President Nikos Christodoulides made the case for Cyprus as a top investment destination on Thursday, telling a business audience in Mumbai that the island offers a stable economic environment, a strategic location and direct access to European, Middle Eastern and African markets.
Speaking at a roundtable organised by Invest Cyprus, Christodoulides described Cyprus as a natural partner for India and a bridge to Europe, the Middle East and North Africa, pointing to the island’s geographic position as one of its core advantages.
He said foreign investment in Cyprus exceeds €81 billion, representing more than 225 per cent of the country’s GDP, and that international companies increasingly choose the island as the base for their regional headquarters. Cyprus also has the fastest-growing economy in the EU and has significantly reduced its public debt, he said.
On Schengen, Christodoulides said significant progress had been made and that a political decision was expected by the end of 2026 or early 2027, describing eventual accession as an important milestone for Cyprus. The island has been an EU member since 2004 but remains outside the passport-free zone, with the division of the island and migration management the main obstacles to membership. The European Commission’s latest State of Schengen report, published this week, cited significant progress by Nicosia and listed Cyprus’s full accession as a priority for the 2026–2027 cycle, though a unanimous vote among all Schengen members is still required.
Turning to the India-Middle East-Europe Economic Corridor, known as IMEC, Christodoulides said Cyprus had a very important role to play in its development. The corridor, launched at the 2023 G20 summit in New Delhi, aims to link India to Europe via the Gulf through an integrated network of rail, shipping, energy and digital infrastructure. Cyprus has been identified as a potential hub for transshipment, logistics and distribution along the corridor’s European end.
Christodoulides said IMEC reflected the direction in which the global economy was moving: towards greater connectivity between regions.
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