CIBA announces action plan to strengthen international businesses operating in Cyprus

The Cyprus International Businesses Association (CIBA), as part of the implementation of the action plan, has announced a series of initiatives aimed at maximising the expertise of its members, as well as strengthening the presence and voice of international businesses operating in Cyprus.

President of the Executive Committee Vassilios Demetriades presented the action plan at the Association's recent General Assembly. The event was attended by dignitaries, including House Speaker Annita Demetriou, pictured above with Demetriades and other members of CIBA's Executive Committee.

According to CIBA's announcements, the initiatives include the:

Creation of Specialised Committees

The establishment of the following six specialised Committees aims to present to the Board of Directors well-documented recommendations on the positions, problems, and challenges faced by international businesses operating in Cyprus.

Committees:
(a) European and International Affairs,
(b) Legal Affairs,
(c) Tax Affairs,
(d) Environmental, Social and Governance (ESG),
(e) Tech
(f) Training & Upskilling.

Annual Report to the President of the Republic and to the Parliamentary Parties

The establishment of an Annual Report addressed to the President of the Republic and the Leaders of the Parliamentary Parties, outlining the positions and challenges faced by international businesses operating in Cyprus, presenting well-documented recommendations for maintaining and enhancing their competitiveness, resulting from the work produced by the above-mentioned Committees.

New Membership Categories

In addition to the existing membership categories, the Association is expanding membership to include individual professionals, as well as startups and very small businesses, based on specific criteria.

In addition to the above, CIBA announces:

(a) The establishment of two annual Awards for its members: the Technology Award and the ESG Award (Environmental, Social and Corporate Governance Award), rewarding members that invest on innovation and adopt best practices in these areas as part of their strategic development, management, and operations.

(b) The launch of a survey to gather insights on the experiences, challenges, and problems faced by international businesses operating in Cyprus. This ensures that the positions presented to both the Government and the House of Representatives are fully aligned with the expectations and needs of these companies, which form the backbone of the Cypriot economy.

More details on these initiatives, particularly regarding the purpose and scope of each specialized Committee and the new membership categories—can be found at the following link: https://ciba-cy.org/cibas-action-plan-to-strengthen-the-presence-and-voice-of-international-businesses-operating-in-cyprus/