articleposted 27 April 2022

EUROPE IN CRISIS: Dynamics & Implications for the Cyprus Economy


The Conference ‘EUROPE IN CRISIS: Dynamics & Implications for the Cyprus Economy’ was admittedly a very big success! The event was organized by IMH at the Parklane hotel in Limassol on April 19th, 2022 and was supported by the non-profit organization Techisland, the Cyprus Banks Association, the Cyprus Hotels Association and the Cyprus Land & Building Developers Association.

The Opening Keynote address was delivered by His Excellency the Minister of Finance Mr. Constantinos Petrides, who focused on the current financial crisis and the financial implications created by the war between Russia and the Ukraine. Following the Minister’s Opening Keynote, four roundtable discussions focused on the ICT sector, on tourism, on the real estate sector, and on the Banking & Finance sector. 

A special emphasis was given to the ICT roundtable discussion, whereby Techisland was represented by 3 of its Board Members, namely Mr. Alexey Gubarev (co Founder at Palta), Mr. Artur Mamedov (COO at TheSoul Publishing), and Mr. Valentinos Polykarpou (General Manager at Wargaming Cyprus). More specifically, the Members of the Board of Techisland - the largest non-profit organization focused on technology in Cyprus, whose ultimate goal is to promote the technology sector both locally and abroad - spoke extensively on the prospects of the technology sector in becoming one of the major pillars of the Cyprus economy, as well as on the need to retrieve top tech talent from third countries in order to fulfill key positions within their firms. The Techisland Board Members expressed their gratitude to the Cyprus government for their assistance and quick reaction in relocating employees from war inflicted countries to Cyprus, and for expediting the process of their employment locally. 

Last but not least, a special mention was made to the importance of taking immediate action to pass the relevant legislation regarding the incentives for the attraction of foreign companies and professionals to Cyprus, incentives which were announced in October 2021 and which are related to tax incentives and naturalization requirements.

The rest of the distinguished speaker line-up featured the Minister of Interior, the Deputy Minister for Research, Innovation & Digital Policy, the Deputy Minister of Tourism, the Chairman of CySEC, top management from PwC, KPMG and Deloitte, hoteliers and representatives from the other supporters of the Conference.

from the blog