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I am delighted to see you all here, at this modest ceremony for the launch of Industry Week 2023, which is taking place this year for the 4th consecutive year and has now become an institution.
This, I must note, was also the aim of the Ministry of Energy, Trade and Industry.
In Cyprus, the beginning was given with the adoption of the New Industrial Policy 2019-2030, which was approved on May 6, 2019.
In Cyprus, the beginning was given with the adoption of the New Industrial Policy 2019-2030, which was approved on May 6, 2019.
In Cyprus, the beginning was given with the adoption of the New Industrial Policy 2019-2030, which was approved on May 6, 2019.
In Cyprus, the beginning was given with the adoption of the New Industrial Policy 2019-2030, which was approved on May 6, 2019. Our ultimate goal is to create a robust, flexible, smart and technologically advanced industry, with associated services, which will contribute substantially to the growth and competitiveness of the Cypriot economy.
It is worth mentioning that despite the major challenges, especially in the last three years, Cyprus' industry has managed not only to cope, but also to increase its contribution to the Gross Domestic Product of our economy, from 8.1% in 2020 to 8.5% in 2022. At the same time, in the same year, employment in the sector rose to 9% of the workforce, up from 8.1% in 2020.
In any case, the technological upgrading and modernization of existing industrial units, as well as the granting of incentives for the creation of new ones, are the main target of the majority of the co-funded Grant Schemes implemented by the Ministry of Energy, Trade and Industry.
In any case, the technological upgrading and modernization of existing industrial units, as well as the granting of incentives for the creation of new ones, are the main target of the majority of the co-funded Grant Schemes implemented by the Ministry of Energy, Trade and Industry. I note in this regard that in the current programming period up to 2027, we have secured from the European Structural and Investment Funds and the Recovery and Resilience Fund, funds amounting to €245 million for business support purposes. In addition, a further EUR 120 million will be granted for energy efficiency upgrades in housing and therefore indirectly have a positive impact on entrepreneurship and, in particular, industry.
Dear friends,
An important part of our Industrial Policy until 2030 is the actions we are taking to transform our economy into a green and circular economy. To this end, the Ministries of Energy and Agriculture, together with the Deputy Ministry of Research, have collaborated to prepare the National Action Plan for the Circular Economy, as part of the remarkable work being done in Technical Committee 10 of the National Governance System for the European Green Deal.
By implementing this Action Plan, which was approved by the Council of Ministers on 16 June 2021, but especially through the participation and support of our partners from the business community, we look forward to creating the right market conditions for a transition to a truly circular and sustainable economy.
The Ministries and Directorates involved are, I must say, making intensive efforts in this direction, with the first step being the cultivation of the culture required to adopt circular practices, both among the general public and businesses. I am sure that in recent weeks you have heard and seen our commercials on the circular economy.
I also know that all of you in attendance are interested in hearing more details about our new Sponsorship Scheme to promote the Circular Economy.
The Ministry of Energy, Trade and Industry has already prepared a draft of the Plan Guide, which is now before the Directorate General of Development and the relevant Technical Committee for final review and approval. Scheduled to be launched in early 2024, our Plan concerns the provision of incentives to small and medium-sized enterprises, for a total amount of €14.4 million, for the implementation of investments that will allow them to switch to a circular business model.
Through the Plan, it is expected that more than 40 small and medium-sized enterprises will receive support, with a maximum funding amount of €400,000 and an aid intensity of up to 50% of the investment. More information on the new Plan will be presented by Mr.
Thank you for your attention and, above all, for your presence here, which proves, I think, that you share our concern about the need to support the industry sector and the need to highlight its important contribution to society and our economy.
Thank you for your attention and, above all, for your presence here, which proves, I think, that you share our concern both for the need to support the industry sector and for the need to highlight its important contribution to our society and our economy.
Thank you for your attention and, above all, for your presence here, which proves, I think, that you share our concern both for the need to support the industry sector and for the need to highlight its important contribution to our society and our economy.
I wish you a good rest.
(GA)
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