It is indeed with great pleasure that I welcome the award ceremony of the Cyprus Export Award for the year 2020
An emblematic institution to recognise and reward the entrepreneurship and extroversion, as well as the vision, creativity and contribution to society of Cypriot exporters.
It is an indisputable fact that the business world of Cyprus has been a valuable and reliable supporter of the State in times of multiple and particular challenges for our country, contributing substantially to the economic progress and prosperity of our country.
Under the current adverse conditions shaped by the pandemic and the Ukrainian crisis, the contribution of domestic exports to the development model of the economy becomes even more valuable.
Recognizing the abilities of our country's entrepreneurs, we support in various ways the activity they undertake in order to further develop the competitiveness and productivity of their businesses and products.
It is sufficiently indicative to note, as a consequence of the coordinated actions of entrepreneurs and the State, that exports of domestic products in 2021, reached 1 billion 44 million, an increase of 14% compared to the previous year.
Accordingly, an increase of 15% compared to 2020 was also recorded in 2021 in services exports, which reached €15.4 billion.
At the same time, aiming at the green and sustainable development of our economy, we are implementing a series of reforms to attract businesses and skilled personnel to Cyprus.
By way of indication only, I note that this strategy envisages, among other things:
- The transformation of the Fast Track Mechanism of the Ministry of Energy, Trade and Industry into a Company Facilitation Unit.
- The revision of the policy for the employment of staff from third countries and new tax and other incentives for companies with highly qualified staff.
In addition to the above, I must add the important steps in terms of serving the complex needs of business through the upgrading of the Company Facilitation Unit, which has registered and serves over 565 foreign-interest companies to date.
In addition to what I have mentioned, equally important is the policy we are adopting with regard to industry more broadly.
At the heart of the objectives of this policy are:
- Improving the industrial and business environment through digitalisation and technological upgrading;
- Developing new skills for careers in industry;
In addition, particular emphasis is placed on the financing of business activity. For example, for 2021-2027, the Ministry of Commerce has secured over 545 million in European funds to implement relevant Grant Schemes and other facilities.
Among other things, these Schemes concern.
- Strengthening youth and female entrepreneurship.
- Digital upgrading of enterprises and increasing investment in the circular economy.
More specifically, in 2021, the following projects have been launched with a total budget of approximately EUR 130 million:
1.
1. Project for the Promotion of Investment in Wine Processing, Winemaking and Marketing Facilities.
3. Grant Scheme for Strengthening the Competitiveness of Small and Medium-Sized Enterprises in the Manufacturing Sector and other Targeted Economic Activities.
4. In addition, in 2022, the following projects have been announced or are planned to be announced in the coming months, amounting to EUR 158 million.
1. 158.158 million;
158.158.158 million;
158.158.158.158 million;
1. Savings-Upgrade Project, in Enterprises and other Entities.
3. Digital Upgrading Project for Businesses.
4. Plan to Strengthen Large Enterprises in the manufacturing sector.
5. Programme for the provision of consultancy services to small and medium-sized enterprises.
6. In the last two years, the Ministry has undertaken a radical review of its strategy for the promotion of exports and the penetration of Cypriot products and services in foreign markets.
In the context of this integrated strategy, it is noteworthy.
- The participation of state pavilions in major international exhibitions.
- The granting of sponsorships to companies for participation in trade fairs in Cyprus and abroad.
- The organisation of trade missions and seminars and the holding of targeted events.
In addition, the Ministry operates a specialised Export Helpdesk service, which, in cooperation with the Republic's Trade Centres abroad, offers guidance to Cypriot companies for access to foreign markets.
In addition to what I have mentioned, by further intensifying its efforts regarding the promotion and promotion of Cypriot products and services, the Ministry is proceeding with the following actions.
- Implementation of the first National Action Plan for the Promotion of Cyprus Wine, which seeks to promote the quality and special characteristics of Cyprus wines, both in the domestic market and abroad.
- Reorganization and upgrading of the Republic's Trade Centres abroad, in order to expand their activities and increase their efficiency and the creation of trade centres in India and Japan.
- Organization, in cooperation with the KEBE, of a targeted programme of trade missions to important countries such as Israel, the United Kingdom, Japan and the U.A.E. Already this year, missions have been organised to Egypt and Saudi Arabia.
- Preparation of a comprehensive study for the reorganisation and modernisation of the Cyprus Handicraft Service, in order to contribute to its development as a means of economic activity and entrepreneurship.
I fully understand the concerns of both citizens and the business community regarding the significant increases in basic consumer goods, particularly fuel and electricity, as a result of the Russian invasion of Ukraine and the subsequent consequences of the sanctions imposed or likely to be imposed on Russia.
I want to assure you that with the same sensitivity with which we dealt with both the economic crisis of 2013 and the health crisis of 2020, in the same way, always within our budgetary possibilities, we will again stand by entrepreneurs and vulnerable groups of the population.
As you are well aware, we have already adopted two support packages worth €300 million, and there is an ongoing assessment of the measures that can potentially be taken to further support the economy and particularly vulnerable groups.
At the same time, in order to avoid any obscenity, the Ministry of Energy, Trade and Industry has proceeded to implement the following measures.
- Systematic monitoring of changes in the prices of basic consumer goods and continuous consultation with all stakeholders in order to impose a cap on wholesale and retail prices if and when necessary. I repeat, if deemed necessary.
- In addition, an amending Bill has been tabled in the House of Representatives which expands the scope of the Minister's powers and gives her the power to set a maximum gross profit margin.
What I have mentioned, by way of indication only, demonstrates the Government's will and determination to support the business community.
I am confident that, as evidenced by our excellent cooperation, Cypriot business will continue to achieve success, always for the benefit of our country and, more generally, for the country's prospects for further development.
In conclusion, let me express my deep appreciation to the respective leadership and especially to the present leadership of the CEBE, co-organiser of the Cyprus Export Award together with the Ministry of Commerce, for the action and initiatives undertaken.
At the same time, I would like to warmly congratulate all the awardees who, with their vision and hard work, contribute to the mitigation of the major crises that our country has faced in recent years.
I wholeheartedly wish even greater success for the benefit of the business world and our country.
(PM/MB/SX)
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