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Director`s Message

Dear all,

 I welcome you to the new website of the of Industry and Technology Service which has been prepared in order to provide you with timely and accurate information on the objectives, actions and programmes implemented by the Department.

 The main objectives of the Industry and Technology Service are the strengthening of the business activity in Cyprus and the expansion of its productive base, as well as the improvement of the competitiveness of enterprises, especially of small and medium-sized enterprises.

 Increasing productivity, extroversion and digital upgrading of Cypriot enterprises, improving access to finance and reducing production costs are some of the key challenges facing the business community today. To address these challenges, the Service is implementing a series of actions aimed at modernising and creating a robust, smart and technologically advanced manufacturing industry and further strengthening Small and Medium Enterprises (SMEs).

 An important tool for achieving the objectives of the Industry and Technology Service is the implementation of Funding Schemes which are designed on the basis of an assessment of the key parameters that make up the current competitive environment and the real needs of the business world. Financing is undoubtedly one of the key factors in business activity, which is why emphasis has been placed on making the most of the resources of the European Structural and Investment Funds and the Recovery and Resilience Fund. I underline that the submission of applications and the management of the applications are now done electronically and practical measures are being taken to simplify the procedures applied.

 In addition, the Service is responsible for the operation and management of the 13 Industrial Areas and the new Vasilikos Energy and Industrial Area. The institution of Industrial Areas is utilized to accelerate the pace of development by providing investors with the opportunity to directly establish/site industrial units at the lowest possible capital cost.

 Through the new website, we hope to make it easier for you to stay informed on all matters relating to the Industry and Technology Service’s responsibilities.


Christos Photiades

Director of Industry and Technology Service

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