Michalis Kammas appointed chair of Cyprus Business Development Organisation

Nicosia, Cyprus. Michalis Kammas has been appointed chairperson of the newly established Cyprus Business Development Organisation, pledging that its board will work to achieve the government’s objectives.

The cabinet approved his appointment this week as the government begins bringing the new national business development institution into operation.

Board appointments

Speaking to the Cyprus News Agency shortly after the announcement, Kammas welcomed the decision and thanked the government for entrusting him with the leadership of the organisation.

“I thank both the Minister of Finance and the President of the Republic and the Council of Ministers for the honor they did me by appointing me president of the organisation,” Kammas said.

Stelios Theophanous was appointed vice-chairperson. Philippos Hadjizacharias, Marinos Lambrianides and Andreas Isodiou will serve as board members.

The seven-member board also includes Aliki Sergi, representing the Finance Ministry, and Konstantinos Kleovoulou, representing the Deputy Ministry of Research, Innovation and Digital Policy.

Organisation’s role

Kammas said the board was ready to contribute to putting the organisation into operation and delivering the goals behind its creation.

“As a board of directors, we will do everything we can to achieve the goals that the government has set with the creation of this organisation,” he said.

The relevant legislation was approved by parliament on July 14.

The organisation is intended to improve access to finance for small and medium-sized enterprises, startups and self-employed professionals, while addressing gaps in the Cypriot financing market.

According to the government’s appointment announcement, the board’s first responsibilities will include establishing the organisation’s operational structures and appointing department heads.