Discussions on investing in turbulent times, trade tensions between the US and the EU, the role of women in the energy sector, and strengthening network resilience and supply security marked the conclusion of the second day of the 21st Annual Economist Cyprus Summit in Nicosia on Tuesday.
According to a press release by the organisers, the Deputy Director General of the Cyprus Chamber of Commerce and Industry (CCCI), Andreas Andreou, highlighted the importance of diversification and investment in digital tools to help businesses adapt to the new environment.
Golden visa scheme
He stressed the need to make full use of financing instruments and national resilience and recovery plans, which have already contributed to key areas such as human capital development. Andreou also noted that Cyprus has managed to correct past weaknesses and can look to the future with optimism. However, he cautioned that while major international companies are setting up operations and helping to upgrade the island’s industrial sector, they could easily relocate if they encounter obstacles, pointing in particular to issues such as bureaucracy and access to finance.
The Legal Services Director of Sioufas & Associates Law Firm, Olga Eftychidou, spoke about the challenges and progress of the Greek economy, outlining investment opportunities across a range of sectors, especially real estate, which is attracting both domestic and foreign investors taking advantage of the Golden Visa scheme.
She also referred to reforms in justice and public administration, noting that the justice system remains a “thorn” for investors due to slow case resolution and low public trust. Nonetheless, she acknowledged that significant changes have been made, including Greece’s new judicial map and the transfer of certain court responsibilities to notaries and lawyers.
Cryptocurrencies and blockchain
Speaking on the need for investment and adaptation to the rapid change brought by innovation and Artificial Intelligence (AI), Alakh Verman - AI and Digital Transformation strategist at PwC and CEO of BCentriqe.AI said that people must develop flexible skills for emerging technologies, while businesses must respond with investment.
He added that his company has committed resources to Cyprus through its Nicosia-based branch, leveraging the country’s potential as a gateway to the Middle East during a time of digital transition. In his view, economic growth and investment attraction depend on transparency and full access to information. Verman also pointed to the shift of capital into cryptocurrencies and blockchain investments, emphasising the need for modern practices across capital markets and the banking sector.
Invest in skills, rely on cooperation
Annely Koudstaal, Programme Manager for Southern Europe at the EU Country Management Unit of the World Bank, summed up her message in four words: resilience, innovation, jobs and cooperation.
“Invest in these elements - in skills and in trust - and we will invest in the foundations of shared prosperity for Europe’s future,” she said.
She explained that increasing investment in research and development can enhance productivity, open new markets and create better jobs - but everything, she stressed, depends on cooperation. As an example, she referred to the World Bank’s work with the Turkish Cypriot community, citing the 2025 Macroeconomic Monitoring Report (MMR), which shows an economy recovering from the pandemic and energy shocks, while identifying challenges that could be addressed through collaboration.
The Trump effect
“The US tariff policy signals the weaponisation of global trade - and it’s here to stay,” said Richard Baldwin, Professor of International Economics at the International Institute for Management Development (IMD) in Switzerland.
He argued that the Trump administration effectively “reversed every promise the US had made within the framework of its international trade relations,” which, in his view, has eroded trust in America. “The US is closing itself off, while the rest of the world is opening up,” Baldwin observed, describing the resulting isolation of Washington on the global stage. By contrast, he pointed to Europe’s export diversification as a positive development for the continent’s long-term economic outlook.
Gender gaps persist
Cyprus’ Commissioner for Gender Equality, Josie Christodoulou, spoke about the barriers preventing women from advancing in the energy sector.
She explained that obstacles exist at every level - from education to recruitment, employment and promotion. Women remain under-represented, she said, accounting for just 32% of the workforce in renewable energy and only 19% in leadership positions. Stereotypes, bias and entrenched attitudes, she noted, continue to be the main obstacles.
Mirna Arif, General Manager for Middle East and Africa Growth Markets at Microsoft, outlined the challenges women face in building careers in the energy industry.
Having spent around 18 years at Egypt’s Ministry of Petroleum, Arif recalled the experience of often being the only woman in the room during discussions on energy policy. She noted that while the technology sector where she now works offers a somewhat better environment, gender gaps persist. The key to promoting female talent and empowerment, she said, lies not in quotas but in genuine leadership commitment.
Women in the energy industry
“When women lead the energy transition, it becomes fairer, faster and smarter,” observed Alexandra Sdoukou, Spokesperson for Greece’s ruling New Democracy party, who shared her personal experience and views on the future of women in energy.
In the workplace, she stressed, what matters most is not gender but competence, integrity, dedication, inclusion and opportunity. In this context, she referred to EmpowerMed Women, an initiative in collaboration with the East Mediterranean Gas Forum (EMGF), aimed at empowering and supporting women in the region’s energy sector. The network promotes collaboration, training, knowledge exchange and mentoring — a much-needed effort, given that women hold only 32% of full-time positions in renewable energy.
Finally, Amos Lasker, Managing Partner at Amrav Investment and CEO of the Israeli Energy Innovation Community, spoke about the need for a coordinated effort to create an effective energy system.
He referred to priorities such as integrating renewable energy sources, advancing battery and other storage technologies, promoting resilience in urban and infrastructure design, implementing protected infrastructure like underground cabling, and expanding microgrids. The ultimate goal, Lasker said, is a green energy network that will provide the foundation for the key solutions to climate change.