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Pilides: Government To Boost Businesses Competitiveness And Extroversion With €0.6 Billion By 2027

Pilides: Government To Boost Businesses Competitiveness And Extroversion With €0.6 Billion By 2027

The Cyprus government aims to boost businesses modernisation, competitiveness and extroversion with over €585 million from national and EU Funds in the period of 2021 – 2027, Minister of Energy, Commerce and Industry Natasa Pilides has said.

Addressing a seminary hosted by the Employers and Industrialists Federation, Pilides said that a significant part of these funds is provided as an incentive to businesses and the industrial world to make the necessary investments in new technologies, digital upgrading and green and circular practices.

Pilides also noted that in the previous years, the Ministry has taken major efforts to upgrade, modernise its schemes “so we could respond more swiftly and more effectively to needs of the businesses.”

She also said that subsidy schemes amounting €130 million were launched in 2021 while scheme exceeding €200 million will be provided to businesses this year.

Pilides noted that these schemes include two subsidies’ schemes for Businesses Energy Efficiency, with a budget of €40 million, which is open for applications as well as the Digital Upgrade Scheme amounting to €10 million which is about to be launched.

Source: CNA

 

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