The most important geopolitical and investment developments in the Eastern Mediterranean region were presented during the Economist’s Annual New York – Eastern Mediterranean Business Summit, which took place on July 10, 2023, in New York, with PwC Cyprus as the platinum sponsor.
Prominent figures from the political and business scene of the USA, Cyprus, Greece, and Israel participated in the Conference, which this year was titled: “A New Momentum for Geopolitics and Investment – Cyprus-Greece-Israel”. Among them were the President of the Republic, Nikos Christodoulides (with an audio-visual message), the Minister of Foreign Affairs, Constantinos Kombos, and the Governor of the Central Bank of Cyprus, Constantinos Herodotou.
The CEO of PwC Cyprus, Philippos Soseilos, during his intervention in the discussion titled: “Investing for resilient growth in the Eastern Mediterranean: In need of an ambitious strategy”, emphasised the great prospects that the Eastern Mediterranean region holds as an investment destination and distinctly Cyprus. Mr Soseilos referred, among other things, to the enduring resilience of the Cypriot economy, to the prospects for sustainable development created by the “Vision 2035” Plan, and to the great growth that the country is registering in the field of attracting technology companies, aiming to become a regional technology hub.
Moreover, Mr Soseilos highlighted the significant investment opportunities that exist in Cyprus for American companies, many of which have invested in recent years in various sectors, including Banking and Finance, Real Estate, Tourism, Energy, and Technology. In the context of the conference, he had meetings with leading executives of American investment and financial organisations.
Andreas Yiasemides, Clients & Markets Leader and Chairman of the Cyprus Investment Funds Association (CIFA) who also participated in the summit as a speaker was referred to the significant growth of the Investment Funds sector in Cyprus and the fact that Cyprus-based Investment Funds can be ideal structures for investment in Cyprus and the wider region.