Nicosia, Cyprus. The Cyprus Employers and Industrialists Federation (Oev) on Tuesday welcomed the outcome of Cyprus’ six-month Presidency of the Council of the European Union, saying it enhanced the country’s standing and raised expectations for faster reforms to strengthen the domestic business environment.
Presidency assessment
The federation said the presidency took place during a period of heightened geopolitical instability and economic challenges, with the Republic responding to its responsibilities with seriousness, competence and effectiveness.
Oev congratulated the President of the Republic for what it described as the well-organised and effective management of the presidency, as well as state and public service officials who contributed to what it called a national success.
Policy progress
The federation said progress had been achieved on a number of important European policy files during Cyprus’ presidency, particularly in areas affecting the competitiveness of the European economy, the strengthening of the Single Market, enlargement, migration, defence and security.
According to Oev, these developments are directly linked to the need for lower administrative burdens, more predictable rules, a better functioning Single Market and stronger business competitiveness.
Call for implementation
The federation said European institutions must accelerate the implementation of reforms designed in cooperation with the leadership of the European business community.
It added that, despite progress at policy level, businesses have yet to experience tangible improvements on the ground.
Strategic roadmap
Oev said it would continue to work responsibly and constructively in promoting an agenda focused on growth and prosperity.
It said this approach is based on decisions adopted at its annual general assembly on April 28, 2026, during which members approved the strategic roadmap entitled ‘From Ambition to Action’.
The federation said it remains committed to advancing this roadmap while supporting reforms aimed at strengthening Cyprus’ long-term economic competitiveness and business environment.