11th Nicosia Economic Congress
For the past ten years, the Nicosia Economic Congress has been a must-attend event for members of the island’s broader business community, and this year’s will undoubtedly be one of the most important conferences dealing with the Cyprus economy. Τhe 11th Nicosia Economic Congress aims to contribute to the creation of a long-term vision for sustainable development and prosperity in Cyprus and to be the starting point for a new beginning and the restart of the economy. It is obvious that the country needs a new long-term vision and model of economic growth if it is to have a sustainable future.
This one-day event will bring together influential and innovative minds from all sectors as well as government officials and decision/policy-makers, who will analyze and discuss the current state of the Cypriot economy and share their own views and suggestions concerning the overall vision for a sustainable economy and how this vision can be achieved in their particular area of activity.
Provisional List of Topics
Keynote Address: A New Vision for Sustainable Development and Growth in Cyprus
Nicos Anastasiades, President of the Republic of Cyprus (invitation)
Special Keynote Address: The European Green Deal: Europe’s New Growth Strategy
Ursula von der Leyen, President, European Commission (invitation)
Keynote Address: A New Vision for the Cyprus Economy in 2021-2030
Cyprus needs a new economic model that will revive the economy and society, one that will focus on economic sustainability, combining prosperity with justice and the common good.
Constantinos Petrides, Minister of Finance (invitation)
Keynote Address: The Cyprus Banking Sector: Present State and Challenges
The effective functioning of the banking system ensures sustainable economic development, as it participates in the redistribution of funds and the financing of the real economy. The CBC Governor examines the current state of the system and the challenges facing it.
Constantinos Herodotou, Governor, Central Bank of Cyprus (invitation)
Business Leaders Panel Discussion: Economic Growth in the Next Decade
Business leaders discuss practical ways of achieving sustainable economic growth and outline the most important sectors on which Cyprus should focus in order to build a more competitive economy.
• How can Cyprus achieve sustainable economic growth?
• How can the economy become more competitive?
• What sectors of the economy should be the focus for growth?
• What GDP target should be the goal by 2030?
Public and private sector representatives share their views on the overall vision for a sustainable economy and propose ways of achieving it in their particular sector:
• Major Employers discuss the state of the Cyprus economy and make suggestions for growth
The vision of sustainable economic growth requires the active involvement, not only of government bodies but also of business leaders in all sectors of the economy. Major business leaders share their own suggestions on how to achieve sustainable economic growth.
• The Digital Future of Cyprus
Technological advances and innovation can play a key role in helping us reimagine how different sectors can leverage technology to make a positive impact on society and a country’s economy. Representatives of the public and the private sectors discuss practical ways to implement digital transformation in different sectors and on how digitalization can be the enabler of a sustainable circular economy.
• Professional Services
The professional services offered to foreign companies and High Net Worth Individuals are among the most important in Cyprus, with a huge added value for the Economy. Representatives of the Professional Services sector discuss the new vision for the industry and share their insights into the new model for the sector.
o What is the future the new model for the growth of Professional Services in Cyprus over the next 10 years?
o Which geographical markets should Cyprus be targeting? In which markets is Cyprus’ offering most attractive?
• Hotels, Travel & Tourism
Tourism occupies a dominant position in the economy of Cyprus. The country needs to develop measures to build a more resilient post- COVID-19 tourism economy. These include preparing plans to support the sustainable recovery of tourism, promoting digital transformation and rethinking tourism for the future. Government bodies and key players in the tourism sector present and discuss the initiatives taken for the future of the industry.
o The Government Vision, Priorities and Objectives for the Tourism sector for the next 10 years
o The State of the Sector as seen by market players.
o The long-term vision for tourism in Cyprus. Proposals from the private sector
• Property/Real Estate & Construction
Business leaders from the Real Estate and Construction sectors discuss the potential short and long-term impact of COVID-19 and propose practical steps that should be taken to ensure sustainable growth in the sector.
o Property/Real Estate & Construction: Current market realities
o Forecast for the local Property/Real Estate market
o Forecast for international demand
Shipping is one of the main pillars of the Cyprus economy, contributing around 7% of GDP. Government bodies share their vision of consolidating Cyprus’ position as an advanced maritime cluster and, with business leaders from the private sector, discuss practical ways to create a more sustainable maritime ecosystem.
o The State of the Shipping Industry in Cyprus
o The Government Vision and Priorities
The Government will present the national energy and climate targets for 2030 and the plans, policies and measures to achieve them, thereby contributing to the country’s economic growth. Private sector players and Government officials discuss the evolution and growth of the energy sector in Cyprus and expected investment trends in the sector.
Universities in Cyprus have made a vast contribution to the country’s social and economic progress, not only due to the arrival of international students, but also by supporting innovation and attracting investment through research. Key players in the Higher Education Sector discuss the importance of the sector to the Cyprus economy and propose how it can contribute to achieving sustainable growth.
The Healthcare sector is continuously attracting investors. Healthcare professionals discuss strategic measures to make the health system more efficient and impactful through the attraction of strategic investment.
• Foreign Investment in the Next Decade: FDI and Headquartering in Cyprus
Cyprus has become a very attractive destination for Foreign Direct Investment in recent years. The Ministry of Foreign Affairs, Invest Cyprus and representatives of the Professional Services sector present their FDI outlook for the next decade, and discuss which sectors Cyprus should be focusing on to attract FDI and Headquartering and the strategies needed to achieve this.
o Cyprus’ Foreign Investment Outlook for the next decade
o Priority sectors for attracting FDI
o Headquartering and the importance of attracting foreign corporations to establish offices in Cyprus
o Strategies and Suggestions for attracting FDI and encouraging Headquartering in Cyprus