President Nikos Christodoulides has concluded a successful series of meetings across the United States aimed at boosting the island’s profile as a reliable investment destination and leveraging its strategic advantages in key sectors, government spokesman Konstantinos Letymbiotis said.
The president’s New York meetings focused on the financial sector, with discussions held with international investment funds, banking institutions and financial firms, Letymbiotis told reporters.
Christodoulides highlighted Cyprus’s strong economic performance, pointing to a 3.4% growth rate—among the highest in the eurozone—with public debt reduced to 66% of GDP, a fiscal surplus of approximately 4%, and unemployment below 5%.
“These positive indicators, combined with the country’s upgrade to Category A by all international rating agencies and its stable, competitive tax and regulatory framework, were recognised by the president’s interlocutors as crucial factors enhancing confidence in Cyprus’s financial services sector,” Letymbiotis said.
In Houston, Texas, the president’s meetings centred on the energy sector, with discussions with executives from Chevron and Exxon confirming plans to accelerate the development of energy resources in Cyprus’s Exclusive Economic Zone (EEZ).
Letymbiotis described as “significant” Chevron’s plans to begin underwater surveys this summer for a pipeline from the “Aphrodite” gas field to Egypt, adding that synergies to expedite natural gas exploitation were being examined.
During his visit to San Francisco’s Silicon Valley, Christodoulides met with technology leaders including OpenAI, Amazon, Google, Nvidia, Oracle, Plug and Play, and Tenstorrent to showcase Cyprus’s potential as a technology hub.
The announcement of intentions by Tenstorrent and Plug and Play to establish operations in Cyprus was an immediate and encouraging outcome, confirming the attractiveness of the country’s innovation ecosystem, the spokesman said.
He added that global giants like NVIDIA and Amazon expressed interest in exploring partnerships or establishing a physical presence in Cyprus, highlighting the dynamism of the technology sector, which already contributes 14% to the country’s GDP.
Particularly noteworthy, according to the spokesman, were the president’s meetings with members of the Cypriot diaspora who hold leadership positions in global companies, primarily in the technology sector, who expressed willingness to contribute substantially to Cyprus’s development efforts by leveraging their expertise and influence networks.
The government spokesman said the president’s contacts were “successful and productive, confirming international confidence in the Republic of Cyprus, which is now positioned as a stable and reliable partner in a region of geopolitical challenges, offering a safe and sustainable environment for investments”.
The results of these contacts, he concluded, are part of a broader framework of reforms and enhanced outward orientation, aimed at transforming Cyprus into a hub for innovation and financial services.
“Over the past two years, transparency has been strengthened, reliability established, and the country’s geopolitical presence upgraded,” Letymbiotis said, adding that investor interest “is not coincidental but the result of methodical and targeted work,” with multiple benefits such as creating quality jobs, increasing competitiveness, and enhancing economic resilience.
