Filenews 2 July 2025
The approval of an important reform that is part of the strategy to upgrade the country's credibility and international reputation was announced by the President of the Republic, Nikos Christodoulides, before the start of the session of the Council of Ministers.
As he noted, the Ministry is expected to approve the establishment of a National Foreign Direct Investment Control Mechanism, with the aim of protecting national security and public order.
The President spoke of an institutional breakthrough that strengthens the country's protection shield, without, as he said, closing the door to reliable investments for which a collective effort is being made to attract.
He pointed out that with this decision, Cyprus becomes part of a single European investment framework, which is based on transparency, strategic assessment and the safeguarding of critical infrastructure.
He also clarified that the new bill replaces the original proposal submitted by the previous government in 2022, which had been discussed in Parliament in 2024 and for which objections were expressed. As he said, extensive consultation with the stakeholders followed and substantial improvements were made, which were approved at the meeting.
Concluding, the President underlined that the decisions of the new Mechanism will be taken in a timely and transparent manner, which he described as necessary to attract reliable and quality investments.
