Media Releases

In this section you will find CIPA's media releases.

CIPA Among Top 25 IPAs IN FIAS GIPB 2009 Report - Jun 25, 2009

In June 2009, the Cyprus Investment Promotion Agency (CIPA) achieved a top 25 ranking in the Foreign Investment Advisory Service (FIAS) Global Investment Promotion Benchmarking (GIPB) 2009 survey that evaluated 213 investment promotion agencies worldwide. FIAS, as the World Bank Group’s Investment Climate Advisory Service, conducted GIPB 2009, the second in a series of confidential biennial reviews investigating the investment promotion capabilities of investment promotion intermediaries (IPIs) worldwide. An Investment Promotion Agency ( IPA) is considered an investment promotion intermediary. GIPB 2009 assessed 181 national IPIs and 32 sub-national IPIs globally. Independent FIAS consultants appraised IPI websites and the ability of IPIs to manage and respond to investment inquiries based on two contrived investment projects. According to the FIAS GIPB 2009 report, CIPA’s overall score “represents a strong performance”. CIPA’s achievement is ...

Pipe Tech World Summit 2009 - Jun 17, 2009

Cyprus hosts international personalities to discuss technical excellence in pipeline construction The prestigious Pipe Tech World Summit is hosted this year in Limassol, Cyprus. The Summit, which ends its sessions today (Wednesday, 17 June 2009), has been for years attracting international personalities and its aim is to convey technical excellence and innovative ideas from pipeline construction through to maintenance. Key speakers cover pipeline maintenance and construction both offshore and onshore, while case-studies of ongoing, planned and completed projects include the Trans Saharan Pipeline, the IGI Poseidon project (Caucasus-Greece-Italy), the Uruco-Manaus gas pipeline and the BTC pipeline (Baku-Tbilisi-Ceyhan). Minister of Commerce and Industry, Mr. Antonis Paschalides addressed the summit. Cyprus’ positive investor environment was the main reason behind its selection for hosting this year’s event. As mentioned by Mr. Soteris ...

World Bank – Doing Business Report team in town - May 11, 2009

With the initiative of the Cyprus Investment Promotion Agency, the World Bank Doing Business Report team will be in Cyprus the week of May 11th to conduct meetings as part of the process of ranking Cyprus for the first time in the Doing Business Report. The report ranks countries across ten criteria. The index is calculated as the ranking on the simple average of country percentile rankings on each of the 10 criteria: 1) Starting a Business, 2) Dealing with Licenses, 3) Employing Workers, 4) Registering Property, 5) Getting Credit, 6) Protecting Investors, 7) Paying Taxes, 8) Trading Across Borders, 9) Enforcing Contracts and 10) Closing a Business. Potential investors use this report to compare countries on their regulatory environment for business, assess the impact of laws and regulations on business activity and make informed decisions regarding policy reform and private investment. According to EconomyWatch.com, the publication of the Doing Business ...

The Government supports the Cyprus Investment Promotion Agency - Apr 29, 2009

The Key Note speaker of the Assembly, and Chairman of the Board of Directors, Mr. Phidias Pilides, referred to the global financial crisis, the challenge it poses to attracting Foreign Direct Investment and the intensifying competition among investment destinations. Mr. Pilides pointed out that: ‘As the Official Organization, now is the time to intensify and multiply our activities to attract foreign investments, in coordination and collaboration with the public and private sector’. Mr. Pilides outlined the three-pronged mission of the organization: ‘To promote Cyprus as an attractive investment destination to the strategic priority economy sectors, as defined in the Government’s Strategic Development Plan. To advocate reforms that will improve and enhance the regulatory framework as well as the business infrastructure in Cyprus to do business in an easier manner and To provide after care support to new and existing investors.