In its letter to the Cyprus President, Tassos Papadopoulos, the Employers’ and Industrialists’ Federation (OEB) recommended the introduction of a National Council of Competitiveness.

This institution will aim at making competitiveness “one of the priorities of the Cyprus economy”, to “boost the business institution and secure a healthy economy”. OEB recommended that it should be introduced with a special legislative regulation.

The Council will monitor whether strategic is adopted “with consistency and in accordance with the schedules”, while similar institutions operate in almost all European countries, the letter reported.

“The effort needs coordination” in order to cover all aspects of activities. OEB suggested the participation of the following organizations in the Council:

• Ministry of Commerce, Industry and Tourism
• Ministry of Finance
• Ministry of Labour and Social Securities
• Planning Office
• Human Resource Development Authority of Cyprus
• Employers’ and Industrialists’ Federation (OEB)
• Cyprus Chamber of Commerce and Industry (CCCI)
• Cyprus Workers’ Confederation (SEK)
• Pancyprian Labour Federation
• DEOK
• Pancyprian Public Employees Trade Union
• Council of Economic Experts

According to StockWatch sources, the Finance and Commerce Ministries review the proposal.