The Government of Cyprus intends to begin implementing a new strategy for the development of industrial production in order to double the contribution of the sector to the economy of the country by the year 2030. This was announced by the Minister of Energy, Trade, Industry and Tourism, Yorgos Lakkotripis, at the seminar "Creating a New Era Industry", organized by the Ministry of Energy, the Chamber of Commerce and Industry of Cyprus and the Federation of Industrialists and Employers.
To date, the industrial sector accounts for 7,9% of the GDP of the republic. The government wants this indicator to reach 2030% by 15. According to Lakkotripis, the industry has potential, the development of which can favorably affect the increase in exports and, accordingly, the improvement of the country's trade balance, as well as the level of employment, productivity and competitiveness of Cyprus as a whole.
The new strategy of the Government of Cyprus for the development of the industrial sector is based on seven main directions.
As Lakkotripis said at the end of his speech, a working committee will be created to implement the new strategy, which will include representatives of the Ministry of Energy, the CCI of Cyprus and the Federation of Industrialists and Employers. The Committee will develop an appropriate action plan, the implementation of which will be evaluated annually.