Participants at the third Cyprus International Investors Summit in Limassol got to see a list of competitive advantages that make Cyprus stand out when it comes to starting a business on the island.
The director of Cyprus Employers and Industrialists Federation (OEB), Michael Antoniou, presented conference-goers a list of reasons why investing in Cyprus could be a wise choice.
The conference was held Thursday and Friday in the booming southern town to promote Cyprus as a regional headquartering centre.
Cyprus recently emerged as a serious contender in the world of international investment, according to Antoniou, who said there is a lot of interest from other countries in seeing and evaluating what new products and services are offered on the island.
'Employers can search and hire people directly from a Cypriot and EU pool of candidates or alternatively through the state’s unemployment service'
“The hiring procedures are simple and fast as they don’t require legal formalities. Employers can search and hire people directly from a Cypriot and EU pool of candidates or alternatively through the state’s unemployment service,” Antoniou told his audience on Friday according to InBusinessNews.
The OEB chief, who also chairs the Cyprus Investment Promotion Agency (CIPA, also known as InvestCyprus), praised the strategic location and good climate of the island, saying these are very important comparative advantages for the Cypriot economy.
“Hi-tech telecommunications and advanced transport infrastructure, as well as excellent business relations with European countries and a generally favourable economic climate, all contribute to new business opportunities,” he added.
Cyprus is on a path of growth despite recent difficulties, according to Antoniou, a local expert in Cypriot and EU labour law and practice.
“It is imperative that we revaluate new realities, but the big and strong powerful industrial relations systems, the legal framework as well as involvement and direction on the part of OEB, all have managed to secure labour peace and put in place much needed solutions to make businesses and our economy sustainable in the long run,” he said.