The Cyprus Investment Promotion Agency (CIPA) welcomes the new year with a new strategy for 2017-2020, a renewed profile and a dynamic social media presence.
The Agency briefed Cypriot media representatives on its planned actions and initiatives during a working breakfast yesterday in Nicosia.
The Director General, Mrs Natasa Pilides, presented the Agency’s strategic plan for 2017-2020 and analysed the developments in the international economic scene, the impressive recovery of the Cyprus economy and the positive forecasts for the future. These forecasts, she said, created the need to readjust the Agency’s priorities and redesign its strategy, in order to capitalise on the opportunities that arise. Mrs Pilides also referred to the rejuvenated investor interest noted in the past few years, which translates into substantial investments in a wide range of economic sectors. Special reference was made to the targeted campaign to attract UK-based companies ahead of Brexit, but also the effort to further develop sectors with potential, such as innovation, investment funds, the filming industry and education, through promoting the necessary reforms and through a targeted promotional effort in cooperation with other stakeholders.
The Agency also presented its rebranding strategy and new logo, and announced that its new brand name “Invest Cyprus”, which until recently was only used abroad, will henceforth be used locally as well.
Mrs Pilides further referred to the Agency’s new digital strategy, which aims to promote Cyprus abroad in a more targeted way, using online tools, channels and social media. Another objective, she said, is to use these networks to provide the media with information relating to investments in a more direct and reliable way.
Besides efforts to attract and provide all types of support to potential foreign investors, the Agency’s new strategy also focuses on boosting ties with existing foreign investors. This is made possible by establishing regular communication to enable the discussion and resolution of the problems they are facing, by arranging meetings for the exchange of views with other stakeholders; and by organising appreciation events.
Concluding, Mrs Pilides referred to a series of reforms in which the Agency contributed significantly, with the most recent being the preparation of the Programme for the Promotion of the Filming Industry, as well as the establishment of a Supervision and Monitoring Committee for the Naturalisation Programmes, in which the Agency participates.
The new Chairman of the Board of Directors Mr Michalis Michael also attended the breakfast. In statements, Mr Michael highlighted the valuable role CIPA plays in Cyprus’ effort to take advantage of the new growth momentum that has been created. “The Agency’s primary objectives are to promote Cyprus’ comparative advantages as an investment destination and to contribute to the effort for structural reforms that will improve the business environment. CIPA’s new strategy and its targeted actions to make use of the opportunities that arise are steps in the right direction and serve the broader effort to boost the country’s growth potential.”
The media representatives were also briefed about the Agency’s new initiative “Invest Career”, which aims to match the increasing needs of companies to employ skilled human talent with professionals looking for employment opportunities in Cyprus. As Mrs Pilides explained, the initiative is in its final stage of implementation and will soon be launched. She said the Agency’s aim is to attract high calibre professionals, and especially to repatriate Cypriots who were forced to seek employment abroad due to the lack of opportunities in previous years. At present, the Agency is in consultation with big companies while focus groups are also being held in Nicosia and Limassol for feedback on the platform’s operation.