Investment in Technology is Vital for Cyprus

As Cyprus continues to address the residual issues of its 2013 financial crisis, incentives which promote innovation and investment in the field of Information and Communication Technologies are vital to the development of the local market, President Nicos Anastasiades has said.

Local companies must focus on enhancing innovation so as to facilitate the increasing competitiveness of the Cyprus market, Anastasiades further affirmed, through a written statement read by Minister of Communications Marios Demetriades at the inauguration of the Microsoft Innovation Centre in Nicosia on Tuesday.

The effective use of ICT in all vital sectors of the local economy – such as education, health, tourism and transport – is of paramount importance in turning Cyprus into a regional service center and attracting foreign investment.

Furthermore, Anastasiades added, ICT may act as a catalyst to the increase of productivity and economical growth and may have a direct impact on the increase of GDP, the creation of new high-value jobs, the modernization and productivity increase of the public sector, the increase of transparency and the promotion of democracy and culture.

The President further expressed hope that the Innovation Center will offer training opportunities to the citizens around Information Technology, making them more competitive when seeking new career opportunities.

He noted that this Center will be available to various government bodies, academia and local companies – both existing and start-ups of all sizes, which will be able to utilize it for presentations, meetings, or simply for a tour in the world of Technology.

The President expressed optimism that this Center will develop into an integrated Software Development Center that will support entrepreneurship and the talented students in Cyprus through its cooperation with the European University in Cyprus as well as other academic institutions in the country.

He said that the Government is confident that the Microsoft Innovation Center will act as an incubator for the generation of new software solutions which, if successful, can be promoted to the global market.

In his speech, the President also said that the Government has developed a comprehensive plan (for the period 2012-2020) for the development of information society in Cyprus and the uptake of ICT entitled “Digital Strategy for Cyprus”.  

“Our digital strategy is in line with the objectives and actions proposed in the Digital Agenda for Europe, one of the flagships of the strategy “Europe 2020”, he added.

He further called that the Council of Ministers approved the Action Plan 2015-2017, which includes the most important actions of the Digital Strategy to be promoted in the next three years 2015-2017.

The President said that one of the top priorities of the Government is the development of an e-public sector and the adoption of new technologies and their effective integration into the economy and society.

 “Our ultimate objective is to create a Digital Cyprus that offers new IT tools for the financial, social and cultural aspects of our country,” he concluded.


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