EIB survey shows uncertainty disrupts investment in Cyprus
According to a European Investment Bank (EIB) survey on investment and investment finance for Cyprus in 2017, it states that uncertainty, regulation, energy costs, skills and access to finance are the core impediments for future investments in the island.
The EIB Director of Economics presented the survey during a recent economic conference in Nicosia which was organised by the EIB in collaboration with the Nicosia Chamber of Commerce and Industry.
Approximately 9/10 firms in Cyprus consider uncertainty about the future at 90% and energy costs, 89%, to be obstacles in investment activities.
Moreover, the survey also highlighted that investment activity actually recovered in Cyprus in 2017, but investment levels were still below the pre-crisis levels.
The availability of skilled employees and business regulations were mentioned as barriers to investment by approximately 7 out of 10 firms and notably, 9/10 firms in the services sector.
Despite the overall pattern of the results being similar to the EU, some of the investment obstacles are reported more regularly by firms in Cyprus.