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[PIO] Address by the Minister of Energy, Trade and Industry Mr. George Papanastasiou at the General Assembly of the Famagusta Chamber of Commerce and

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First of all, I would like to thank you for the kind invitation and the opportunity to address the Annual General Assembly of the Famagusta Chamber of Commerce and Industry (ACCI).

The Government, in the context of its broader policy and in response to the current difficult economic circumstances, is making tremendous efforts to address modern challenges with greater sensitivity to society, the environment and people.

Supporting businesses, of all categories, through programs that will allow them to have a substantial reduction in their energy costs, modernize, innovate, digitize and implement green investments is a top priority of the Ministry of Energy, Trade and Industry. At the same time, we are working to internationalize their activities and strengthen exports of domestic products and services, including by utilizing the expertise of our Export Helpdesk and our Trade Centers abroad, but also by implementing a series of promotional activities, such as grants for participation in exhibitions in Cyprus and internationally and organizing, in cooperation with the KEBE, targeted business missions.

A key tool for the achievement of our objectives are, precisely, the Grant Schemes that we implement, given that facilitating access to finance and improving the liquidity of businesses are key factors in the development of business activity.

In particular, the Ministry has secured a total of €245 million for the period 2021 to 2027, which will be made available to businesses through Schemes co-financed by the Republic of Cyprus and the European Commission, under two flagship investment support programmes, the Recovery and Resilience Plan and the THALIA 2021-2027 Programme.

The majority of our Plans are already in place and concern the following. [/LIST]

In the coming months, we will also proceed with the announcement of two new projects to support large enterprises and promote the circular economy.

At the same time, as you know, the Ministry of Energy, Trade and Industry is implementing programmes aimed at individuals and local authorities, which are very popular.

These include the Home Energy Efficiency Upgrade Scheme, with a total budget of €120 million, which is estimated to provide energy upgrade grants to around 5,500 existing energy-intensive homes by 2027.

Similarly, the Grant Schemes implemented through the Renewable Energy Sources (RES) and Energy Saving (RES) Fund (EX.E) , with a total budget of more than EUR 80 million for the years 2022-2023, include grants for investments in roof insulation and installation of photovoltaic systems in residential buildings, replacement of solar water heating systems, charging of electric vehicles from RES, as well as energy upgrading of buildings and local government infrastructure.

Dear members of the Famagusta Chamber of Commerce,

Just last month your President, my dear friend Augustine Papathoma, presented before the President of the Republic the proposed development programme of Famagusta Province for the period 2024-2029. President Christodoulides responded positively to the assistance requested by the State for the construction of projects in the free area of Famagusta, listing the projects that are already being implemented, as well as those that have been launched for implementation.

I would therefore like to assure you that from the side of the Ministry of Energy, Trade and Industry, we are always by your side, ready to actively support the business community of Famagusta. Let me mention indicatively that in addition to the policies and actions I have mentioned, we are also working today to implement the announcement of the President of the Republic regarding the amendment of the Plan, or rather the framework, for the production of electricity from RES by businesses for their own use.

Specifically, we will modify for the benefit of businesses the Category E that provides for Virtual Bill Offsetting, allowing hotels, but also other commercial and industrial consumers who do not have available space on the roof or within the block where their premises are located, to be able to proceed with the installation of a photovoltaic system on any other block they own or can rent.

As President Christodoulides has therefore announced, our Ministry is moving forward with amending this Category to allow an increase in the capacity of photovoltaic systems to be installed from 150 kW to 400 kW without the installation of a storage system and from 500 kW to 1,000 kW for systems to be combined with storage.

Of course, recognizing that business in Famagusta is not limited to the tourism sector, I would also like to emphasize that in terms of our efforts to further develop the Frenaros Industrial Area, in the last two years seven industrial plots have been advertised and allocated to companies for the establishment of facilities and the operation of new plants. As a result, 58 companies are currently established in the Area, which consists of 64 industrial plots.

Friends,

I will not dwell further.

I just want to conclude by congratulating each and every one of you individually for your decisive contribution to the development of Famagusta Province and our country in general.

Thank you for your attention and I wish you every success in the work of your General Assembly.

Note. Marios Panagidis

(ΓΑ/ΚΚ/ΑΣΠ)
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Views & opinions expressed are those of the author and/or PIO

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