The United States ambassador to Cyprus, John Breslow, has urged Cyprus to reduce bureaucracy, provide greater regulatory certainty and expand investment screening mechanisms, warning that even a single company leaving the country due to investment obstacles is one too many.
Speaking at the first annual conference of the American Chamber of Commerce in Cyprus in Nicosia, titled Strategic Corridors and Alliances: Transatlantic Cooperation and Europe's Connectivity, Breslow said Cyprus has the potential to become a European business hub for American companies, provided opportunities are supported by a more investment-friendly environment.
"I am concerned by opportunities that remain untapped. I have said this before: even one company leaving is one more than should be leaving," he said, calling for closer cooperation between Cyprus and the United States to reduce red tape.
He added that businesses require certainty in order to make major long-term investments.
Breslow also praised Cyprus for raising concerns about European bureaucracy during its Presidency of the Council of the European Union, urging continued efforts to ensure regulations do not become barriers to investment.
He pointed to the recent US-Greece agreement on secure supply chains, critical minerals and investment screening as a model of cooperation.
Investment screening and economic opportunities
The ambassador said Cyprus could play a central role in Europe and serve as an example of how American businesses can contribute to economic growth across the continent.
He welcomed Cyprus' recently adopted investment screening legislation but said the United States would like to see similar safeguards extended to public procurement procedures.
Defence, energy and regional cooperation
Breslow described the US-Cyprus partnership as one that makes both countries "safer, stronger and more prosperous", citing cooperation in defence, energy, regional security and connectivity.
Referring to defence ties, he highlighted the signing of a five-year cooperation roadmap in 2024 and noted that American vessels have visited Cypriot ports more than 100 times since 2022.
He also referred to the first sale of US military equipment to Cyprus, which will support the expansion of the air base in Paphos and provide training opportunities for Cypriot military personnel in the United States.
The ambassador additionally highlighted the role of the CyCLOPS Regional Training Centre in Larnaca, which was established with US funding and trains experts from dozens of countries in border security, anti-smuggling and counterterrorism.
Cyprus' role in regional connectivity
Breslow described the 3+1 cooperation framework between the United States, Cyprus, Greece and Israel as a practical partnership aimed at strengthening security and connectivity in the Eastern Mediterranean.
In the energy sector, he noted ongoing cooperation between Cyprus and major American companies, including ExxonMobil, Chevron, Halliburton, Baker Hughes and McDermott.
"Energy security is national security," he said.
He added that electricity and data cables, together with the India-Middle East-Europe Economic Corridor, could connect markets stretching from the Indian Ocean to the Atlantic, with Cyprus occupying a strategically important geographic position.
Breslow also called for greater opportunities for young Cypriots to study, train and work with American companies, stressing that close cooperation between business leaders and both governments is essential.
Concluding his remarks, he expressed confidence that Cyprus and the United States could continue working together to build a future that is "safer, stronger and more prosperous".
Source: CNA
