Innovation Anchored in Tradition

Cyprus is an island country situated in the Mediterranean region and it is experiencing a significant change in its business environment. Cyprus has traditionally relied on tourism and shipping industries, but in recent years the country has also been developing a more diversified economy based on the financial services, information technology and renewable energy industries. This evolution has been driven by the strategic developmental attempts such as improvement of infrastructure, efficiency of the legislations governing the business and promotion of friendly business environment. One of the main spheres of the Cypriot economy, financial services has been undergoing modernization. Measures taken to increase transparency and to ensure that companies complied with the rules and regulations of the country have helped to build confidence among the international investors.

Technology is quickly becoming an exciting field of specialization. Cyprus seems to be gearing for innovation, with emerging policies to foster entrepreneurship and entice tech titans. It is a clear digital plan which is aimed at developing the IT sector with the help of the government’s support. The creation of technology parks and innovation centres is yet another manifestation of this policy. Another area of considerable opportunity is in renewable energy. As Cyprus receives adequate sunlight, hence the country is putting a lot of effort in solar power projects. A new group of decision-makers is driving this change, pushing for policies that promote sustainable growth and embracing innovative renewable technologies. Cyprus business executives are particularly involved in this continuous process of transformation. Not only are they leading the economic development, but they are also charting the course for the development of the economy.

It is with the view of staying updated with the growing trends in the country’s business landscape that Asia Business Outlook has drawn a list of select few business leaders who have demonstrated their capability through their expertise. To strengthen the business environment of the country with their tightly-knit and result-oriented approach, they are setting new standards of effectiveness.

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