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15-06-2023 19:45

Address by the president of the Republic Μr Nikos Christodoulides at the 2023 CIBA Annual General Meeting

I am particularly pleased to join you for the 30th Annual General Meeting of the Cyprus International Business Association, taking stock of the important work done and the continuous efforts dedicated to fostering the growth of business on an international scale within Cyprus.

First and foremost, I would like to extend my heartfelt congratulations to CIBA on reaching this significant milestone. The journey that CIBA has embarked on since its inception in 1993 is driven by its members' shared vision and commitment and has transformed it into a force. For the past 30 years, CIBA has been at the forefront of promoting Cyprus as a premier destination for global business, serving as a beacon of excellence and fostering a vibrant business community. Your tireless efforts are an integral part of shaping the economic landscape of our country, attracting investment, creating jobs, and driving economic growth.

In an era defined by rapid technological advancement, geopolitical complexities, and environmental concerns, it is vital for us to evolve by prioritizing research and development investments, promoting collaboration between academia and industry, and cultivating a culture of twin transition. Embracing digitalization and emerging technologies is crucial, as they catalyse economic growth and job creation.

I would like to stress that our governance program prioritises these objectives driven by a vision for a modern and innovative economic development model. We are strengthening the competitiveness of the Cypriot economy through a targeted program that is primarily guided by Vision 2035 and the Recovery and Resilience Plan of the EU. These encompass comprehensive structural reforms and targeted investments across all sectors of the economy and society, and it can establish Cyprus as a player in the future digital economy. Significant initiatives within this program include reforming the justice sector, generous subsidies to support businesses in their digital and green investments, substantial funding directed towards advancing e-governance, increased support for research and innovation through enhanced subsidies, tax restructuring, and skill enhancement programs for the workforce of Cyprus.

CIBA is pivotal in steering Cyprus through these important transitions, and it can promote a favourable economic environment, facilitating investment opportunities. It can contribute significantly in encouraging businesses to adopt sustainable practices and embrace the principles of social responsibility. At the same time, CIBA has a role to play in supporting entrepreneurship, empowering innovation, and actively engaging with its members to identify and seize emerging opportunities in the global economy.

The 30th anniversary of CIBA is both a celebration and a call to action, reminding us of our progress and the challenges ahead. It is an opportunity to renew our commitment to international business, innovation, and sustainable development, shaping a future where Cyprus thrives as a business hub. By collaborating, we have the potential to attract investments, generate employment opportunities, and enhance the welfare of our society.

In my closing remarks, I would like to extend my heartfelt appreciation to the members of CIBA, past and present, for their tireless efforts and unwavering commitment. Your collective dedication has been a catalyst in establishing Cyprus as a trusted partner in the international business community. Let us seize this moment to strengthen our collaboration, embrace new opportunities, and build a prosperous future for Cyprus and its global business sector.