Cyprus to expand Invest Cyprus mandate to focus on export sector

President Nikos Christodoulides announced during the 20th anniversary event of Invest Cyprus in Nicosia on Tuesday evening that the government plans to grant the agency expanded responsibilities. The primary focus of these new duties will be the promotion of Cypriot exports to boost international trade, a proposal that has already undergone preliminary discussions within the Council of Ministers.

During his address, the President highlighted the country's strong economic performance, noting a cumulative growth of over 18% during the past three years. He emphasized that Cyprus has consistently ranked among the two fastest-growing economies in the European Union from 2023 to 2025. Furthermore, Christodoulides credited the recent credit rating upgrades to 'A' status to the government's commitment to fiscal stability, institutional strength, and economic diversification.

The administration is currently finalizing specific proposals to facilitate this institutional transition. The government aims to formalize these plans shortly to further integrate the organization's role into the national economy, reinforcing the ongoing growth trajectory.