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“Better futures: A resilient economy for Cyprus”

Deloitte encourages dialogue on how to achieve a more robust future for Cyprus

Deloitte successfully organised the conference “Better futures: a resilient economy for Cyprus”, which was held in the presence of government officials and distinguished stakeholders of the Cyprus business scene, on Wednesday 28 September, at Hilton Nicosia. 

The conference focused on the enhancing of a resilient economy for Cyprus and how this can be achieved, by overcoming the prevailing global economic, social, and geopolitical challenges. 

Prominent speakers presented their vision and next steps for the economy; the Minister of Finance, Constantinos Petrides, and the Governor of the Central Bank of Cyprus, Constantinos Herodotou, as well as the Director of the Consumer Protection Service of the Ministry of Energy, Commerce and Industry, Constantinos Karageorgis, who addressed the audience on behalf of the Minister, Mrs. Pilides. Executives from leading companies, organisations and associations across Cyprus  and Deloitte executives from across the network attended the conference, including the CEO of Deloitte Middle East, Mutasem Dajani. 

The discussion’s centred around how we can achieve a resilient economy for Cyprus and, ultimately, how to create a better, more sustainable, and technologically advanced future, with no exclusions. A prosperous future for all, as it is envisioned in Deloitte’s strategy, philosophy and purpose. 

During his addresses, the CEO of Deloitte Cyprus, Pieris Markou, expressed optimism that we can overcome the current challenges and that, in the near future, we will experience substantial economic growth, provided no other negative developments will occur. Markou also spoke about the future of the Cypriot economy and the transformation of our island into a strong business centre and talent destination, highlighting that when the public sector, businesses and society work together, we can achieve progress, growth, resilience, competitiveness, and sustainability. 

“Deloitte’s global vision is to create a better future for everyone and make a positive change in the societies where we live and work. We believe we can achieve that by joining forces and harvesting the knowledge of different experts, institutions and organisations from both the public and the private sectors”, Markou explains. “We must stay focused on the most immediate areas that we believe are catalysts for the development of the economy; reforms, competitiveness and reputation, as well as digital transformation”, he concludes.

“This is a decisive decade. The role public makers, NGOs, and, particularly, business leaders need to play is changing”, says Punit Renjen, the CEO of Deloitte Global, adding that Deloitte is fully committed to support the necessary initiatives to achieve these targets.

The CEO of Deloitte Middle East, Mutasem Dajani, elaborated on the key opportunities for synergies between Cyprus and the Middle East. 

Additionally, a panel discussion took place with the participation of the Deputy Minister of Tourism, Savvas Perdios, the Head of Greece and Cyprus at CVC, Alex Fotakidis, and the Founder of Exness, Petr Valov. The panelists spoke about their estimations and vision for the country’s economic future, as well as how to further enhance services. In light of the international developments, the panellists discussed about the current course of the global and domestic market, the further strengthening of important sectors in Cyprus, as well as proposed incentives for making Cyprus an attractive investment and business destination. 

Deloitte Cyprus’ Chief Strategy Officer and the Head of Consulting Services, George Pantelides, facilitated the panel discussion and, in turn, expressed his optimism about the future of the island. 

“Cyprus is a country that has always been affected by global economic developments, thus the need for implementing solid actions, is more crucial than ever before. Working collectively is the key for the future success of our economy, at a global but also at a local level”, says Pantelides. He added that urgent actions to increase investments, strengthen priority sectors, as well as limit emissions to achieve the “green” ambition, are imperative.  

The conference ended with a cocktail reception, where speakers and participants had the opportunity to exchange further ideas and share their views on how to create a more resilient economy for Cyprus. 

Creating a prosperous future for Cyprus - Conference highlights

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