CHAK Privatization Advances Under Revised Cyprus Investment Rules

by THEFUTURE.TEAM

February 23, 2026

Overview Of New Legislation

The Cyprus Parliament unanimously approved legislation that opens the way for the privatization of CHAK. Under the new framework, investor selection will no longer rely solely on the highest financial offer. Evaluation criteria now include qualitative factors, such as the investor’s business plan and its potential contribution to developing the stock market.

Emphasizing Strategic Investment Over Price

Christiana Erotokritou, President of the Parliamentary Economic Committee and member of DIKO, said the reform is important for both Cyprus’ economy and the future of CHAK. She noted that the exchange has not reached its full potential and stressed that the goal is to attract a strategic investor from a regulated market rather than simply sell a state asset. She also welcomed the Ministry of Finance’s decision to incorporate proposals submitted by DIKO during the legislative process.

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Ensuring Sustainable Market Growth

Haris Georgiadis, a DISY parliamentarian, added that the inclusion of qualitative parameters in the evaluation process is designed to secure the sustainable and positive growth of CHAK. This strategic outlook reflects a broader commitment to strengthening the competitiveness and credibility of Cyprus’ financial sector.

Institutional Reforms And Employee Protections

According to the Ministry of Finance, the legislation forms part of a broader capital market modernization plan. The law provides a framework for the gradual transfer of responsibilities related to the Central Securities Depository and the Central Register of Securities to a strategic investor, while maintaining operational continuity and safeguarding public interest.

Protection Of Employee Rights

Another critical aspect of the legislation is its provision for defending the labor rights of CHAK’s workforce. The bill ensures a smooth transfer of employees to the Ministry of Finance, or alternatively, facilitates compensation based on a defined early voluntary retirement plan, which further underscores the commitment to social responsibility during this transition.

Looking Ahead

The Ministry of Finance has expressed its gratitude towards Parliament members and, in particular, the Parliamentary Committee on Economic and Budgetary Affairs, for their collaboration in finalizing this important reform. The commitment to effectively implement the law underscores the government’s dedication to fostering an environment that supports long-term economic growth and stability in Cyprus.

The Future Forbes Realty Global Properties

Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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