Nicosia, Cyprus. The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus Institute of Directors and Corporate Governance (CyIoDCG) have signed a memorandum of cooperation to strengthen corporate governance, business excellence, sustainable development and the role of company directors.
The agreement sets out a framework for cooperation focused on exchanging expertise and information, preparing studies and policy proposals, and jointly organising conferences, educational programmes and other initiatives.
Framework for cooperation
According to an official statement, the partnership places particular emphasis on improving the effectiveness of boards of directors, promoting high standards of corporate governance and fostering a culture of responsible leadership for the benefit of the business community and the wider economy.
The memorandum also provides for close cooperation in developing initiatives aimed at strengthening transparency, accountability and the professional training of executives, while encouraging the exchange of knowledge and best practices.
Expected impact
The two organisations said they expect the cooperation to make a meaningful contribution to strengthening Cyprus’ business ecosystem, enhancing the competitiveness of the economy and promoting modern standards of management and development.
Statements from officials
“Corporate governance concerns all businesses, regardless of size, that seek to grow in a sustainable way,” said Keve president Stavros Stavrou.
“It is not merely a framework for good management, but an important factor in creating long-term value, strengthening the credibility, transparency, accountability, effectiveness and competitiveness of businesses,” he added.
“It is with great pleasure that Keve, in cooperation with the Cyprus Institute of Directors and Corporate Governance, will join forces to promote corporate governance and strengthen competitiveness based on the values of accountability, integrity and ethical conduct,” said Keve secretary-general Philokypros Roussounides.
CyIoDCG board chairman Kyriacos Kokkinos said the institute views corporate governance as a key element of sustainable growth across both the private and public sectors.
“Corporate governance is a strategic pillar of sustainability, transparency and long-term value for every organisation, from small and medium-sized enterprises to listed companies and public sector organisations,” Kokkinos said.
