Experts discuss 'A Changing Cyprus: New Horizons for Talent and Enterprise' in London

During a panel discussion on 'A Changing Cyprus: New Horizons for Talent and Enterprise,' at the Minds in Cyprus event in London, part of the Brain Gain Initiative of the government, speakers shared their vision on the attracting people back to Cyprus and getting them to stay and contribute to the economy.

The panel was moderated by Lia Riris, Deputy Director General, Invest Cyprus.

Irene Piki, the Deputy Minister to the President of Cyprus, said, “Cyprus is a portal of stability and hub for talent. We are transitioning to a knowledge based economy. We have engaged the private sector from the beginning in the this endeavour.” She added that the government has a strategy and plan to bring people back and that they are operating on strict timelines to keep making Cyprus more attractive.  

On his part, Stavros Stavrou, the President of the Cyprus Chamber of Commerce and Industry said, “We are transitioning to a value-added economy. We see new contributors to our GDP, including tech, education, and shipping, which was a traditional one but is expanding. The tech and innovation are important as they are rising. When we say Cyprus is evolving it is not abstract, we are contributing by making promotions and making new investments, and connecting interested parties together. This transformation is not just happening but is based on strategies, and interest is coming from new markets.” He added that Cyprus is one of the top in start ups, scale ups in fintech. He also said that they provide special incentives for research and development.

Stavrou also made a point that international headquartering and family offices, are turning Cyprus into a hub. “We are creating a talent ecosystem that values the people that decide to return back home to Cyprus, and ensures they have all they need to settle down.”

Andrew Bird, the CEO of Remedica, a pharmaceutical company in Cyprus said, “There are five reasons why Cyprus is good for us. We see Cyprus as a crossroads, important as a logistic perspective for pharmaceutical companies, licencing is easier, there are strong pharmaceutical regulations. The final thing is talent and it is all possible if we have great talent.”

Joanna Carlin, the Executive Director and Global head of talent acquisition at MUFG said, “We work closely with universities to grow and nurture talent and this is how we focus on the future and grow our business in Cyprus. We give them a new idea for information.”

Michalis Charalambides, the CEO of ECOMMBX said, “I like to think upside down. Stay abroad, get knowledge, acquire knowledge.” He said that people from Cyprus migrated abroad to make better lives abroad. “You will eventually come back, and Cyprus has already become a pride and a jewel of the Mediterranean.”

He added that, whoever wants to come back all are welcome, and there are companies ready to embrace their talent.

Demetris Zoppos, Co-founder of 33East a venture capital firm, said, “What a great initiative. Thank you we are a venture capital firm. We are an example of people coming back to Cyprus. We are focused on investing in start ups in Cyprus. We provide capital and support to people wanting to start something out of Cyprus.”