Highlighting the region's potential as a technology and data centre
An official working visit to Saudi Arabia took place between 5-8 June 2022 by the Deputy Minister of Research, Innovation and Digital Policy, Mr. Kyriakos Kokkinos, who also led a business mission co-organized by the Cyprus Chamber of Commerce and Industry (CCCI), in cooperation with the Cyprus-Saudi Arabia Business Association.
During the visit, Mr. Kokkinos had a private meeting with his counterpart, Minister of Information and Communication Technologies, H.E. Abdullah bin Amer Al-Sawaha, while he was also received by the Governors of the Digital Governance Authority, the National Cybersecurity Authority and the Committee for Information and Communication Technologies of the Kingdom of Saudi Arabia. In addition, the Deputy Minister visited the King Abdulaziz City for Science and Technology National Research Centre and met with the leadership of the Digital Cooperation Organization (DCO) and Arabsat, one of the world's leading satellite services companies, which has already implemented multi-million investments in Cyprus through Hellas Sat.
The focus of the contacts was, among other things, the expansion of bilateral and regional cooperation in a wide range of areas including digital governance, telecommunications and space, as well as the role that both countries can play in promoting the region as a hub for technology, science, innovation and data, and in addressing common challenges. A key role in institutionalising cooperation between the two countries is expected to be played by a Memorandum of Cooperation in the field of cybersecurity to be signed in the coming months, as well as the two sides' pursuit of Cyprus' membership of the Digital Cooperation Organisation (DCO), a UK initiative for international cooperation on digital economy and society. In addition, it was agreed to promote cooperation in research and innovation, specifically in biogenetics, bio-medicine and advanced technologies, such as space applications, artificial intelligence and blockchain, through the conclusion of a Memorandum of Understanding, which will promote participation in joint research projects, the exchange of expertise and know-how, as well as exchange programmes for representatives from the academic and research community.
In the framework of a business forum held in Riyadh, as well as in separate meetings with the leadership of the Chambers of Commerce and Business in Jeddah and Riyadh, the Deputy Minister discussed the strategic advantages of Cyprus as an international business centre providing access to both European and surrounding developed markets. He referred extensively to the Government's new strategy for attracting investments, highlighting the multi-dimensional support that our country provides to companies wishing to have a presence in Cyprus through the "Company Facilitation Unit", which operates within the Ministry of Energy, and underlining the strong commitment of the State to continuously improve the business environment through targeted reforms and incentives, such as the Digital Nomad Visa and the new Cyprus Startup Visa, which has just been implemented.
Kokkinos congratulated the Kingdom's Officials for the spectacular progress achieved in recent years and the country's leadership in modernisation, innovation and technological development. At the same time, he expressed his warm thanks for the hospitality and the highly constructive meetings and discussions, reflecting the strong will of the two sides to further deepen their relations.
(NG/SX)
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