ASBIS plays a vital role in serving the Cyprus tech market and beyond

ASBIS plays a vital role in serving the Cyprus tech market and beyond 

ASBIS Group is transforming and changing the technological ecosystems of the markets in which it is present. However, the most significant changes have been made in Cyprus, the market it has been represented in since 1995. 

One of the most reputable business media outlets in Cyprus CBN recently has interviewed Lefkios Theodosiou, Director of ASBIS Kypros Ltd & Director of PrestigioPlaza Ltd. In the interview, Mr. Theodosiou discussed the main local tech trends, the company’s major milestones, and its future goals. Here is a brief summary of the interview. 

Over the past 17 years, the IT sector in Cyprus has experienced robust growth, with an average annual growth rate of 15%. Technology has become increasingly relevant across various economic activities, and the surge in the ICT sector’s performance reflects this trend. Government initiatives and strategic measures, including the establishment of the Deputy Ministry of Research, Innovation, and Digital Policy, have played a pivotal role in shaping the sector. The adoption of new technologies has accelerated, driven by factors such as the COVID-19 pandemic and the need for remote work and digital services. Spending on IT services in Cyprus has seen consistent growth, reaching €156 million in 2022. However, the sector faces challenges related to IT talent shortage and digital transformation. Despite these challenges, the Cypriot IT sector has become a driving force for economic progress and innovation. 

Despite facing numerous challenges, ASBIS has achieved consistent growth and progress in its business operations, establishing a significant presence in the ever-changing technology landscape of the region. Additionally, the company continues to demonstrate strong financial performance, build cohesive team, and actively participate in ESG and CSR initiatives, contributing to a positive impact on the local and broader community. 

For more information about the company’s milestones and future plans, please refer to the interview