US Ambassador to Cyprus discusses energy security and investment climate

U.S. Ambassador to Cyprus John Breslow held a series of high-level engagements this week to strengthen bilateral cooperation in energy and economic affairs. During an initial meeting on Wednesday with Deputy Minister to the President Irene Piki, Breslow emphasized that energy security is inextricably linked to national security for both nations and the broader Eastern Mediterranean region. He pledged to foster new business opportunities and attract investment capital to the island.

On Friday, during the first annual conference of the American Chamber of Commerce in Cyprus, Ambassador Breslow urged the government to reduce bureaucracy and provide greater regulatory certainty for foreign firms. He warned that the loss of even one American company due to administrative obstacles is unacceptable. The Ambassador praised recent Cypriot legislation on investment screening but advocated for its extension into public procurement processes. Referencing a recent U.S.-Greece agreement on supply chains and critical minerals, he highlighted the potential for Cyprus to serve as a central European hub for U.S. business activities. The Ambassador emphasized that achieving long-term investment success requires a more business-friendly environment and streamlined European regulations.