Keve, the Cyprus Chamber of Commerce & Industry, is calling for immediate action to improve Cyprus’s international reputation. They emphasize the need for a robust awareness campaign, swift responses to incidents harming the nation’s image, and activation of the government’s diplomatic network to reaffirm Cyprus as a credible investment destination, while maintaining fiscal discipline and promoting economic stability.
What action is Keve urging to improve Cyprus’ international reputation?
Keve is urging immediate action to enhance Cyprus’s international reputation, including a robust awareness campaign, swift responses to incidents harming the nation’s image, and an activation of the government’s diplomatic network to reaffirm Cyprus as a credible investment destination. They emphasize maintaining fiscal discipline and promoting economic stability.
A Call for Enhanced International Image
Outgoing Cyprus Chamber of Commerce & Industry (Keve) president Christodoulos Angastiniotis delivered a poignant message at the chamber’s annual general meeting. He pinpointed the urgency for Cyprus to bolster its international standing. Recent events have cast a shadow over the nation’s image, particularly concerning potential violations of Western sanctions against Russia.
Investor Concerns and the Impact on Investment Climate
Angastiniotis highlighted that existing investors in Cyprus are reaching out with concerns. They are keen to understand how the state will address the negative press. This unease has even reached potential new investors, causing them to reconsider their investment plans in Cyprus.
United Front Against Defamation
The Chamber’s response to these challenges is clear. Keve, along with other organizations like Invest Cyprus, has invested years into promoting Cyprus’s image. The call to action is for zero tolerance towards any incidents tarnishing this image. Where breaches are found, the state must respond swiftly and decisively.
Governmental Strategy and Economic Diplomacy
Angastiniotis advocated for a robust awareness campaign to combat negative perceptions. He called upon the government to activate its diplomatic network. The aim is to launch a communication offensive to reaffirm Cyprus’s status as a credible investment destination.
Addressing Global Concerns
During his address, Angastiniotis shared an anecdote of being questioned by the American Chambers in Washington about recent negative press. This reflects the global reach of the issue and the need for swift action to address it.
Legacy and Final Address as Keve President
This assembly was a bittersweet occasion for Angastiniotis. It marked his last address as Keve president. He reflected on his tenure, noting the challenges faced, particularly with the pandemic, the war in Ukraine, and tensions in Israel. He highlighted the collective efforts to protect Cyprus’s economy and support its businesses.
Economic Resilience and Future Outlook
Expressing pride in the Chamber’s achievements during his presidency, Angastiniotis remained optimistic about Cyprus’s economic resilience. Keve’s future activities will prioritize promoting Cyprus’s economy and maintaining its regional influence.
Economic Indicators and Fiscal Discipline
Angastiniotis also touched upon Cyprus’s economic indicators. While there are positive signs like budget surpluses and Moody’s upgrade, concerns about growth rate projections were raised. Keve’s stance is to maintain fiscal discipline and implement reforms to enhance public service efficiency.
Encouraging Sector Performance and Investment Grade Status
The performance of key sectors like tourism and real estate has been commendable, contributing positively to the economy. The upgrade to investment-grade status by Moody’s is a milestone that can attract further investments and improve the country’s economic image.
Looking Ahead
Keve continues to advocate for fiscal discipline and offers recommendations to support economic stability. These include controlling public expenses, enhancing productivity, and digitizing services to improve efficiency.
By ensuring a mixed approach with strategic actions, the Chamber aims to address issues head-on, restore confidence, and secure Cyprus’s standing as a premiere investment hub.
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Quick Recap
- Keve, the Cyprus Chamber of Commerce & Industry, is calling for immediate action to improve Cyprus’s international reputation.
- They emphasize the need for a robust awareness campaign, swift responses to incidents harming the nation’s image, and activation of the government’s diplomatic network to reaffirm Cyprus as a credible investment destination.
- Existing investors in Cyprus are expressing concerns about the negative press and potential violations of Western sanctions against Russia, causing unease among potential new investors.
- Keve and other organizations are advocating for zero tolerance towards incidents tarnishing Cyprus’s image, urging the state to respond swiftly and decisively.
- The Chamber calls for a robust awareness campaign to combat negative perceptions and activate the government’s diplomatic network to communicate Cyprus’s credibility as an investment destination.
