
Cyprus finance sector back on path to stability
Cyprus has turned a corner after its recent banking crisis, say observers, with investor confidence gradually returning to the finance sector. And the country’s emerging fund industry and foreign exchange trading are providing a potential draw for foreign investors.
Cyprus stays ahead of the game to maintain shipping hub status
Cyprus has a global reputation for being a high-quality hub for the shipping industry. And its commitment to training its workforce in this sector and providing a stable and business-friendly tax regime mean that it is unlikely to lose its competitive edge any time soon.
Cyprus's healthy potential
Cyprus, already well known as a tourist destination, is now branching out in terms of the services it can offer travellers, from a casino and golf courses to medical tourism.
Cyprus's feel-good factor
While neighbouring countries descend into turmoil, Cyprus is busy moving on from its downturn, finding alternative markets for its real-estate sector and incentivising investment.
Cyprus thinks big with developments
When it comes to development ambitions, Cyprus is thinking big with plans for a casino resort, a science and technology park, hotels, shopping centres and new office space, plus the redevelopment of terminals at Larnaca and Paphos airports.
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