Cyprus Chamber Calls for Formal Dialogue with Government to Enhance Competitiveness and Attract Foreign Investment
The Cyprus Chamber of Commerce and Industry (Keve) has urged the government to establish a formal and regular dialogue focused on competitiveness and the broader economy. This move aims to address challenges swiftly when companies consider leaving Cyprus and to better capitalize on opportunities to attract foreign firms. Keve Secretary General Philokypros Roussounides highlighted that such ongoing communication would help prevent issues before they escalate and position Cyprus to benefit from geopolitical shifts.
Roussounides emphasized that the recent departure of a company from Cyprus should not signal a trend but rather a prompt for improved dialogue. Keve is prepared to present proposals that tackle competitiveness issues, including concerns about the international minimum tax framework (Pillar Two) and high local energy costs that may deter investment. By maintaining close cooperation, Cyprus can react quickly to new foreign direct investment opportunities, particularly amid regional instability in the Middle East and global economic uncertainties.
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