Limassol Chamber of Commerce discusses labour shortages with minister

Labour Minister Yiannis Panayiotou this week highlighted the importance of a collaborative approach to economic development between the government and the business community, noting that rational and balanced policies can facilitate growth and lower unemployment.

Panayiotou participated in a three-hour meeting with the Limassol Chamber of Commerce (Evel), as part of a scheduled tour with the Cyprus Chamber of Commerce (Keve), focusing on mutual information exchange and sharing perspectives on issues affecting chamber members across all districts.

During the meeting, Evel members raised concerns about challenges in the operation of their businesses, with particular references to the lack of workers and time-consuming public service procedures.

In statements made to the Cyprus News Agency (CNA) after the meeting, Panayiotou said that “our country faces significant challenges, but also has substantial prospects”.

“To harness these prospects, allowing our economy to continue growing and our society to become even more cohesive, two-way communication with social partners is essential,” he added.

Panayiotou also said that through direct contact with the business community, it is evident that there is a shared approach to the direction in which the country is heading, noting that “economic development is facilitated further through more effective public administration, ensuring it is faster and of higher quality”.

“Through dialogue, solutions that are mutually beneficial can be found because for society to thrive, the economy must grow, and developmental planning must maximise the real potential of our country’s creative forces,” the minister stated.

Addressing the issue of labour shortages, Panayiotou acknowledged that the “country’s economy is growing at rates that have already exceeded demographic capacities, making the employment of workers from abroad necessary”.

However, he also pointed out the importance of “maximising the use of local human resources available, ensuring a satisfactory growth rate for 2024, through appropriate market staffing”.