President Nikos Christodoulides has expressed his belief that the Cypriot people understand the essential contribution of the business community to the development of the economy.
In his speech at the 18th IN Business Awards, Christodoulides pointed out that growth allows for the absorption of internal and external crises, and also for investment in key sectors.
“We certainly do not criminalise business profits, like some who are seeking the vote of the Cypriot people. I am sure, however, that the Cypriot people understand the essential contribution of the business community to the development of the economy, a growth that allows us to absorb internal and external crises, that allows us to invest substantially in the sectors of health, education, housing, and the welfare state,” the President of the Republic pointed out.
Indian businesses choose Cyprus as gateway to the European market
Moreover, the President of the Republic highlighted the growing presence of Indian businesses in Cyprus and the strategic goal of further deepening Nicosia-New Delhi relations, emphasising that companies from India are already choosing Cyprus as "an entry point into the market of 450 million citizens of Europe."
Christodoulides stated that the first results from the upgrading of Cyprus-India relations are already visible, following last year's visit to Cyprus by Indian Prime Minister Narendra Modi.
"I am happy because, already, the results are visible from a number of Indian businesses that have decided to invest in Cyprus and utilise our country as an entry point into the market of 450 million citizens of Europe," he said.
As he noted, Indian businesses are "approaching" Cyprus "as a European Hub with an International Footprint," due to the country's stability and reliability.
The President of the Republic also stated that his upcoming mission to Mumbai and New Delhi has a "clear political, economic and development orientation," aiming to open new collaborations in the fields of technology, innovation, education, energy and tourism.
Reliability and seriousness are confirmed
Noting that in this unstable and unpredictable international environment that is testing the resilience of even strong European economies, such as Germany and France, Cyprus is recording growth rates and proving its stability and reliability, he recalled that just last week, for the first quarter of 2026, including March (the period of the outbreak of the crisis in the Middle East), the Cypriot economy recorded a growth rate of 3%, which is the highest growth rate in the European Union. "At the same time, the confidence of international markets and international rating agencies continues, with continuous upgrades. All this confirms the reliability and seriousness with which we approach economic issues," he said.
A key lesson, according to Christodoulides, is that fiscal responsibility is a foundation of stability and resilience for the country with multiple positive impacts. “Our strategy, as the country’s government, is clear, our goals are clearly defined, the ideological and political framework on the basis of which we make our decisions is clear and we are moving forward with specific goals with results that offer stability, perspective, development and security in all sectors,” he emphasised. “Through policies and responsibility, we are creating the necessary conditions for attracting high-value-added investments, which strengthen the country’s extroversion and the productive fabric of the economy, while helping the great effort to expand the productive base of the economy,” he underlined, among other things.
He added that, in Cyprus, we may live in conditions of full employment, with unemployment below 5%, one of the lowest rates in Europe, however, an effort has been launched, which is bringing results, to link education with the labour market. "That is why it was decided that vocational orientation in schools, which began in the last week of the third grade, will now begin in the sixth grade with the involvement of the private sector," the President of the Republic said. "Special emphasis is also being placed on technical education, with the number of technical high schools increasing from two to four, because we want more engineers, people who deal with computers, etc.," he stressed. At the same time, he added, "we have moved forward with changing the curricula in schools because we do not want students who complete high school as excellent because they are very good at parroting, but when they enter the labor market they face problems. So we are reducing the curriculum while placing special emphasis on skills development."
At the same time, Nikos Christodoulides noted, in combination with responsible economic policy, Cyprus is strengthening its international footprint through a dynamic and reliable foreign policy. Relations with strategic partners, India, and countries that can contribute to the expansion of the productive base of the economy, such as Kazakhstan, are being strengthened, he said, taking advantage of Cyprus' geopolitical position and the credibility of the Republic of Cyprus.
(Source: InBusinessNews)
