Cyprus was evaluated and ranked in the "advanced category", occupying the twelfth place in the relevant list with an overall score of 54,5 on the "map" for Private Enterprises in the region of Europe, the Middle East and Africa (EMEA EPB Heatmap - EPB map) according to PwC announcement.
The advantages of Cyprus, according to the map, include the Macroeconomic environment (ranked 5th), as well as the Tax and Regulatory environment (ranked 4th).
The map also lists the areas in which Cyprus is weak and needs improvement, and in particular, these areas relate to the integration of the ESG objectives, with Cyprus ranking only 31st among 34 countries in the field of technology and infrastructure, where Cyprus is in 18th place.
According to the findings of the "Charter", Switzerland, Norway, the United Kingdom, Germany, Sweden and France are emerging as the best destinations for the development of private business and entrepreneurship.
The EPB map evaluates 34 countries in the EMEA region, based on their degree of attractiveness in various categories, such as the Macroeconomic environment, the Business Landscape and the ease of doing business for Private Enterprises, the Tax and Regulatory Framework, the triptych Environment, Society and Governance (ESG), Public Health, Education, Skills and Talent, and Technology and Infrastructure.
Cyprus was evaluated and ranked in the "advanced category", occupying the twelfth place in the relevant list with an overall score of 54,5, a short distance from the eleventh Netherlands (54,8) and the tenth Luxembourg (54,9).
The top of the first edition of the "Charter" was occupied by Switzerland, a fact that is attributed to a number of determining factors. Its economically active population and the highest per capita Gross National Income (GNI) play an important role, combined with the large investment community, significant foreign direct investment and ease of paying taxes.
Based on the findings of the first edition of the "Charter", five countries are the leading forces in the relevant list, twelve countries were evaluated in the "advanced category", with an overall score of at least 50 out of 100, twelve countries are included in the "developing category" with an overall score between 40 and 50 out of 100 while five countries are classified in the "emerging category", as their score on the EBR Charter is lower than 40 out of 100.
All four Nordic countries are ranked in the top ten based on their overall score: Norway (2nd), Sweden (5th), Denmark (7th) and Finland (8th). Sweden ranks first in the PKD and Public Health categories while Norway leads in the Education, Skills and Talent category.
The United Kingdom is also showing strong performance, occupying the third place in the overall ranking, the relevant announcement mentions.
(KYPE / TB / GBA)