Doing Business in Cyprus (UAE Edition)

DOING BUSINESS C YPRUS
59
UNITED ARAB EMIRATES EDITION
Cyprus and the United Arab Emirates have friendly
relations and a long history of cooperation. In
terms of investment, what key projects in Cyprus
have attracted participation from the UAE, and
what type of foreign direct investment would you
like to see from the Emirates in the future?
Invest Cyprus, as the investment authority of the Government of Cyprus dedicated
to attracting and facilitating foreign direct investments, strives to strengthen the
business ties between Cyprus and the UAE.
The organisation is implementing a strategic plan focused on three main pillars:
attracting FDIs in critical economic sectors, promoting Cyprus as an ideal location for
tech companies, and promoting Cyprus as the ultimate jurisdiction for investment
funds and fund managers in Europe.
Recently, an agreement for bilateral cooperation between the Abu Dhabi Chamber of
Commerce and Industry and the Cypriot Chamber of Commerce and Industry has been
signed, sealing the strengthened business relationship between the two countries.
Moreover, we are building a strong relationship with the UAE’s Sovereign Wealth
Fund, Mubadala, with which we initiated a discussion to explore ways for a Comprehensive
Strategic Partnership, as part of the collaboration between our governments.
Tourism and hospitality, real estate,
and renewable energy are among the
sectors of the Cypriot economy that offer
diversified and profitable investment
opportunities. One of the most important
investments in Cyprus is that of DP World.
DP World, an Emirati multinational
logistics company, specialising in cargo
logistics, port terminal operations,
ITourism and hospitality, real
estate, and renewable energy are
among the sectors of the Cypriot
economy that offer diversified and
profitable investment opportunities
maritime services, and free trade zones, was awarded a 25-year concession to operate
the multi-purpose and cruise terminal in Limassol commencing in February 2017. n