Invest Cyprus has welcomed plans by Sword Group, an international consulting, services, and software company, to launch some of its operations in Cyprus.
George Campanellas, Chief Executive of Invest Cyprus, said the Sword Group's decision to open an office in Nicosia would bolster Cyprus's reputation as a central tech hub in the European market. The international software consultancy will be joining a number of leading names in the industry already established on the island.
With digital business trends gaining serious momentum during the pandemic, Sword Group has chosen Cyprus as its new hub to support existing customers further and expand into the European market.
Speaking on the decision, Nasser Hammoud, Operation Director at Sword Group for the Middle East & India, said, "Our intention in opening an office in Cyprus is to offer our existing European clients a second choice of location when it comes to providing Nearshore Support and Services."
Mr. Hammoud continued," Cyprus provides a lucrative market for potential clients and new projects," and went on to highlight the island's prime location for expanding into the European market,
He added, "We would also like to expand our client portfolio and distribution network by acquiring new projects and clients in Europe and the Middle East. It seemed like the ideal location as Cyprus acts as a bridge for business and trade between Europe and the Middle East."
"The support we have received from Invest Cyprus has been very positive and the team we collaborated with have been professional and friendly. We are looking forward to the future of Sword Group within Cyprus and we expect to see the island become a key tech hub in the region."
Mr. Hammoud concluded, "Cyprus offers a wide range of incentives for tech companies and the support provided to businesses looking to open offices in the island made it all the more enticing."
Mr. Campanellas of Invest Cyprus, said "Sword Group joins a number of world-leading tech companies who have taken advantage of the strategic geographical location. Sword Group's new operations base will expand services for their current customer base but will also reward them with a number of new opportunities on the island."
"We are very pleased to be able to attract such formidable players in the tech sector, as Sword Group who are working to meet the rapidly growing demands of global businesses." said Mr. Campanellas.
"At Invest Cyprus, we are committed to supporting businesses throughout all steps of their development on the island from setting up offices, expanding operations, relocating and launching businesses. We aim to ensure any and all business development is seamless and efficient."
"The decision of Sword Group to expand operations to Cyprus reflects the country's strong economic recovery following the pandemic and highlights the growing reputation of the island as a European tech hub, attracting significant global investment in the industry."
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