The conference “Investment and Investment Finance: The Cypriot Case” held in Nicosia, Cyprus, on 26 September 2019 was organized jointly by the Νicosia Chamber of Commerce and Industry and the European Investment Bank.
A number of notable participants attended the conference:
- Yiorgos Lakkotrypis (Minister of Energy, Commerce and Industry - Government of Cyprus)
- Stelios Anastasiades (President of the Nicosia Chamber of Commerce)
- Marjut Falkstedt (Secretary General of the EIB)
- Debora Revoltella (Director of the EIB Economics Department)
- Anita Fürstenberg (Head of the Central and South Eastern Europe Department within the EIB Operations Directorate)
The event also featured speakers from the Central Bank of Cyprus, the Ministry of Finance, the Universities of Cyprus and Nicosia, the European Commission, and other institutions.
The conference discussed the investment and investment finance situation in Cyprus. It brought together the presentation of the latest findings of the EIB Investment Survey (EIBIS) for the country with perspectives from policy makers and the corporate sector. It was also an opportunity to emphasise the substantial commitment of the EIB to the country and the opportunities for further collaboration.
Debora Revoltella described how firms in Cyprus, according to EIBIS, perceive a downturn in the political environment and in economic trends, although they are slightly less pessimistic than firms across the EU. They are less active innovators than firms in the rest of the EU, but are still keeping pace with regard to the adoption of digital technologies. While some firms report no investment plans while they restructure or deal with legacy issues, others face certain external hurdles to investment such as uncertainty related to trade issues and high-energy costs.