Editor's Note

Innovation Anchored in Tradition

Cyprus is an island country situated in the Mediterranean region and it is experiencing a significant change in its business environment. Cyprus has traditionally relied on tourism and shipping industries, but in recent years the country has also been developing a more diversified economy based on the financial services, information technology and renewable energy industries. This evolution has been driven by the strategic developmental attempts such as improvement of infrastructure, efficiency of the legislations governing the business and promotion of friendly business environment. One of the main spheres of the Cypriot economy, financial services has been undergoing modernization. Measures taken to increase transparency and to ensure that companies complied with the rules and regulations of the country have helped to build confidence among the international investors.