Business intelligence provider Cedar Rose has been presented with the Cyprus Special Export Award for Services from the President of the Republic of Cyprus, Mr. Nicos Anastasiades. The award was accepted by the CEO of Cedar Rose, Antoun Massaad, at the Presidential Palace in the Cypriot capital of Nicosia on November 12, 2020.
The award ceremony was conducted at a special event held for a small group of attendees with strict protocols put in place by the Ministry of Health to ensure the safety of all guests. With the economic effects of the coronavirus pandemic still weighing heavily on Cyprus and its citizens, the President delivered a positive message of hope for the coming year.
“I am absolutely sure, based on the measures taken at local, international, but also European level, that we are close to the discovery of an effective vaccine, that the pandemic crisis will be overcome so as to deal more effectively with the financial crisis in the hope that 2021 will be the year for the recovery to begin,” he said.
Exports of domestic products on the island fell by 4.6% in the first half of 2020, with exports of services falling by 8.8%. However, President Anastasiades believes these losses can easily be reversed in the coming year once the pandemic has come under control. To support the economy, Cyprus has secured an allocation of €2.75 billion for the preparation of a new Multiannual Financial Framework to help cover €1 billion of spending in 2020 and an amount likely to be far greater than €300 million planned for 2021.
Cyprus Export Services Award
Established in 1982, the Cyprus Export Services Award was created to recognise the efforts of businesses that have shown remarkable talent and initiative in improving the economic situation of Cyprus. By driving foreign investment, promoting new market opportunities, and increasing international awareness, many Cypriot businesses have won the award over the years.
Cedar Rose was amongst five companies awarded the Export Services Awards. The honours were bestowed in recognition of services rendered during the 2018 fiscal year, with the other winners including Christakis Agathangelou Ltd, Remedica Ltd, Armonia Estates Ltd and Thomason Machinery Ltd.
Cedar Rose International Services Ltd is recognised for its proficiency in delivering expert Business Intelligence advice, company credit reports, and due diligence research to the EU market throughout 2018. Established in the UK in 1997, the company relocated its headquarters to the beautiful island of Cyprus in 2007. The name “Cedar Rose” comes from the national emblems of Lebanon and England, the countries where founders Antoun Massaad and Christina Massaad were born.
Besides credit reports and due diligence investigations, the company also offers electronic identity verification and customer onboarding software to clients all around the world. Their services enable their customers to trade securely, to export and extend credit with confidence and to onboard customers without enabling fraud, money laundering or the financing of terrorism.
Cedar Rose’s customers include Tier 1 banks, Big 4 Auditors, export insurance agencies, governments and private companies. The company has been a National Winner for Cyprus twice in the European Business Awards and recently won the Commercial Credit Information Provider of the Year and the CCR Credit Excellence Award for Export in the UK.