Can we turn it into an op­por­tu­nity?

Financial Mirror (Cyprus) - - FRONT PAGE -

A new cold war is upon us. And once again finds it­self in the mid­dle of com­pet­ing pow­ers.

So as we start to head off for our summer hol­i­days, it is time for a re-think about Cyprus and its fu­ture. This in­volves busi­ness-peo­ple as much as it in­volves the po­lit­i­cal lead­ers. Be­cause how busi­nesses re­spond will also af­fect how well Cyprus adapts to this new and more un­cer­tain world.

On the one side of this new cold war is Rus­sia, Cyprus’ largest part­ner for busi­ness ser­vices, the fastest-grow­ing mar­ket for tourism and with a long­stand­ing friend­ship that goes back at least as far as Byzan­tium.

lit­tle Cyprus

The most press­ing need is de­pen­dence on Rus­sian busi­ness.

You might know that your client is the clean­est person on the planet, whose only con­cern is to build a se­cure fu­ture for his chil­dren.

But Cyprus’ pay­mas­ters and part­ners do not see it that way. Some­how the West will al­ways see Rus­sian money, es­pe­cially Rus­sian money in Cyprus, as sus­pect.

Your client is now a rep­u­ta­tional risk, which means a busi­ness risk, and you need to find new ones.

to

di­ver­sify

from

over- stan­dards. Only with trans­par­ent in­ter­na­tional pro­cure­ment stan­dards, for ex­am­ple, will they be en­cour­aged to base them­selves here and part­ner up with lo­cals for in­fra­struc­ture and ser­vices.

This plan needs to be writ­ten not by min­istry officials but by those with plenty of in­ter­na­tional ex­pe­ri­ence. This plan also needs to be put in place fast, be­fore Turkey, Is­rael, Greece or Le­banon do it for them­selves.

So grab the busi­ness while you can but lobby the govern­ment to cre­ate the right con­di­tions for you to flour­ish.

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