The Cabinet has approved the establishment of a National Mechanism for the Control of Foreign Direct Investments, with the main goal of protecting national security and public order.
This is, as stated at the beginning of the Cabinet’s meeting by the President of the Republic, Nikos Christodoulides, a particularly important decision, an institutional reform, within the context of the importance that the Government attaches to upgrading the credibility and reputation of our country internationally.
According to President Christodoulides, this is an institutional change that strengthens the country’s protective shield, without closing the door to reliable investments, “which we are all working to bring to our country.”
As Nikos Christodoulides explained, with this decision, Cyprus becomes part of a European investment framework that is once again based on transparency, strategic assessment and the protection of critical infrastructure.
The new bill replaces the original one submitted by the previous Government in 2022. It was discussed in Parliament in 2024, some objections were expressed, extensive consultation took place with all stakeholders, and substantial improvements were made, which were anticipated to be approved by the Cabinet.
“Decisions for this Mechanism will be made in a timely manner and always within the framework of transparency, essential for the reliable and quality investments we want in our country,” the President of the Republic emphasised.
(Source: InBusinessNews)
