The reasons that make Cyprus an attractive international business and entrepreneurship hub were presented by the Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos at the 5th bilateral business conference organised in London on Tuesday by the GB-Cyprus Business Association.
Kokkinos told delegates comprising professionals, entrepreneurs and potential investors that the Cypriot government’s motto is “Cyprus is the place to live, work and do business”.
He stressed that more than simply a slogan, this message is underpinned by a government action plan with a long term vision reaching up to 2035.
The strategic objectives of this plan are to make Cyprus a world-leading business nation, to create a thriving and resilient economy, along with a just society.
In order to achieve these objectives and make use of the country’s comparative advantages (such as its geostrategic position, the high quality of life, the highly educated and talented workforce, and the EU membership), the Deputy Minister referred to policy “enablers” that are being promoted.
Indicatively, he spoke of the drive to digitally transform the state and the economy, the boosting of the green economy, measures for effective government and governance, improved policies and regulations, promoting a happy and healthy life, the educational reform, as well as the emphasis on innovation, research and development, and entrepreneurship.
Kokkinos particularly emphasised the aims regarding digital transformation within the 1.2bn euro-funded Recovery and Resilience Plan, aims such as advancing e-government, expanding ultra fast affordable internet connectivity, solutions for smart cities and promoting innovative entrepreneurship.
Commenting that “Cyprus is not just sun and sea, but also technology and innovation”, he revealed the ongoing process of setting up gov.cy, a portal containing all state services which is being built based on the respective British architecture.
The Deputy Minister also briefly referred to sectors offering investment opportunities in Cyprus, such as mainly ICT and higher education, but also, inter alia, renewable energy, real estate and healthcare.
Finally, he referred to “key government interventions” to create incentives for foreign businesses, such as tax polices, the renewed migration policy and the Business Facilitation Unit.
These and other thematics pertaining to Cyprus as an international business hub were discussed throughout the day by expert professionals from Cyprus and from the UK brought together as speakers and panelists for the conference.
Speaking to the Cyprus News Agency on the sidelines of the conference, Kokkinos said that the message to delegates was clear: “They have all the good reasons to come and live, work and do business in Cyprus: its geographical position, the tax and legal framework, as well as the workforce."
These, he noted, "are the strong cards so that Cyprus can develop another pillar of its economy, namely services relating to technology and sciences, as well as services already developed in Cyprus.”