The business world is being called upon to operate with unity and strategy, said the President of the Cyprus Chamber of Commerce & Industry (CCCI), Stavros Stavrou, has said, noting that Cyprus has all the qualities needed to play a leading role in the new era.
"We can capitalise on the new opportunities that will be created in the Middle East region. With proper planning, collective effort and determination, we can ensure a dynamic, extroverted, competitive and sustainable economy," he pointed out, speaking in the context of the OEB Annual General Meeting.
He also underlined that entrepreneurship in Cyprus is at a critical crossroads. "On the one hand, significant opportunities are emerging: the green transition, digital transformation, innovation and attracting quality investments. On the other hand, we face chronic weaknesses that limit our competitiveness: bureaucracy, reduced productivity, high public sector costs, lack of specialized human resources and delays in justice," Stavrou explained.
Priorities, according to the President of the CCCI, should, among other things, be the strengthening of productivity and competitiveness, through technology and innovation, the support of small and medium-sized enterprises, which constitute the backbone of the economy, the investment in human capital, with an emphasis on education and training, the connection of the university community with the labor market, the promotion of sustainable development and the green economy, the emergence of new sectors of the economy, as well as the continuation of support for traditional sectors of the economy.
Moreover, the State is being called upon, as Stavrou said, to accelerate the reforms that will make Cyprus an even more attractive business destination. "Especially now, with the imminent end of the war in the Middle East, it is urgent to promote bold reforms in order to take advantage of the new environment and the new opportunities that are being created in our wider region. Furthermore, the State must carefully consider regulations concerning the labor market," Stavrou said.
He also explained that caution is needed regarding pension reform, warning that any wrong decisions will cause insurmountable problems in the future.
(Source: InBusinessNews)
