President of the Republic Nikos Christodoulides announced that the "Brain Gain" campaign to encourage Cypriots abroad to return home will be launched in London on May 25, followed by the inauguration of a Business Service Center on May 26.

Speaking at the General Assembly of the Cyprus Employers and Industrialists Federation (OEB) in Nicosia, President Christodoulides said that over 550 Cypriots currently working in London have already registered to participate in the event, expressing interest in the prospect of returning to Cyprus.

Regarding the Business Service Center, he stated that it marks a significant step in reducing bureaucracy and improving services, with a clear focus on meeting the needs of businesses and investors.

President Christodoulides emphasized that a resilient economy depends on strong businesses and that sustainable development is not possible without a thriving private sector.

He also highlighted Cyprus’s upcoming presidency of the Council of the EU in the first half of next year, calling it a unique opportunity to strengthen the country's role as “a truly reliable partner” within the European Union.

At the national level, the government is pursuing policies rooted in fiscal responsibility, a strong financial system, and ongoing structural reforms. In 2024, Cyprus achieved a growth rate of 3.4%—among the highest in the Eurozone—with a forecast of around 3% for 2025.

Unemployment, the President said, has dropped below 5%, with youth unemployment showing the largest decline across EU countries and overall employment reaching 80%. The primary budget surplus for 2024 exceeded 4%, while public debt was significantly reduced, with a target of falling below 60% of GDP by 2026.

He added that Cyprus’s continuous credit rating upgrades—now classified as investment grade "A" by multiple agencies—reflect international confidence in the country’s economic policy. The IMF also recognizes Cyprus as a flexible and resilient economy with strong growth potential.

“These positive trends translate into tangible results for businesses, households, and society as a whole,” he noted.

President Christodoulides also referred to recent interest from major tech companies. Following his visit to the United States, Amazon visited Cyprus in April, followed by Plug and Play in early May. More companies, including Microsoft and Google, are expected to follow.

“They are coming with specific plans to open research and innovation centers in Cyprus and to employ our citizens—this is the result of a responsible economic policy,” he said.

A strong economy, he continued, enables the state to implement targeted social policies and invest in key sectors such as Health, Education, Welfare, and Digital Transformation.

“Our goal is to build a sustainable, resilient, and competitive economic model—one based on innovation, knowledge, environmental responsibility, and social cohesion,” he concluded.

Also addressing the Assembly, newly elected OEB President George Pantelides said that Cyprus has the potential to reach AAA credit ratings. Achieving this, he noted, requires investment in people, values, and competitiveness—through continuous human capital development, commitment to quality and innovation, and a focus on strengthening the competitive edge of businesses.