The Board of Directors of the Cyprus International Business Association (CIBA) says that the Association actively supports the Government’s efforts to enhance the country’s competitiveness as a reliable international business and investment hub.
The CIBA Board met with the President of the Republic Nikos Christodoulides, "in a highly constructive atmosphere, with a substantive exchange of views on the role, challenges, and prospects of international businesses operating in Cyprus," as it is noted in a press release.
During the 31 March meeting, the President of CIBA, Vassilios Demetriades, assured the President of the Republic, that the Association, as the primary representative body of international businesses established in Cyprus, actively supports the Government’s efforts to enhance the country’s competitiveness as a reliable international business and investment hub.
Demetriades emphasised that CIBA’s members, as direct users of the services offered by Cyprus within the international business environment, can act as strong ambassadors of the country abroad. In this context, he underlined the importance of coordinated efforts between the State and relevant organisations, such as the Cyprus Investment Promotion Agency (Invest Cyprus), for the further promotion of Cyprus and the attraction of new international companies.
According to CIBA, the discussion focused on issues of strategic importance for the Cypriot economy, including the existing regulatory and institutional framework, the strengthening of foreign direct investment, the need to accelerate the digital transformation of public administration, as well as broader geopolitical developments affecting the international business environment.
In a statement following the meeting, the President of the Board of Directors of CIBA, Vassilios Demetriades, stated that international businesses constitute a key pillar of the Cypriot economy and CIBA stands firmly alongside the Government’s efforts to strengthen Cyprus’ position as a credible, competitive, and resilient international business centre.
"Our role is to act as a bridge between the international business community and the State. In this direction, CIBA is establishing, on an annual basis, the submission of a report to the President of the Republic, outlining the positions, challenges, and issues faced by the international business community in Cyprus, along with concrete proposals for the further development of the sector," he said.
According to CIBA, President Christodoulides praised CIBA’s constructive and responsible approach, highlighting the need for a continuous channel of communication and meaningful dialogue. He also expressed his intention to leverage CIBA’s expertise and the experience of its members in the Government’s efforts both to retain existing foreign businesses operating in Cyprus and to attract new investment.
(Source: CNA)
