Alexey Gubarev: We need to fix two main problems- schooling and housing

07:20 - 09 February 2024

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Alexey Gubarev, Co-Founder and Board Member at Palta, told IN Business News’ camera that there are currently two main issues that foreign investors are dealing with and for which solutions need to be found the soonest possible: schooling and housing.

“IT has become the main driver of the economy now,” said Gubarev. “But to accommodate this success and actually have the ability to grow on it, we need to fix two main problems: schooling and housing.”

He said there is a big problem with schools. “There should be some big incentives for schooling to build more private schools on the island to accommodate demand. Because all schools on the island are full,” Gubarev explained.

The second problem that needs to be addressed is housing, he said. “We need more affordable housing, not only for the Cypriots, but also foreigners coming here.”

The businessman said the government is taking good steps to address all the issues, but he said it was important that it acted fast. “Because sometimes you need to seize momentum. If you see the problem, catch it, find the solution and address it immediately. It can’t go on for years. We have issues that need to be fixed ASAP,” Gubarev concluded.

Watch the full video here:

Alexey Gubarev: We need to fix two main problems- schooling and housing

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