Nicosia, Cyprus. Competitiveness, reform urgency and economic resilience dominated the annual general meeting of the Employers and Industrialists Federation (Oev) on Tuesday, with speakers urging faster structural changes to sustain growth amid global uncertainty.
Oev president urges action on structural weaknesses
Addressing the gathering at the Landmark hotel in Nicosia, Oev president George Pantelides said Cyprus must take decisive action across key sectors, warning that internal weaknesses could undermine the economy more than external shocks.
“The only enemy in areas we control is our bad self, which sometimes proves a very tough opponent,” Pantelides said.
He added that while Cyprus faces the consequences of a crisis it did not cause, the response must be swift and strategic.
“Our only choice is to invest quickly and intelligently in strengthening the competitiveness of our real economy,” he said.
Sev calls for deeper Greece-Cyprus business cooperation
Federation of Hellenic Enterprises (Sev) executive committee president Rania Aikaterinari said Greece and Cyprus must deepen business cooperation as Europe faces war, bureaucracy and competitiveness pressures.
Speaking on behalf of the Sev, she said economic and political ties between Greece and Cyprus have remained strong throughout history, adding that this is even more important “in today’s environment, where uncertainty has become the new normal”.
“Greece and Cyprus stand together in the face of every challenge,” she said.
Aikaterinari said this was reflected in early March, when Cyprus faced unforeseen situations as a result of the war in the Middle East and Greece responded immediately “with the dispatch of military force” and by sending “a message of unity and support within Europe”.
President outlines investment hub strategy
President Nikos Christodoulides outlined a strategy to transform Cyprus into an active investment hub, highlighting targeted international outreach and the need for further reforms during his address to the Oev annual general meeting.
What reforms do you think Cyprus should prioritise to strengthen competitiveness and sustain growth?