Christiana Erotokritou, Chairwoman of the parliamentary committee on finance and MP, said on Monday that governance is no longer a niche discussion for boardrooms alone, at the launch event of the Cyprus Institute of Directors & Corporate Governance (IoDCG).
She added that it is important to note governance is not a “box-ticking” exercise but a significant part of the initiative towards helping economies grow.
According to Erotokritou, the cornerstone remains the companies’ law, which establishes the regulation for the operation and functioning of companies.
“Only a few months ago, parliament adopted the regulation for foreign direct investment,” she said, highlighting the importance of these changes in aligning with European regulations, and the companies attracted to the island.
Erotokritou said that boards are called to remain resilient but profitable and compliant.
According to Erotokritou, much like where in government "the goal is to deliver a better future for the country as a whole," boardrooms need to deliver confidence among company stakeholders and investors.
