The European Bank for Reconstruction and Development (EBRD) announced the sixth round of the Survey on the Business Environment and Enterprise Performance (BEEPS) in Cyprus.
In Wednesday’s announcement, the EBRD said that it is a unique kind of evaluation survey that examines the business conditions in the countries where the Bank invests.
“The purpose of research is to obtain feedback from businesses on the prevailing conditions in the private sector in each country, through the assessment of restrictions on private sector development and the business environment,” the EBRD added.
Research will be conducted in each country through interviews with business representatives from the sectors of manufacturing and services.
The EBRD also states that the data collection and interviews with randomly selected companies will continue until May.
Local market research companies Cypronetwork and Lipa Consultancy have been chosen to carry out the research. Preliminary results from the survey are expected in the second half of 2016 .
These results, according to the EBRD, together with additional information from other analyses, provide the basis for policy recommendations to the government in order to promote investment, productivity and economic growth.
The EBRD concluded that the topics covered – including technology adoption and innovation, competition, workforce skills, informal employment, access to financial services, infrastructure and government regulation impact – are comparable worldwide.