The SelectUSA Investment Summit is the highest-profile event in the United States that brings together potential investors and U.S. economic development organizations to facilitate business investment and job creation. It’s a great opportunity for companies looking to expand to the U.S. to connect with relevant organizations, learn from experts, and explore investment opportunities. Key reasons to attend include:

•  One-stop shop for U.S. expansion: Meet representatives from all 50 states and territories, access expert guidance, and explore financing options.
•  Connect with potential partners: Network with economic development organizations, accelerators, incubators, and potential investors.
•  Develop your investment strategy: Learn from industry experts and policy leaders through workshops and sessions on relevant topics.
•  Proven track record: The Summit has facilitated over $98 billion in new investment and supported over 81,000 jobs across the U.S.

The Investment Summit website (https://www.selectusasummit.us/) contains the application for all participants and includes all associated charges. Please note that there is a vetting process, and the Department of Commerce makes the final decision on approval for participation.
This four-day program will include main stage sessions with speakers from the White House, Cabinet, global CEOs, and U.S. state and territory governors. International businesses interested in opening or expanding operations in the United States and Economic Development Organizations (EDOs) will meet to discuss their business plans and state-level resources, programs, and incentives at the Exhibition Hall.

The Exhibition Hall also contains the U.S. Government Pavilion, where international businesses can meet with federal agencies’ representatives to learn about policies, regulations, and resources relevant to their investment plans. The Investment Summit also features workshops to help international businesses better understand the U.S. market and technical elements to investing in the United States, including visas, site selection, federal and state incentives, and more.

Running concurrently with the Investment Summit will be the SelectUSA Tech program that serves eligible international tech startups developing innovative technology products/services and planning to expand to the U.S. market within the next two to three years. We provide services to support their U.S. expansion efforts and create space for them to make connections to the U.S. startup ecosystem. The 2024 Investment Summit will feature SelectUSA Tech academy sessions specifically designed for startup attendees, industry pitching competitions, and targeted networking opportunities. Participation fees for startup applicants can be discounted depending on the startup.
The 2023 SelectUSA Investment Summit saw record-breaking numbers with more than 4,900 participants, representation from 55 U.S. states and territories and more than 83 international markets. President Biden also delivered an address in support of FDI and 16 U.S. governors, six cabinet members (Commerce, Education, Energy, Transportation, State, and USTR), and seven other senior administration officials participated in programming.

Foreign Governments, business associations, and private sector companies are encouraged to attend through representatives that may assist in raising local awareness and participation by foreign investor companies at the Investment Summit.

If you are interested in joining a delegation to the SelectUSA Summit led by the American Embassy in Cyprus, please contact Ms. Ephie-Yvonnie Charalambidou, Commercial Specialist at charalambidouey@state.gov.

Building Permits – Decrease both in Area (2,4%) and in Value (8,3%)

Jan 2024

Decrease both in Area (2,4%) and in Value (8,3%)

The Statistical Service announces that the number of building permits authorized by the municipal authorities and the district administration offices during January 2024 stood at 587. The total value of these permits reached €221,3 million and the total area 198,2 thousand square metres. These building permits provide for the construction of 834 dwelling units.
Compared to the corresponding month of the previous year, the number of building permits issued decreased by 0,5%. The total value of these permits decreased by 8,3% and the total area by 2,4%. Thenumber of dwelling units recorded a decrease of 11,1%. Building permits constitute a leading indicator of future activity in the construction sector.

View the full announcement here (PDF)

With an announcement, the Ministry of Energy, Commerce, and Industry invites applications to be submitted in the context of its 2nd Call for Proposals for the Funding Scheme for the Establishment, Modernization, and Digital Transformation of Enterprises engaged in Manufacturing and Trading of Agricultural Products.
As a result of savings from the 1st Call of the Plan, the total amount to be allocated will amount to at least €3 million, to which any other savings from the completion of the implementation of the 1st Call, will be added.

Applications will be accepted only through the Ministry’s electronic Funding Scheme System, at https://fundingapps.meci.gov.cy, using Chrome, Firefox, and Edge browsers, until May 31, 2024, at 11.59 pm or until the available budget is exhausted. It is clarified that due to the additional savings expected from the 1st Call, applications for a total budget of €7 million will be accepted, however, the maximum amount of approvals will not exceed the available budget of the Funding Scheme. The order of priority will be determined based on the order of submission of proposals (direct evaluation).

The Scheme aims to support existing and new SMEs, as defined in Annex I to the Treaty on the Functioning of the European Union, which are or will be active in the manufacturing and/or trading of agricultural products. Activities related to the fisheries and aquaculture sectors, wines, and wine vinegar listed in Part II of Annex VII of the Regulation (EU) 1308/2013, are not covered by the Scheme.

You can see the Ministry’s announcement by clicking here. For more information, interested parties may contact the competent Officers at telephone numbers 22867275/ 22867279/ 22867243/ 22867154/ 22867388.

PDF Circular – Funding Scheme – Modernization and Digital Transformation – Agricultural