Demetris Sparsis: Interest in the Brain Gain effort, what its ‘betting’ on, and its dual goal

The initial goal of mobilising the interest of Cypriots working abroad and who wish or would not rule out returning to settle and engage in professional activity in Cyprus seems to be being achieved by the ‘Minds in Cyprus’ initiative, which, through the provision of specific incentives, aims precisely at the repatriation of talents to the island.

It is recalled that the first event within the framework of the Brain Gain initiative was held in London on 21 May in the presence of the President of the Republic Nikos Christodoulides, recording a huge success, since more than 750 people attended it in person and many more - not only from the British capital but from various regions of the UK - online.

As Invest Cyprus Board of Directors Member Demeitris Sparsis stated in an interview with InBusinessNews, a large number of our compatriots have already submitted further clarifying questions, thus showing real interest, while at the same time, interest is also being expressed by companies that are considering the possibility of creating start-ups in Cyprus.

"Regarding the first step, namely to create interest in the repatriation of Cypriots who live and work abroad and are at a stage in their lives where they are thinking about their return, the goal of the initiative has been fully achieved," Sparsis noted, going on to identify the next step of the wider effort as being even more important and decisive.

The "marriage" wager

This, as Demetris Sparsis explained, is nothing more than the "marriage" of the interest that is being expressed or will be expressed, with the needs of the labour market on our island.

To this end, it is recalled that the creation of a digital platform for the interconnection of Cypriots abroad with the labour market in our country is being carried out as a pillar of the initiative, with the Ministry of Labour and Social Insurance as the implementing body, and with the support of Invest Cyprus.

The platform, which is expected to be ready within the next few weeks, will gather, on the one hand, job vacancies from collaborating companies looking for specialised human resources, and on the other hand, requests from interested parties for work in highly specialised positions.

A project with a universal focus

Asked by InBusinessNews about the sectors in which the greatest needs arise and on which the talent repatriation project is or will potentially focus on, the member of the Board of Directors of Invest Cyprus underlined that the entire effort is not limited to specific sectors, but concerns the entire spectrum of the Cyprus labour market.

"There are, of course, some rapidly developing sectors to which we as Invest Cyprus attach particular importance in terms of attracting foreign companies and in which there are growing needs, such as IT, education, healthcare, tourism and land development. However, the Brain Gain as an initiative concerns meeting the needs in all sectors of economic activity," Demetris Sparsis pointed out.

The ‘pluses’ of Cyprus beyond incentives

Given the first encouraging messages received regarding the interest of Cypriot compatriots to warmly consider utilising the incentives provided through the ‘Minds in Cyprus’ initiative to return to Cyprus, Sparsis was invited by InBusinessNews to express his opinion on whether these incentives are sufficient and capable in themselves, so that any exploratory interest can ultimately be turned into action.

"Cyprus has many advantages, a quality of life that may not be offered by large cities abroad," Sparsis initially indicated, going on to underline that there are a number of other parametres that, in addition to the incentives provided through this specific initiative, can and should be taken into account by those weighing the "pros" and "cons" of a possible return to the island.

Pointing out in this regard that today's Cyprus is on a much better path, in his words, than in the past, Demetris Sparsis focused on efforts to combat corruption and consolidate meritocracy, which - as he noted - create for young people who aspire to join the labour market, conditions and an environment that are clearly better than in previous decades.

"An environment in which good minds can advance without the need for the crutches of outside influence, where advancement is based on merit and not acquaintances," Sparsis added.

And all this, while the development of the economy and the evolution of the country's multifaceted economic model are added to the whole equation.

As Demetris Sparsis explains, we are now talking about a flexible economy, with clearly more sectors than in the past in which one can work, develop and progress. “For example,” he notes, “in addition to the growing sectors that I mentioned above, there are startups that come to Cyprus and grow.”

The realistic approach and the dual objective

Continuing, and presenting the realistic approach that the expectation through ‘Minds in Cyprus’ is not that all Cypriots living abroad will return to Cyprus, Sparsis also puts on the table a different parametre regarding the entire effort’s targets.

"The goal is twofold," he says, explaining: "On the one hand, two out of ten can come and create momentum over time for the rest to come as well. But at the same time, we want to have centres of influence. That is, a Cypriot living in a city abroad can become a centre of influence to send to Cyprus, through his circle and acquaintances, recommendations for companies or services to come to Cyprus and make the most of the country’s advantages," Demetris Sparsis suggests.

Cyprus as a destination for foreign companies

The Brain Gain initiative may be about attracting talent and human resources, however, in a parallel process, Invest Cyprus's effort to attract foreign companies and investments in Cyprus also never stops.

The member of the organisation's Board of Directors emphasises the fact that Cyprus, remaining a pillar of stability in its wider region, in combination with its advantageous geographical location and its status as a member of the EU, is able to attract companies today that in the past might have chosen neighbouring states instead.

"We are attracting companies that want to exploit the Middle East and at the same time have access to Europe," he says, to indicate that the latest effort being made with India confirms the truth of the matter. This particular country, as Demetris Sparsis notes, due to the historical ties that connect us, sees Cyprus as a bridge to Europe.

"We are trying to develop partnerships with friendly countries, which are located not only in our wider geographical area, but also with countries whose economies are very close to reaching huge economies, such as the US, for example," Sparsis further explains.

Ensuring coverage of basic needs

Finally, and returning to the ‘Minds in Cyprus’ initiative, Demetris Sparsis emphasises that Cyprus must grow its population base in order to grow as an economy.

In this context, and recognising the need for actions that will make the return, and especially the remaining of those who choose to repatriate, easier on our island, Sparsis characterises as essential the ensuring of coverage of their basic needs, such as housing through the utilisation of existing projects implemented with the cooperation of the public and private sectors, access to education and the provision of health services.

"Undoubtedly, as a state, we must ensure that the needs of those who will be repatriated are met," he says.

(Source: InBusinessNews)