In the last two years, the Ministry has announced, or will announce until the end of 2022, Sponsorship Projects exceeding €330 million, Of which €171 million to support entrepreneurship, which have been warmly embraced by businesses, Minister of Energy, Trade & Industry Natasha Pileidou told the General Assembly of the Paphos Chamber of Commerce and Industry.
According to Pileidou, the announcement of €120 million in Plans to support businesses is planned for 2023, including €80 million to promote investments for energy storage in combination with new renewable energy sources.
According to Pileidou, the announcement of €120 million in Plans to support businesses is planned for 2023, including €80 million to promote investments for energy storage in combination with new renewable energy sources. The other Plans to be announced in 2023 concern, among others, he said, the promotion of extroversion of Cypriot businesses, the provision of advisory services to SMEs, the implementation of the circular model in the economy, the digital upgrading of businesses and the creation of partnerships.
The Minister of Energy added that other policies adopted by the Government to support the business community have also contributed decisively to the positive picture of our economy in the midst of this unprecedented international energy crisis.
The new Industrial Policy 2019-2030, which aims to increase its contribution to GDP, increase productivity, innovation and exports, is already bearing fruit. Today, she continued, the contribution of industry to GDP based on statistical data in 2020 amounted to 8.1%, while the figure for 2022 is expected to rise to 8.5%.
Another indicator that is on the rise is employment in industry, which reached 9% of the workforce, up from 8.1% in 2020, she said.
Ms. Pileidou said it is also very encouraging to see synergies being created between researchers and industrialists for the development of innovative products and services of high added value that help create a comparative advantage for Cypriot industries so that their products can confidently compete with similar products and services in the international market.
In addition, Pileidou referred to the efforts being made to upgrade the industrial areas of Paphos District. Our Ministry in cooperation with the Department of Public Works is promoting, she continued, "the project of the construction of the bridge connecting the Mesoges Industrial Area with the Tremithoussa Industrial Zone", noting that the project is expected to start in 2023 and be completed in 2024, at a total cost of approximately €1.8 million.
He acknowledged the seriousness of the problem in the Agia Varvara Industrial Zone due to the presence of livestock farms, stressing that they will continue to work, in cooperation with the Chamber and the Ministry of Rural Development, to find a solution that satisfies all stakeholders. Finally, in the same Industrial Area, last October, the Ministry of Economic Development and Trade announced the lease of ten (10) industrial plots, further enhancing the development prospects of the area, he added.
In addition to the above and in the context of promoting Cyprus as an international centre of business activities and providing high quality services to important foreign markets, the Ministry of Economic Development and Trade, in cooperation with the KEBE, organizes business missions to specific destinations in order to develop the economic and business development of the area. The Cypriot pavilion presented technologies in areas such as cybersecurity, educational technology, digital transformation, artificial intelligence, etc.
In his address, the President of the Paphos Chamber of Commerce and Industry, George Mays, said, among other things, that the data of the Statistical Office for 2021 is very encouraging for tourism, as he continued that for the period January - December 2021, the data showed that tourist arrivals reached 1,937,000 compared to 631,600 in the corresponding period of 2020, an increase of 206.7%. He also said that in 2021 Paphos hosted about 39% of tourists with the total number reaching 755,400.
Regarding the construction industry, he noted that applications for building permits and zoning permits increased by 15% and reached the respective levels of 2018, while property sales increased by 30% and reached pre-pandemic levels. He added that Paphos was the province with the highest number of sales to foreigners at 31%.
Although there was a decrease in demand in the property market from Chinese and Russian nationals, this was replaced, he said, by an increase in demand from nationals of countries such as the European Union, Israel, Lebanon, Asian and Arab countries.
The Chamber, he said, seeks to inform the business community about the digital transition and how it can affect their businesses today. Mayis noted that the Paphos Chamber of Commerce and Industry is undertaking actions and activities that enhance the prestige and image of Paphos as a reliable investment destination, with the aim of attracting foreign investment.
He also said that in order to support the affected sectors and businesses, the Pafos Chamber of Commerce and Industry has submitted a set of recommendations, which it has forwarded through the CCCI to the relevant Ministries and the President of the Republic to be taken into serious consideration when formulating the final action plan.
Pafos, he said, has about 30,000 beds (33% of beds in Cyprus), of which more than 60% are 4 and 5-star hotels. It attracts every year about 39% of the total tourist arrivals with the main markets being the United Kingdom, Russia, Germany, Greece, Israel and with very good prospects for the Scandinavian countries and emerging markets such as Poland, Austria, Baltic countries, as well as Middle Eastern countries, etc.a
He expressed the support of the Pafos Chamber of Commerce in continuing to provide incentives to tour operators and airlines in order for Paphos and Cyprus to remain at the forefront of attractive quality tourist destinations.
For his part, the Director of the Pafos Chamber of Commerce, Marinos Stylianou, noted that the annual general meeting of the Chamber is an institution and is the most important economic event for the Pafos district.
For his part, the Director of the Pafos Chamber of Commerce, Marinos Stylianou, noted that the annual general meeting of the Chamber is an institution and the most important economic event for the Pafos district. He said it takes place under the shadow of both the pandemic, despite the fact that conditions have improved, and Russia's war against Ukraine whose consequences, apart from the loss of innocent lives, have caused an energy crisis and economic difficulties for households and businesses with inflation galloping and an uncertain economic climate being established.
In his address, KEBE President Christodoulos Agastiniotis said that the KEBE is undertaking many initiatives to help both the economy and their member businesses. However, he said, because the causes of the crisis are exogenous, we do not have many effective weapons in our quiver to correct the wrongs.
In addition, he referred to the KEBE's clear position that they will not accept changes to the recent agreement on the minimum wage. The unions' demand for changes before the ink is dry on the agreement is out of place, he concluded.
Source: CNA
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
Source
