Invest Cyprus on Wednesday announced that it has concluded a successful mission to Saudi Arabia.
The mission, the agency said, will help facilitate future collaborations, supporting the country’s objective to increase foreign direct investment.
Specifically, Invest Cyprus travelled to Saudi Arabia to take part in the 28th World Investment Conference (WIC), organised by the World Association of Investment Promotion Agencies (WAIPA).
The conference, hosted in Riyadh by the Ministry of Investment of Saudi Arabia, brought together global policymakers, CEOs, and investment promotion agencies to share knowledge and explore strategies for driving sustainable global economic growth.
Invest Cyprus CEO Marios Tannousis represented the organisation at the conference.
“We are delighted with the outcomes of our mission to Saudi Arabia, which reflect our ongoing commitment to positioning Cyprus as a premier destination for foreign direct investment,” Tannousis said.
“The partnerships and discussions held over these days will undoubtedly pave the way for fruitful collaborations that align with Cyprus’ vision for sustainable economic growth,” he added.
At the event, Tannousis took part in a panel discussion titled “Informative advertising is persuasive: The art of investor engagement.”
The agency said that the session “highlighted the importance of transparency, trust, and tailored approaches in building strong investor relationships”.
It added that “Invest Cyprus also received special recognition for its significant contribution to the global FDI landscape“.
Tannousis also took part in the Steering Committee meeting and panel of the Regional Investment Promotion Agencies (SCRIPA), held under the WAIPA framework.
The event, led by Emmanuel Noutary, Director General of the Euro-Mediterranean Investment Network (ANIMA), focused on the theme “Fostering Regional Value Chains through Cooperation within IPA Networks.”
The Invest Cyprus CEO also had a “constructive meeting” with the Assistant Minister of Investment in Saudi Arabia and CEO of Invest in Saudi, H.E. Mr. Ibrahim Almubarak, to “further enhance collaboration and foreign direct investment”.
Beyond the conference, the delegation also held a series of targeted meetings with a number of Saudi investors, investment groups, and key stakeholders. This effort was supported by Alexis Phedonos, the Cypriot ambassador to Saudi Arabia.
“These meetings emphasised Cyprus’ unique advantages as a business and investment hub in the EuroMed region, including its robust legal framework, access to EU markets, and attractive incentives for foreign investors,” the agency said in its announcemet.
A highlight of the mission, the agency continued, was the signing of a Memorandum of Understanding (MoU) with Invest in Minas, the investment promotion agency of Minas Gerais, one of the wealthiest states in Brazil.
The agency said that “the agreement establishes a foundation for bilateral collaboration in trade, business, and investment, further solidifying Cyprus’ role as a strategic gateway for international partnerships“.
“As a proud member of WAIPA, Invest Cyprus remains dedicated to fostering international partnerships, driving economic diversification, and showcasing the strategic advantages that make Cyprus an ideal hub for global business and investment,” the agency concluded.
