The Cyprus chamber of commerce and industry (Keve) welcomed the council of ministers’ decision on Wednesday to approve the revised framework for the employment of third country nationals (TNCs).

This new framework meets the needs of the labour market while ensuring the proper functioning of businesses, adding a layer of flexibility for Cypriot companies to leverage the country’s economic growth potential.

According to the statement, Keve emphasised that this framework is the result of extensive dialogue conducted by the Labour Minister Yiannis Panayiotou with various social partners.

It is described as balanced, aiming to enhance labour relations by ensuring equal treatment for all workers, respecting labour rights, and incorporating essential safeguards to protect the domestic labour market.

Additionally, this revised strategy is seen as a positive development as it integrates key recommendations made by Keve to the Labour of Minister.

By doing so, it promises to ensure fair treatment for workers and also to bolster the competitiveness of enterprises, fostering both social cohesion and economic growth.

Keve has expressed its commitment to continue supporting such regulations that contribute positively to the business environment.