Cyprus has announced significant privatisation plans in an effort to stabilise its finances and bring increased FDI into the country. Designated areas for privatisation include the incumbent telecommunications utility CYTA, which has leading market shares in every segment in which it operates.

The Electricity Authority of Cyprus, the National Lottery, Cyprus Airways' trademarks and logos, and real estate – a combination of land assets and existing residences in the Cyprus mountain range as well as 38 plots around the country requiring development – are also among the entities earmarked to undergo the transition, though it will take time. “We’ll only launch the process once work has been done on the ground to ensure a smooth process for investors,” said Constantinos Herodotou, Cyprus’s commissioner for privatisations.