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Cyprus is a magnet for technology companies

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What Mr. Giannis Georgoulas said at the Economist's 28th Annual Government Roundtable

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<p>The Economist's 28th Annual Government Roundtable was held with great success in Greece between July 2 and 4, with topics related to geopolitics, the environment and Technology. Among the speakers were the Greek Prime Minister and Paul Krugman.</p>
<p>“Technology is everywhere, it is our future and the future of the next generation promoting transparency and changing areas of our daily lives”, according to independent director of ECOMMBX Yiannis Georgoula. In particular, he referred to the challenges for promoting innovation in Europe, noting that the main problem is that we still do not have capital markets integration.</p>
<p>He also attributed to this the search for opportunities by startups in the American market. He also noted the strict regulations that have been put in place, which we need, but over-regulation increases costs to unsustainable levels for businesses.</p>
<p>According to Mr. Georgoula, solutions to these issues are needed. He also cited the example of Cyprus, which derives 13% of its GDP from the technology sector, second only to tourism, while attracting new companies and human resources. It is indicative, according to him, that there are over 300 fintech companies operating in the country, while he considered the right staff and the identification of the right partner to be crucial for the adoption of new technologies. </p>
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Source: www.kathimerini.com.cy

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